Terms and Conditions
1. Originality, Reference Materials, and Third Party Rights
Each design must be submitted by the artist who created it (Artist) and must be that artist’s original artwork. If the artist incorporates or derives any part of his/her design from pre-existing works such as photographs, they must be that artist’s own works or demonstrably in the public domain. If any element of a design, including images and text, affects or is subject to any rights of any third party, including intellectual property rights, the artist must obtain the party’s written permission to include his or her property in the design for use in this project, and to grant the rights requested upon submission in the Rights Transfer Agreement. Ferris Coin Co. will not review or supply third-party releases.
2. Submission and Warranty
With each design submitted, the artist must warrant in the Rights Transfer Agreement that the design is original and not in violation of any other party’s rights, and that the artist has obtained all rights necessary to assign all rights in the design to the Ferris Coin Company without restriction. Ferris Coin Co. cautions artists that because of license restrictions, reference materials obtained from stock houses or similar resources that purport to be copyright-free or royalty-free may not be available for unrestricted use or reuse, and that a thorough review prior to submission must be made. Notwithstanding any other provision of these Terms and Conditions, reference material provided by Ferris Coin Co. (if any) may not be copied into artwork or otherwise. Preexisting materials (whether or
not provided by the Ferris Coin Co.) may be used only for reference (for example, to inform the artist of a subject’s physical characteristics, and to support historically/technically accurate clothing and environment), and must be provided in full with the design submission. Along with each submission, artists must provide true and accurate copies of all references, sources and other supporting matter used in creating an original design.
3. Rights Transfer Agreement
Upon submission of artwork each artist must also sign and submit a “Rights Transfer Agreement” assigning all right to the Ferris Coin Co. for the duration of the contest and subject to contest rules. A provision of the “Rights Transfer Agreement” will provide that all artist contestants authorize use of their images for promotion of the contest in all media available until 60 days following the selection of the two winners. All design must be provisionally assigned to Ferris Coin Co. and will become its sole and exclusive property for the duration of the contest plus 60 days. All rights of those artists not selected will then revert to them. Under the Rights Transfer Agreement, artists agree that the two submissions selected as contest winners will be considered “work for hire,” and upon the payment of the prize money per side (in two installments) shall become the sole and exclusive property of Ferris Coin Co., and copyrightable by Ferris Coin Co. In the “Rights Transfer Agreement,” the winning artists will be required to:
a. Relinquish and transfer to Ferris Coin Co. in perpetuity all rights in designs submitted to Ferris Coin Co., and in drafts, even if the design or draft was prepared before entering this competition or is not ultimately used by Ferris Coin Co.. This means that the artist will not retain any rights in the design or drafts, and will not be able to use or allow others to use them (or designs substantially similar to them) without specific written permission from Ferris Coin Co. in its sole discretion. For example, without permission, an artist may not be able to display these designs or drafts on a web site, or license them for use by any third party. An artist also may not be able to use or license an unused version or draft, even if it existed before the artist entered the competition.
b. Assure that designs are entirely original. (Designs and revisions must not be copied in whole or in part from other works, and outside materials are for reference use only.) If an artist’s design affects third party rights (such as an individual’s name or likeness), the artist must (without assistance, payment or prompting from Ferris Coin Company) have obtained all consents necessary to ensure that the Ferris Coin Company, without further action, will own all rights in the design and its drafts at the point the Rights Transfer Agreement is executed. Necessary consents must allow Ferris Coin Co. to use and allow others (such as licensees) to use or modify designs in any manner in all media and markets worldwide for commercial or other purposes in perpetuity without further restriction, approvals, permissions or compensation.
c. Waive and agree not to enforce any “moral rights,” such as rights of attribution and integrity in specific designs and drafts, and waive any right to inspect or approve any finished product and any advertising, marketing, promotional material or merchandising products and materials.
d. Make warranties, such as those concerning design ownership originality, third-party rights clearances, and the artist’s power and authority to sign agreements.
e. Indemnify Ferris Coin Company against any claims for breach of warranties or for infringement of copyright or other third party rights.
f. Release and hold harmless Ferris Coin Co. and their agents and assigns, from claims and/or liability.
4. The Contest
Ferris Coin Co. requires no entry fee. No qualifications are required for the submission of each entry beyond a signed “Rights Transfer Agreement” submitted by each contestant.
5. THE WINNERS
Artists are invited to submit designs for one or both sides of the coin-shaped medallion. A single artist is eligible but not guaranteed to win the design competition for both sides of the medallion. The final coin-shaped medallion may feature front and back designs by two separate artists.
Ferris Coin, Co., upon announcing the two winning entries, whether or not the work of the same artist, will pay half of the prize money, $500 for each design, and advise the artist or artists of revisions that it requires to assure a proper three dimensional die can be cast. Artist/contestants must revise their drawings up to three times at the direction of Ferris Coin, Co., who retains the exclusive right to cast the image into the form of the commemorative coin-shaped medallion. Upon successful submission of the final artwork, the second $500 payment and the signing of a rights conveyance to Ferris Coin Co., the artist/contestant relinquishes all right, title and interest in his/her work and Ferris Coin, Co, owns all copyright and may then register its copyright.
The winning artists will be recognized in publicity related materials.
Please direct all inquiries to Ferris Coin Co. by e-mail at contest@FerrisCoin.com
Applications Open: March 15, 2018
Application Deadline: April 17, 2018*
Winner Announced: June 5, 2018
* Electronic submissions accepted until 11:59 p.m.. If mailing or hand delivering, physical submissions must arrive by 5 p.m. at Ferris Coin, 199 Wolf Road, Albany NY 12205