When it comes to consignment sales agreements, having a clear and concise document can help avoid disputes and misunderstandings between the consignor and consignee. This article provides a sample of a consignment sale agreement that you can use as a starting point for your own document.
Before we dive into the agreement, let`s define what consignment sales are. Consignment sales occur when a person (the consignor) entrusts goods to another (the consignee) to sell on their behalf. The consignee then sells the goods and pays the consignor a percentage of the sale price.
Now, let`s take a look at the sample consignment sale agreement:
1. Parties
This agreement is made between [insert consignor name and address] (the «Consignor») and [insert consignee name and address] (the «Consignee»).
2. Goods
The Consignor agrees to provide the Consignee with the following goods for sale on consignment:
[list all goods being consigned]
3. Term
This agreement will be in effect for [insert number of days/weeks/months] from the date of signing.
4. Price
The Consignee agrees to sell the goods at the following prices:
[list prices for each item]
The Consignor agrees to accept [insert percentage] of the sale price as payment for the goods.
5. Payment
The Consignee agrees to pay the Consignor for the goods sold on a [insert frequency] basis. Payment will be made no later than [insert number of days] from the end of each payment period.
6. Responsibility
The Consignee is responsible for the safekeeping of the goods while they are in their possession. The Consignor agrees to release the Consignee from any liability for loss or damage to the goods while they are in the Consignee`s possession.
7. Termination
Either party may terminate this agreement upon [insert number of days] written notice to the other party.
8. Governing Law
This agreement will be governed by and construed in accordance with the laws of [insert state/country].
9. Entire Agreement
This agreement contains the entire understanding of the parties and supersedes all prior negotiations, understandings, and agreements between them.
Signed:
[Insert Consignor Name]
[Insert Consignee Name]
Date:
[Insert Date of Signing]
While this is just a sample of a consignment sale agreement, it`s important to note that each agreement should be tailored to the specific needs of the parties involved. If you have any questions or concerns about creating a consignment sale agreement, it`s always best to consult with a legal professional.
