This kind of arrangement is called Consignment. Definition. The contract or an agreement of sending several goods by the producers or manufacturers of a place to their agents for the sale is known as a consignment. Types of Consignment. Outward Consignment. Inward Consignment. Consignment Processing. Sale. Features of a Sale.
Key Components of a Consignment Contract Template Identification of parties: Indicate both the consignee and consignor's names and addresses clearly. Description of goods: List the goods or products being consigned, including any relevant specifications, quantities, quality standards, or unique identifiers.
Please provide full description of goods, number of packages, gross weight and consignment dimensions. Customer reference. You can enter any internal reference code that you would like to be printed on the invoice, with a maximum of 24 characters. Delivery address. Dutiable shipment details.
A consignment agreement is a legal contract between a consignor and a consignee, where the consignor provides goods to the consignee for sale. It details the terms and conditions for handling, selling, and potentially returning the goods, ensuring both parties' interests are protected.
Components of a Consignment Agreement Template They include: Date and parties involved. Description of goods and terms for selling them. The consignee's responsibilities when it comes to the sale, including where they will be sold and when.
Termination: A section of the consignment agreement should explain how the parties can end the contract at any time for any reason. If the parties decide to terminate the agreement, include clear instructions on how unsold products should be returned and how long the consignee has to return them.