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Genie AISource file
consignment_contract_template.docxJurisdiction
England and WalesCost
Free to useContract party
Relevant sectors
Type of legal document
🤝 Consignment agreementBusiness activity
Place goods on consignmentA consignment agreement is a contract between a consignor and a consignee that sets out the terms and conditions of the consignment arrangement. The agreement should include the names and addresses of the parties, the date of the agreement, the nature of the consignment, the consignment period, the consignment fee, and the terms of payment.
The Consignment Contract typically covers various details such as the description of the goods being consigned, their estimated value, and the consignor's ownership rights. It also outlines the consignee's responsibilities regarding the care, storage, and sale of the goods, including procedures for pricing, displaying, marketing, and advertising. The contract may specify whether the consignor receives a predetermined payment or a percentage of the sales proceeds, as well as any additional fees or commissions owed.
Further, the contract may address the duration of the consignment arrangement, renewal or termination clauses, inspection and audit rights, insurance requirements, accountability for loss or damage, and procedures for returning unsold goods. It may also contain provisions related to the consignor's rights to audit the consignee's books, records, and sales reports to ensure accurate accounting and transparency.
By utilizing the Consignment Contract template, both the consignor and consignee can establish a clear understanding of their respective rights and responsibilities, minimizing the risk of disputes or misunderstandings. This legal document provides a solid foundation for a consignment business relationship within the framework of UK law and encourages a mutually beneficial and fair partnership between the parties involved.
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