Espoo Art Lending Service Loan Terms

The borrower agrees to follow the loan terms. Borrowers must be at least 18 years old and present a valid ID when signing the agreement.
The borrower must provide up-to-date contact details. Any changes must be reported to the art lending service without delay.
The loan period is agreed upon in full months. The artwork can also be purchased immediately or later during the loan period.
At the time of borrowing, at least the first month’s loan fee must be paid. Subsequent monthly payments are due by the same day of each following month, based on the loan date.
If the borrower decides to purchase the artwork, previously paid monthly fees will be credited towards the total price. After all installments are paid, the borrower receives a confirmation of ownership.
The borrower may return the artwork before the agreed loan period ends. However, paid monthly fees will not be refunded. The art lending staff will inspect and approve the returned piece.
The monthly loan fee is approximately 5% of the artwork’s price, rounded to the nearest hundred euros, with a minimum fee of €20/month. Prices include itemized VAT (14%), where applicable.
For unframed graphic prints and drawings, the borrower commits to purchasing the piece. Payments can be made monthly as outlined above.
The borrower is responsible for compensating any damages caused to the artwork during the loan period. The Art Lending Service does not insure the artworks.
If the borrower terminates the loan, the artwork must be returned by the next scheduled due date. If the piece is returned after that date, the borrower is responsible for paying the next month’s loan fee. Any potential collection fees may also be charged to the borrower.
The Art Lending Service acts as a representative of the artist and handles invoicing for monthly payments and full purchases on their behalf.