FoLA Buyer Bidding Terms & Conditions
Effective Date: July 2026
FoLA: Foundation of Leading Artists Limited
These Buyer Bidding Terms & Conditions (“Terms”) apply when you submit a bid, offer, enquiry or related information through the FoLA website, including the BID NOW form.
By ticking the acceptance checkbox and submitting a bid, you confirm that you have read, understood and agree to these Terms and FoLA’s Privacy Policy.
1. Bid Submission
1.1 You may submit a bid amount for an artwork through the BID NOW form on the FoLA website.
1.2 You confirm that all information submitted by you is true, accurate, complete and not misleading.
1.3 You must be at least 18 years old and have full legal capacity to submit a bid and enter into any resulting transaction.
1.4 If you submit a bid on behalf of another person, company or organisation, you confirm that you have full authority to do so.
2. No Automatic Acceptance
2.1 Submitting a bid does not mean that your bid is accepted, that you are the successful buyer, or that any transaction has been completed.
2.2 All bids are subject to FoLA’s review, validation and manual follow-up. FoLA may, at its sole discretion, conduct 'Know Your Customer' (KYC) and anti-money laundering checks on all buyers and require documentary evidence of funds (e.g., bank statements or letters of credit) prior to accepting any bid.
2.3 FoLA may accept, reject, clarify, verify, cancel or disregard any bid at its discretion, including where FoLA considers the bid incomplete, invalid, suspicious, mistaken, below expectation, or otherwise unsuitable.
3. FoLA Follow-up and Highest Valid Bidder
3.1 After receiving a bid, FoLA may follow up with you by email, phone, messaging app or other contact method provided by you.
3.2 If FoLA considers you to be the highest valid bidder, FoLA may notify you and confirm the next steps.
3.3 Such confirmation may include the final bid amount, artwork details, delivery details, shipping cost, insurance, taxes or duties if applicable, payment method, payment deadline and any other transaction requirements.
3.4 You must respond and complete any required confirmation or payment within the timeframe specified by FoLA. Failure to do so will be treated as a failure to complete.
3.5 FoLA reserves the right to determine the bid increments. In the event of any dispute between bidders, or in the event of doubt on FoLA’s part as to the validity of any bid, FoLA shall have the absolute discretion to determine the successful bidder or to re-offer the artwork.
4. Payment and Failure to Proceed
4.1 If FoLA notifies you that you are the highest valid bidder and confirms the payment instructions, you must pay the confirmed amount by the payment deadline specified by FoLA.
4.2 Unless FoLA agrees otherwise in writing, you are responsible for the final bid amount, shipping cost, insurance cost, bank charges, payment charges, taxes, duties, customs charges and any other transaction-related costs confirmed by FoLA.
4.3 If you cancel, fail to respond, fail to confirm, fail to pay, provide inaccurate information, or otherwise fail to proceed within FoLA’s specified timeframe, FoLA may, without liability to you at its sole and absolute discretion and without incurring any liability to you:
(a) cancel your bid or transaction;
(b) offer the artwork to another buyer;
(c) require you to reimburse reasonable direct costs or expenses incurred by FoLA as a result of your failure;
(d) refuse or restrict your future bids or purchases through FoLA; and/or
(e) take any other reasonable action permitted by law.
5. Artwork Availability and Artist Cooperation
5.1 All artwork listings, bid opportunities and transactions are subject to artwork availability and artist cooperation.
5.2 FoLA may cancel, suspend or discontinue any bid process or transaction if the artwork is no longer available, the artist cannot proceed, the artwork condition changes, or FoLA considers that the transaction cannot reasonably proceed.
5.3 If FoLA cancels a transaction before completion due to artwork unavailability or artist failure, FoLA’s liability will be limited to refunding any amount actually paid by you to FoLA for that cancelled transaction. To the maximum extent permitted by applicable law:
(a) No Consequential Damages: FoLA shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to, loss of profits, loss of data, loss of business opportunity, or reputational damage arising out of or in connection with these Terms, any bid, any transaction, or the use of the FoLA website.
(b) Liability Cap: In no event shall FoLA’s total, aggregate liability to you, whether in contract, tort (including negligence), or otherwise, exceed the total amount actually paid by you to FoLA in connection with the specific transaction giving rise to the claim.
(c) Role as Agent: You acknowledge and agree that FoLA acts as an agent for the Seller. FoLA assumes no responsibility for the acts or omissions of the Seller, including but not limited to, the description, condition, authenticity, or availability of the artwork.
(d) Website Errors: FoLA provides the website and platform on an "as is" and "as available" basis. We do not warrant that the website will be uninterrupted, error-free, or free from viruses. FoLA is not liable for any failure, delay, or inaccuracy resulting from technical errors, system outages, or communication failures beyond our reasonable control. The limitations of liability set forth herein shall apply even if a limited remedy fails of its essential purpose and are fundamental elements of the basis of the bargain between FoLA and you.
6. Artwork Information
6.1 FoLA will use reasonable efforts to present artwork information based on information provided by the artist or other relevant sources.
6.2 Images, colours, dimensions and descriptions may appear differently depending on screen settings, photography, lighting, framing or display format.
6.3 You are responsible for reviewing the artwork information and asking any questions before submitting a bid.
7. Delivery
7.1 Delivery method, delivery timing, shipping cost, insurance and related arrangements will be confirmed by FoLA during the transaction process.
7.2 Delivery may be handled by FoLA, the artist, a courier, logistics provider or another service provider.
7.3 FoLA is not responsible for delay, loss or damage caused by incorrect delivery information provided by you, courier failure, customs delay, force majeure, or events outside FoLA’s reasonable control.
8 Intellectual Property
Purchase of Physical Artwork: The Buyer acknowledges that the purchase of an Artwork transfers only the ownership of the physical object. The purchase does not transfer any copyright, reproduction rights, or other intellectual property rights, which remain the sole property of the artist or the current copyright holder.
No Commercial Use: The Buyer agrees not to reproduce, display, or distribute the Artwork for any commercial purpose without obtaining the express written consent of the copyright owner.
Platform IP: The Buyer acknowledges that the FoLA website, including its layout, design, text, software, and the "FoLA" trademark, are the exclusive property of FoLA and may not be used, copied, or exploited without FoLA’s prior written permission.