Legal Consignment Contracts

Consignment contracts are used when goods are sold through consignment. These agreements are legal contracts that outline the details of the consignment arrangement between the consignment shop and the seller of the goods.

Purpose

When a person or business sells goods through consignment, the consignment shop pays the seller a percentage of money earned when the goods sell. The contract details both parties' duties and obligations and the conditions of the arrangement.

Features

A consignment contract explains the terms of the arrangement. Details include the goods being consigned, the percentage of sales that the seller receives and the procedures for termination of the consignment or disposal of goods.

Details

The contract states the date, the seller's name and the consignment shop's rules and conditions. It explains what consignment means, ownership rights, payment policies and procedures for removal of items at either party's request. The contract is signed and dated by the seller, making it a legal binding contract.

References

• Nolo: Consignment Contract
• Get Free Legal Forms: Consignment Agreement