Fillable Printable Consignment Agreement Sample Form

Consignment Agreement Sample Form

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Consignment Agreement

WHEREFORE, _________________, owner and Consignor of certain property more

particularly described hereinafter, and LABeX of MA, Consignee, in exchange for good and

sufficient consideration and the mutual promises and undertakings set forth in this

Consignment Agreement (“Agreement”) do agree to the following:

1. Ownership. Consignor warrants, covenants and agrees that the property, being sold is

owned by Consignor and that there are no liens, judgments or other encumbrances against

the ownership, including all rights of sale or transfer, of the consigned property. The

parties agree that title to the consignment shall remain in Consignor until such

consignment is sold in severable parts or in whole by Consignee.

2. Description of Consigned Property. Consignor agrees to deliver, and Consignee agrees

to accept for the purpose of sale on the terms and conditions hereinafter recited in this

Agreement, the following described property:

SEE EXHIBIT “A”

Consignor states and agrees that the description(s) of the consigned property is true and

correct to the best of Consignor’s knowledge and belief and further, that no undisclosed

defects in such consignment are known to Consignor.

3. Non-Exclusivity or Exclusivity of Agreement. Consignee shall have the exclusive right

to market and sell the property described hereinabove. Consignor shall have the right to

sell the property described hereinabove for his own account. If Consignor does sell the

consignment listed in this Agreement, Consignee shall nonetheless be entitled to payment

for the sale of such consignment on the terms and conditions of this Agreement.

4. Price. The offering price(s) are to be determined by Consignor. Consignee agrees to

inform Consignor of bona fide offers to purchase the consigned property for prices less

than the asking price set by Consignor. Consignor reserves the exclusive right to accept a

price less than the offering price.

5. Time of Payment(s) to Consignor. Consignor agrees that Consignee shall require and

receive full payment on the sale of the consigned property prior to any obligation of

Consignee to remit payment to Consignor for the same. Upon receiving full payment for

such sale, Consignee shall remit, in United States currency or a check drawn on a United

States bank, the amount due to Consignor under this Agreement:

For each item sold, no later than 30 days following the date of full payment for each item.

It is agreed that “full payment,” as used above, shall be construed to mean and include the

day of the clearing of any monetary instrument by Consignee’s bank.

6. Amount(s) of Payment(s) to Consignor. Consignor and Consignee agree that an

amount of 50% of the selling price shall be due and payable to Consignor upon the sale

of the property subject to this Agreement. Consignee shall provide a monthly written

statement listing all sales made of the property subject to this Agreement including the

dates of such sales, the total amount(s) received and the amount due to Consignee.

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7. Termination of this Consignment Agreement. Consignee may terminate this

Agreement at any time and for any reason by returning to Consignor all of the unsold

property which is the subject of this Agreement. Consignor may terminate this

Agreement at any time and for any reason, but such termination will not affect the

agreement regarding items of property already sold. The expense of delivery to the

Consignor of any unsold property shall be paid by the party terminating this Agreement.

Prior notice of termination shall not be required of a terminating party.

8. Operation of Consignee’s Business. Consignee shall have the exclusive right to

determine the business operation and management of its premises. Consignor shall have

no liability or responsibility for the operation and management of Consignee’s business,

employees or agents and any torts or other causes of action resulting there from, and

Consignee agrees to defend, indemnify and hold harmless Consignor for same.

9. Liability for Loss, Etc., of Consigned Property. In the event that consigned property is

lost, stolen, destroyed, damaged, or unaccounted for due to any cause, known or

unknown (hereinafter these terms referred to collectively as “lost”), while consigned to

the Consignee:

The property, or each item, so lost shall be considered as having been sold, and

Consignee shall pay unto Consignor the amount agreed herein as if the lost property, or

each item lost, had been sold, except that only 50% of said amount (rather than the full

amount) shall be owed by Consignee to Consignor. Such amount shall be due 30 days

following the lost of the property.

10. Advertising. Consignee may not use Consignor’s name or other identifying information

in the advertising, promotion and sale of the consigned property unless written

permission is granted by Consignor.

11. Assignment. This Agreement is not assignable and may not be modified other than by a

written modification agreed to and signed by both parties.

12. Construction. This Agreement shall be construed and governed according to the laws of

the State of Massachusetts.

13. Waiver. The parties agree that instances or patterns of waiver, forbearance, course of

dealing or trade usage shall not affect the right of a party to demand performance of any

term or condition of this Agreement.

AGREED AND EXECUTED, this the - .

Consignor Consignee

LABeX of MA Inc.

Address: Address

100 Grove Street

Worcester, MA 01605

508-755-2243