Christine, More than likely the answer would be yes. If a piece is insured for a certain value, than the insurance company would not give more than the stated value. The problem I have always found is that many people ask museums for appraisal values, which most of us can not do because we are non-profit institutions. I think it is of utmost importance to relay to a lender that if they are loaning a valuable piece and they don't have an idea of its worth, they need to get it appraised by a licensed appraiser. Good luck in revising your form. Chris Goodlett Curator of Collections Kentucky Derby Museum >From: Christine Dwyer <[log in to unmask]> >Reply-To: Museum discussion list <[log in to unmask]> >To: [log in to unmask] >Subject: Policy for Loans >Date: Thu, 20 Jul 2000 09:09:05 -0400 > >Hello All, > >We are a small museum and many of our changing exhibits rely heavily on >loaned pieces. I recently reviewed the agreement we sign with individuals >who loans us pieces for display and found it lacking. On our current form, >the loaner states what his/her piece is worth, and we both sign it. We >have >purchase insurance for all the pieces, of course. My question is, heaven >forbid, if anything ever happened to a loaned item, is the loaner >restricted >to what he/she put on the paper? Do they have any recourse if they >subsequently discover the piece is worth a great deal more? I'm curious >about what other small museums, like ours, require contractually for loans. >Thanks. > >Christy > > >Christine M. Dwyer, Director >Stanly County Museum >& Historic Preservation Commission >245 East Main Street, Albemarle, NC 28001 USA >(704) 986-3777 (704) 986-3778 fax >www.co.stanly.nc.us/Departments/Museum/index.htm > ________________________________________________________________________ Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com ========================================================= Important Subscriber Information: The Museum-L FAQ file is located at http://www.finalchapter.com/museum-l-faq/ . You may obtain detailed information about the listserv commands by sending a one line e-mail message to [log in to unmask] . The body of the message should read "help" (without the quotes). If you decide to leave Museum-L, please send a one line e-mail message to [log in to unmask] . The body of the message should read "Signoff Museum-L" (without the quotes).