WHEREAS, Consignee desires to take possession of the Consigned Items with the intention of selling the said merchandise on behalf of the Consignor;
NOW, THEREFORE, in consideration of the mutual covenants and promises made by the parties hereto, the Consignor and the Consignee (individually, each a “Party” and collectively, the “Parties”) covenant and agree as follows:
GOODS. The following products shall be sold on consignment. Please provide the following information for the goods. Restocking inventory is discussed below. Due to the nature of the shop, restocking might be more frequent if you sell larger items.
PRICING LABELS. You must price your items individually by sticker or tag, please do so before you drop off your inventory. The label must also have your business name, the product name, and the price as stated in the product form.
RIGHT AND TITLE. The consignor owns the Merchandise until the item is purchased. Items will be returned to the consignor when the agreed consignment period has ended.
RIGHT TO LIMITED USE AND SELL. Consignor grants Consignee the right to sell the Product. Consignee is likewise granted the right to display and sell the Merchandise in a way the Consignee finds it deemed best for said Merchandise to possibly be sold.
PRICING. The price of the Merchandise at which the Consignee may sell is/are indicated in the Goods clause.
ENTRANCE FEE. The consignor agrees to pay the entrance fee to have their items displayed in the shop. This fee is based on the approved tier.
ADMINISTRATIVE FEE. The Consignee shall be entitled to a 20 percent of the full purchase price of each Merchandise sold. This will cover packaging/display, and Credit Card Usage Fees. Tax is passed to the consumer.
PAYMENT DELIVERY. Consignee shall deliver the number of sales, less the Consignment Fee, of the Merchandise sold on or by April 21st, 2024. The Consigner will be required to set up a stripe connect account to receive consignment payouts.
RETURN OF UNSOLD MERCHANDISE. The Consignee shall return the unsold merchandise after April 21st, 2024. The consigner must collect the unsold merchandise from the store by April 21st, 2024.
FORTUITOUS EVENT. No Party shall be held liable in case of a fortuitous event and by which parties are not at fault, or by acts of God which parties could not have reasonably foreseen or foreseen but could have been avoided.
RESTOCKING INVENTORY. Consignor will be given access to view sales data updated on a daily basis. It is expected that when one or more of your items are running low in the shop, consignor will promptly deliver new inventory.
PRODUCT PLACEMENT. Consignee retains the exclusive right to place and display cosignor products in the store as they see fit. The Consignor may not, at any time, alter, change, move or otherwise rearrange products in the shop without prior written permission from Consignee.
INDEMNITY. Each Party hereby agrees to indemnify and hold harmless the other, their employees, representatives, and assigns, against any and all damage, liability and loss, and other damages that may arise or otherwise related to this Agreement except in such that a competent court finds that one Party caused deliberate damage, liability, or loss through bad faith, willful misconduct, or gross negligence, in which case no indemnification shall be provided for the said Party.
MODIFICATION. No amendments, changes, or modifications to this Agreement shall be considered to have been made and valid unless otherwise made in writing, agreed upon and signed by both Parties.
NON-TRANSFERABILITY. This Agreement may not be assigned, alienated, attached, pledged, or otherwise sold to any party in whole or in part.
ASSIGNMENT. This Agreement inures the benefit of and is binding upon the assigns, heirs, respective successors, and legal representatives.
GOVERNING LAW. This Agreement shall be construed under the terms of the governing laws and jurisdiction of the state of NC, to the exclusion of other states.
WAIVER OF LIABILITY. I understand and agree that consignee is not responsible to reimburse me in the event of fire, loss, theft or damage to my products. I trust Consignee will do its best to ensure the safety of my items, and I understand there is NO obligation to pay me for items that are not sold.
IT IS HIGHLY RECOMMENDED THAT YOU OBTAIN INSURANCE FOR YOUR PRODUCTS. CONSIGNEE WILL NOT PROVIDE INSURANCE FOR YOUR PRODUCTS.
I agree to waive, relinquish, discharge, release, and covenant not to sue Consignee or owners, employees, or volunteers for any and all claims of injury, damage, or loss that any purchaser of the items I am consigning may have. I agree to defend, indemnify and hold harmless Consignee, and any owners, employees, and volunteers from and against, without limitation, any and all claims, loss, damages, forfeitures, penalties, liability, actions, suits, costs and attorney fees arising from or related to the items I am consigning, including, but not limited to, any and all claims, loss, damages, forfeitures, penalties, liability, actions, suits, costs and attorney fees arising from or related to violations of the CPSIA or any related rules and regulations adopted by the CPSC, including but not limited to the warranties indicated above.
IN WITNESS WHEREOF, the Parties hereunto has executed this Agreement, on the day and year set forth below.