Consignment Agreement Sample Template

If you are in the business of consignment, having a comprehensive consignment agreement is crucial to ensure a smooth and fair transaction between the consignor and the consignee. At BizzLibrary.com, we offer a professionally drafted Consignment Agreement Template in DOCX format, ready for you to download and customize according to your specific needs.

What is Consignment?

Consignment is a business arrangement where the owner of goods (consignor) transfers them to another party (consignee) for the purpose of selling them. The consignor retains ownership of the goods until they are sold, and the consignee sells the goods on behalf of the consignor in exchange for a percentage of the sales price.

Key Elements of a Consignment Agreement

A consignment agreement protects the interests of both the consignor and the consignee by establishing clear guidelines and expectations. Here are some key elements that should be included in a consignment agreement:

1. Parties Involved: Clearly identify the consignor, who owns the goods, and the consignee, who will be responsible for selling the goods.
2. Description of Goods: Provide a detailed description of the goods being consigned, including any unique identifiers, such as serial numbers or SKU codes.
3. Terms and Conditions: Outline the terms and conditions of the consignment, including the consignment period, pricing, payment terms, and any additional fees or commissions.
4. Minimum Reserve Price: Specify if there is a minimum reserve price below which the consignee cannot sell the goods without prior consent from the consignor.
5. Accounting and Reporting: Define how sales proceeds will be accounted for and reported to the consignor, including the frequency of reports or statements.
6. Dispute Resolution: Include a clause that outlines the process for resolving any disputes that may arise during the consignment period.
7. Termination: Specify the conditions under which the consignment agreement can be terminated by either party, including notice periods.

Download Our Consignment Agreement Template

Take the hassle out of creating a consignment agreement from scratch. Visit BizzLibrary.com today to download our Consignment Agreement Template in DOCX format. Our professionally drafted template serves as a solid foundation for your consignment business transactions, providing you with peace of mind and legal protection.

Choose BizzLibrary.com for all your business document needs. We offer a wide range of customizable templates, including contracts, agreements, and more. Download our Consignment Agreement Template now and ensure a fair and secure consignment process for your business!