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Consignee Agreement

Consignee Agreement Generator for United States

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Key Requirements PROMPT example:

Consignee Agreement

"I need a Consignee Agreement for my art gallery to accept high-value paintings from international artists, with specific provisions for insurance coverage and handling requirements when displaying works valued over $100,000."

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Document background
The Consignee Agreement serves as a critical document in commercial relationships where goods are placed with a seller but ownership is retained by the supplier until sale. Common in retail, art, and luxury goods sectors, this agreement type is particularly relevant under U.S. law where the Uniform Commercial Code governs many aspects of the relationship. The document typically details commission structures, payment terms, handling requirements, and risk allocation, while protecting the consignor's ownership interests. It's essential for businesses operating on a consignment model to have proper documentation that complies with both federal and state regulations.
Suggested Sections

1. Parties: Identification of consignor and consignee, including full legal names and addresses

2. Background: Context of the consignment relationship and purpose of the agreement

3. Definitions: Key terms used throughout the agreement including 'Consigned Goods', 'Commission', 'Territory'

4. Appointment: Terms of appointment of consignee and scope of authority

5. Consignment Terms: Core terms regarding the consignment arrangement, including pricing and commission structure

6. Title and Risk: Clarification that title remains with consignor until sale

7. Obligations of Consignee: Duties regarding storage, care, and sale of goods

8. Payment Terms: Process for handling payments and remittance to consignor

9. Term and Termination: Duration of agreement and termination provisions

Optional Sections

1. Insurance: Insurance requirements for consigned goods - used when dealing with high-value items or specific risk factors

2. Territory Restrictions: Geographic limitations on sales - used when consignee's authority is limited to specific regions

3. Marketing Requirements: Specific obligations regarding promotion of goods - used when consignor wants to control marketing approach

4. Minimum Performance Requirements: Sales targets or other performance metrics - used when consignor wants to ensure minimum performance levels

Suggested Schedules

1. Schedule of Consigned Goods: Detailed list of goods being consigned, including descriptions and pricing

2. Commission Structure: Detailed breakdown of commission calculations and terms

3. Operating Procedures: Specific procedures for handling, storing, and selling goods

4. Insurance Requirements: Detailed insurance specifications and coverage requirements

5. Territory Map: If applicable, map or description of authorized sales territory

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Clauses
Appointment and Authority
Assignment
Bailment
Commission
Compliance with Laws
Confidentiality
Consignment Process
Damage or Loss
Default
Dispute Resolution
Entire Agreement
Force Majeure
Governing Law
Indemnification
Insurance
Intellectual Property
Inventory Management
Liability
Marketing and Promotion
Non-Competition
Notice Requirements
Payment Terms
Performance Standards
Record Keeping
Relationship of Parties
Reporting Requirements
Risk and Title
Sale Proceeds
Security Interest
Severability
Storage and Handling
Term and Termination
Territory Rights
Warranties
Industries

Uniform Commercial Code (UCC): Core federal commercial regulations including Article 2 (Sales), Article 7 (Documents of Title), and Article 9 (Secured Transactions) that govern consignment relationships and transactions

State-Specific Commercial Laws: State-level variations of the UCC and specific state regulations regarding consignment relationships and transactions

Federal Trade Commission Regulations: Federal regulations governing consumer protection and fair business practices in consignment relationships

Bankruptcy Code: Federal bankruptcy laws, particularly Section 363, addressing consigned goods in bankruptcy scenarios and creditor rights

Internal Revenue Code: Federal tax laws governing the tax implications and reporting requirements for consignment transactions

Federal Consumer Protection Laws: Including Fair Credit Reporting Act and Consumer Product Safety Act, protecting consumer interests in commercial transactions

Contract Law Principles: Common law contract requirements and state-specific contract regulations governing formation and enforcement of consignment agreements

Commercial Property Laws: Laws governing rights and obligations regarding stored goods and bailment relationships in consignment arrangements

Insurance Requirements: Regulations regarding property insurance and liability coverage requirements for consigned goods and consignment relationships

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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Templates

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