Istoric Collective Fund

Terms and Conditions

1. Eligibility

The Istoric collective Fund is open to all artists, creators, and project developers in India irrespective of whether they are members . Applicants must be over the age of 18 and have a legitimate creative project in mind.

2. Application Process

Fund Announcement: Once the fund is complete for the year, the available amount will be publicly announced on our official website and social media channels.

Submission Requirements: Artists who wish to apply must submit their project proposal via the Istoric website or our Instagram page. The proposal should include:

A detailed project scope outlining the artistic vision, objectives, and expected impact.

A comprehensive budget breakdown, including costs for materials, production, and any other relevant expenses.

A projected timeline for completion.

Evaluation: All submitted proposals will be reviewed by a jury appointed by the Founders. The selection process is at the sole discretion of the jury and the Founders, and the decisions made will be final.

Project Selection: Once a project is selected, the artist will be notified via the contact details provided in their application. The winner(s) will be publicly announced on our website and social media platforms.

3. Artist Selection and Integrity

Interview Process: In addition to the project proposal, artists whose projects are selected for funding will undergo an interview process. The interview is an essential part of the selection and is aimed at evaluating not only the artist’s vision but also their integrity, attitude, and ability to work collaboratively.

Selection Criteria: The key factors during the interview process will include:

Teamwork Spirit: The artist’s ability to work within a collaborative environment with the production team and the Cowabunga Entertainment team.

Professional Demeanour: The artist’s attitude, communication skills, and how they interact with others during the process.

Brand Compatibility: Whether the artist’s personal values and behaviour align with the ethos of the Brand

Rejection Criteria: If, after the interview, we feel that the artist does not exhibit the qualities of a team player, does not meet our standards of professionalism, or does not align with our set of values, we reserve the right to reject the applicant. In this case, we will proceed with the next round of interviews and continue selecting until we find an appropriate candidate.

Final Announcement: After the interview process is complete, the selected artist will be officially announced, and we will move forward with the production of the project under Cowabunga Entertainment.

4. Production Process

In-House Production: Selected projects will be produced entirely by Cowabunga Entertainment, our affiliated production house. As part of the agreement, Cowabunga Entertainment will oversee all aspects of production, including creative direction, filming, post-production, and distribution.

Creative Control: While the artist retains ownership of the core creative idea, the project will be produced under the supervision of Cowabunga Entertainment’s team. The artist agrees to collaborate with our production house to ensure alignment with the vision and standards of both the project and its producers.

5. Royalty & IP Sharing

Ownership: The artist retains ownership of the original project idea and creative content. However, Istoric and Cowabunga Entertainment will retain a percentage of royalties and intellectual property (IP) generated from the project.

Revenue Sharing: The exact percentage of royalties will be discussed and agreed upon prior to the production stage. This agreement will be formalized in a separate contract, ensuring that both the artist and the production house share in the future success of the project.

Future Revenue: The revenue generated from the project will be shared between the artist and the production house based on the agreed percentage, which will help fund future iterations of the Istoric Collective Fund.

6. Fund Distribution

The funds will be distributed directly to Cowabunga Entertainment to cover production expenses, including but not limited to, materials, equipment, crew, and other related costs. The total fund amount will be allocated based on the size and scope of the selected project. Should there be any leftover funds after the project is completed, those funds will be carried over into the next year’s fund pool.

7. Project Failure

While every effort will be made to ensure the project’s success, we acknowledge that creative projects may face challenges. In case of project failure, Cowabunga Entertainment will work with the artist to find solutions, but Istoric and Cowabunga Entertainment will not be held responsible for any financial or operational losses arising from the project’s inability to meet its intended goals. The artist will not be held liable for any failures, nor will there be any negative impact on their relationship with [Brand Name].

8. Terms of Use & Legal Rights

IP Rights: By submitting a project proposal, the artist affirms that they are the original creator of the submitted content and have full intellectual property rights to the project. Should the project be selected for funding and production, Istoric and Cowabunga Entertainment will have certain rights to use the project for promotional purposes, including but not limited to social media, website features, and press materials.

Promotional Use: The artist agrees to allow Istoric and Cowabunga Entertainment to feature the project on our platforms for promotional and marketing purposes, including but not limited to website content, social media posts, and advertising campaigns.

Royalties & IP Agreement: A formal contract outlining the agreed-upon percentage of royalties, IP rights, and revenue-sharing terms will be signed between the artist and Cowabunga Entertainment prior to the commencement of the project.

9. Dispute Resolution

Any disputes arising from the project selection, fund distribution, or production process will be resolved amicably between the artist and Istoric. In case of unresolved disputes, the matter will be handled through [Arbitration/Conciliation] under the jurisdiction of [City/Country]. The decision will be final and binding.

10. Originality and Liability:

The Fund acknowledges the Artist's representation that their submitted work is original and free from any form of plagiarism. In the event of any legal claims, disputes, or allegations related to the originality, copyright, or intellectual property rights of the work, including but not limited to accusations of plagiarism or infringement of third-party rights, such claims shall be the sole responsibility of the Artist. Neither Istoric nor Cowabunga Entertainment shall be held liable or accountable for any such issues arising in connection with the work submitted by the Artist.

Istoric, its founders, and Cowabunga Entertainment will not be liable for any direct or indirect damages, losses, or costs arising from the artist’s project, including any failure to complete the project or the project’s inability to meet the anticipated results. The artist agrees to collaborate with Cowabunga Entertainment in good faith to fulfill the project’s goals.