CONSIGNMENT CONTRACT
This agreement (the “Agreement”) is made between the consignor (the client) and Savannah Ferran LLC (the consignee). In consideration of the mutual agreement made herein, both parties agree as follows:

 

Selling Period: All merchandise that is accepted for consignment will be for a period of at least 90 days on online resale sites.

After 90 days of the last item being posted, the consignor and consignee can agree to continue or terminate the consignment of unsold goods.

If both parties agree to continue with consignment, the contract will extend for an additional 30 days. Before the end of the consignment period, the consignor and consignee will arrange a pickup time for the consignor to retrieve any unsold merchandise or donate items.

If both parties agree not to renew the consignment agreement, the consignor and Savannah Ferran LLC will arrange a pickup time for the consignor to retrieve any unsold merchandise or donate items.

If the consignor consigns more items at any time within the 90 period, the 90 day contract period automatically renews for all items (old and new).  Any item that has been posted for over 180 days is subject to an agressive price reduction based on the discretion of Savannah Ferran LLC.  Luxury items priced at $250 and up are excluded from an agressive price reduction.

Any items not picked up within 7 days of the consignor's pickup date will automatically become the property of Savannah Ferran LLC to dispose of at their discretion, including donating to charities or storing for later resale.

 

Compensation: Savannah Ferran LLC agrees to pay the consignor a set commission percentage of the selling price after all selling fees, which includes platform fees and shipping costs (excludes packaging materials). 

Commission Percentages:

$30 and under: 40%

$30.01 to $149: 50%

$149.01 to $400: 60%

$400.01 to $999.99: 70%

$1000 & up: 80%

 

Pricing: Prices will be set by the consignee based on style, quality, age, and current comparable sold items, amongst other research that will be conducted for the best return on items. 

The consignee has the right to refuse any item for consignment purposes.

All items are subject to price reductions. The platforms work best with offers and negotiations, all of which will be handled by Savannah Ferran LLC.

If the consignor has a bottom price on specific items, it is their duty to communicate this to the consignee prior to listing the item for sale. Consignor will be provided with a Google spreadsheet of the accepted items. Google spreadsheet will also be updated once a week with sold items.

If an item sells but is returned after payout has been made, it is at the discretion of Savannah Ferran LLC to reduce the next month's payment by the item payout or keep the item and consider the payout as payment for the item.

 

Payment: Payment for sold items will be sent to consignor through payment method selected in client questionaire on the 1st business day of the month.  

 

Business Hours: Monday through Friday from 8 to 2:30. All correspondence received outside business hours is subject to be answered the next business day. Outside of business hours will be reserved for urgent situations and gauged at Savannah Ferran LLC's discretion.

 

Acceptance of Terms: The consignor acknowledges that he/she is consigning all items at his/her own risk and that the consignee cannot be responsible for any loss due to breakage, fire, theft or unforeseen cause. Savannah Ferran LLC does not, nor is responsible for insuring the consigned goods, regardless of negligence. The consignor has the obligation to insure all consigned items for risks and waives any claims against the consignee for any loss under all situations. By signing below, the consignor agrees they have read, understood, and are considered legally bonded to these terms.