Consignment Agreement Form
Consignment Agreement Form
Parties
This Consignment Agreement (the "Agreement"), is made on
The "Consignor" "The Consignee"
WHEREAS, the Consignor owns the property rights of the commodities on consignment, which will describe in detail below;
WHERAS, the Consignee desires to take possession of the consigned commodities with the intention of selling on behalf of the Consignor;
NOW, THEREOF, in consideration of the mutual covenants and promises made by the parties hereto, the Consignor and the Consignee (individually, each a "Party" and collectively, the 'Parties") agree and undertake as follows:
Consigned Commodities
The list and price information of the consigned commodities (or shall be referred as the "goods" subject to the consignment are presented in detail below;
Product Name |
Amount |
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Property Rights
The ownership of the goods subject to the consignment belongs to the consignor until these goods are sold and the ownership passes to the third party. The Consignee agrees and undertakes that it only has the possession on the consigned commodities.
The Consignor grants the Consignee the right to sell the consigned commodities on behalf of the Consignor. The Consignee finds it deemed best for consigned commodities to possibly be sold, but nonetheless in accordance with the terms and conditions specified in this Agreement.
Price and Payment
The Consignee may freely determine the price of the consigned commodities to be sold under this Agreement. However, the minimum value of the consigned commodities that the Consignee may sell are indicated in the chart above. Any amount that the consigned commodity is sold above the minimum shall belong to the Consigner. An amount below the minimum value sold by the Consignee shall make the Consignee responsible for the price difference of the indicated minimum value in this Agreement.
Nonetheless, the Consignee shall receive a commission of
On the
The Consignee will be in default if fails to make any payment by the date that it is due. The Consignee is obliged to pay daily
Insurance
Consignee shall maintain insurance coverage that shall be sufficient to compensate the Consignor in the event of fire, damage, robbery, theft, or otherwise.
However, the Consignor is obliged to take out the appropriate insurance for any damage or loss that may occur during transportation.
Return of Unsold Goods
The Consignee shall return the unsold goods if the goods are not sold until
In a similar way, in case goods are not returned with the period prescribed in 1st paragraph, the these goods shall be considered as sold and the total cost shall be borne by Consignee.
Delivery Expenses
The Consignor shall bear the cost of shipping expenses for the delivery of the consigned commodities. In the case of the return of the unsold goods, the shipping expenses are borne
Warranty of the Goods
The Consigner warrants that the goods supplied conform to the specifications requested, are fit and sufficient for the purpose manufactured, are of good material and workmanship, and are free from, defect. The length of warranty may be vary by product. The Consigner further warrants that the products are new and unused and of the latest model or manufacture.
After receiving the goods. the Consignee shall inspect the goods in appearance and shall notify the Consigner immediately if any defects are defected including the damages that may have occurred during transportation. With this notification, the Consignee may claim the change of the goods with undamaged ones or may request a discount.
Termination Agreement
This Agreement has been concluded for an indefinite period and can be terminated without penalty by a written notice of 30 days by either party.
The parties may terminate the contract immediately by written agreement. In this case, the provisions regarding the payment obligation and the return of the goods shall be applied after the termination of the Agreement.
If one of the parties fails to fulfill its obligations under this Agreement, the other party may terminate the contract with
Force Majeure
In no event shall the parties be responsible or liable for any failure or delay in the performance of its obligations under this Agreement arising out or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbance, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software or hardware) services.
Confidentiality
The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party. It shall not disclose any relevant confidential information any third parties, except for the information that (a) is or will be in public domain (other than through the receiving Party's unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable law or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section.
IN WITNESS WHEREOF, the Parties hereunto has executed this Agreement, on the day and year set forth below.
Consigner Consignee
Name:
Date:
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