- Consignment of Goods
The Consignor shall deliver the Consigned Goods for consignment to the customer. Upon delivery, the Consignee shall accept delivery of the Consigned Goods. The Consigned Goods shall remain the sole property of Consignor until sold. Consignee hereby acknowledges that it takes possession of the consigned goods only on a consignment basis and it does not acquire any property right or security interest in such Consigned Goods. The consignor’s consignment is not a consignment intended as a security.
The title to and property of the Consigned Goods shall remain with the Consignor until such time as the Consigned Goods are purchased.
The Consignee at its own cost and expense agrees to keep and display the Consigned Goods in the following premises _________________________________________________ (the "premises"). The Consignee shall store the Consigned Goods at its premises so as to be at all times segregated from all of the other inventory and shall clearly indicate that the Consigned Goods are the property of the Supplier. Upon any demand by Consignor, Consignee will be responsible to return the Consigned Goods in good order and condition.
4. Sale of the Consigned Goods
The Consignee agrees to use its best efforts to sell the goods on behalf of the Consignor on such terms, and at such prices as shall from time to time be designated by the Consignor.
The Consignee agrees, upon sale, to receive the sale proceeds due to the Consignor and to deliver the sales proceeds, after deducting of all commission, to the Consignor together with an accounting within 30 days of the said sale.
The Consignee agrees to accept as full payment a commission equal to 20% of the gross sales price exclusive of any sales tax.
This Agreement shall commence on the ______ day of __________________, 20______ and continue for a period of twelve (12) months, with the option to extend for additional twelve (12) month period upon mutual acceptance.
8. Independent Contractor
The Consignee is, and shall remain, an independent contractor selling to third-party buyers the Consigned Goods. The Company does not appoint the Consignee as its agent or authorize the Consignee to hold itself out as its agent, and does not convey to the Consignee any property interest in the Company’s corporate name, trademarks, or goods.
Consignor shall not assign any of their rights under this Agreement, or delegate the performance of any of the obligations or duties hereunder, without the prior written consent of the Consignee and any attempt by Consignor to so assign, transfer, or subcontract any rights, duties, or obligations arising hereunder shall be void and of no effect.
Any notices, bills, invoices, or reports required by this Agreement shall be deemed received on the day of delivery if delivered by hand during receiving party regular business hours or by facsimile before or during receiving party regular business hours.
- Entire Agreement; Amendment:
This Agreement is the final, complete and exclusive agreement of the parties with respect to the subject matter hereof and supersedes and merges all prior or contemporaneous representations, discussions, proposals, negotiations, conditions, communications and agreements, whether written or oral, between the parties relating to the subject matter hereof and all past courses of dealing or industry custom. No modification of or amendment to this Agreement shall be effective unless in writing and signed by each of the parties.