Common use of Third Party Opinion of Lender Value For Objects Requested for Indemnity Clause in Contracts

Third Party Opinion of Lender Value For Objects Requested for Indemnity. The applicant must have lender values assessed by experts other than staff of the applicant, participating venues, lenders, or anyone directly involved with the exhibition. An expert may be, for example, personnel of an auction house or dealer, or an outside curator unaffiliated with the exhibition. If requested objects are of two or more types, cultures, time periods, etc., it may be necessary to consult more than one expert (they do not need to be from the same source). The Third Party 1) may agree with the lender value as fair market value, or 2) may believe the lender value is lower than fair market value, or