A Consignment Agreement is a legal contract signed between a consignor (a seller) and a consignee (a distributor), upon which a consignor delivers goods to the consignment stock and stores them, and a consignee uses or sells those goods to a third party. A consignor pays a consignee a commission for their services (for selling the goods), while a consignee returns all the money received for the goods to the consignor. Most of the time a commission is presented as a percentage of the sales.
Goods are the property of a consignor, if they are not sold, they are supposed to be returned to them if it is otherwise not stated in the agreement. Consignment stock is legally owned by a consignor as well, but operated by a consignee. You can download a Consignment Agreement template below or make your own using our online form builder.
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