Full Consignment Agreement
1. Ownership and Condition
The equipment owner ("Consignor") confirms that they legally own the equipment or have full authority to sell it. Equipment must be free of liens, financing claims, ownership disputes, and other legal claims unless disclosed to and approved by Elite Watersports in writing.
The Consignor must disclose all known damage, defects, repairs, modifications, missing parts, safety concerns, recalls, and performance or operating issues. Elite Watersports may refuse, remove, or return any equipment that appears unsafe, stolen, counterfeit, inaccurately represented, excessively damaged, or not reasonably sellable. The Consignor is responsible for reasonable claims or expenses resulting from inaccurate ownership information or undisclosed known defects.
2. Selling Price and Authorization
Elite Watersports and the Consignor may agree in writing on an initial listing price and a minimum acceptable selling price. Any requested price entered in this form is subject to Elite Watersports' written acceptance.
If no price is agreed in writing, the Consignor authorizes Elite Watersports to determine reasonable market value based on age, condition, demand, seasonality, comparable sales, included accessories, needed repairs, and market conditions. Subject to any agreed minimum, Elite Watersports may advertise, negotiate, discount, bundle, and sell the equipment. For bundled sales, Elite Watersports will reasonably allocate the total price among the included items. Elite Watersports does not guarantee any listing price, selling price, payout amount, or time to sell.
3. Commission, Processing Fee, Shipping, and Consignor Proceeds
"Retail Selling Price" means the actual amount charged to the buyer for the consigned equipment after discounts, excluding sales tax and separately charged shipping or delivery. Elite Watersports' commission is calculated on the Retail Selling Price before deducting the processing fee, shipping, or other authorized expenses.
Check, Zelle, or Venmo payout: Elite Watersports retains 30% of the Retail Selling Price. The Consignor receives the remaining 70%, less:
- A payment-processing fee equal to 3% of the Retail Selling Price;
- Shipping costs attributable to the sale, less any shipping amount separately collected from the buyer;
- Other approved expenses or deductions authorized by this agreement.
Store-credit payout: Elite Watersports retains 25% of the Retail Selling Price. The Consignor receives the remaining 75% as Elite Watersports store credit, less:
- A payment-processing fee equal to 3% of the Retail Selling Price;
- Shipping costs attributable to the sale, less any shipping amount separately collected from the buyer;
- Other approved expenses or deductions authorized by this agreement.
Shipping responsibility: The Consignor is responsible for shipping costs associated with selling and delivering the equipment. Any shipping payment collected from the buyer will be applied toward those costs; only the remaining balance will be deducted. Return shipping is handled under Section 8. No shipping expense will be charged twice.
Included services: Standard photography, advertising, basic cleaning, and ordinary sale preparation are included in the commission. Separately approved repairs, parts, testing, specialized cleaning, and other authorized expenses may be deducted from the Consignor's proceeds.
Elite Watersports will provide a settlement summary showing the Retail Selling Price, commission, 3% processing fee, shipping charges and credits, other deductions, and final payout or store-credit amount.
Example — $1,000 sale, $50 shipping, no shipping collected from buyer, no other deductions:
Check/Zelle/Venmo: $1,000 − $300 − $30 − $50 = $620. Store credit: $1,000 − $250 − $30 − $50 = $670.
4. Payout Selection and Store Credit
The Consignor must select a payout method before proceeds are issued; changes must be approved before payment is issued. Available methods: check, Zelle, Venmo, or Elite Watersports store credit. The Consignor is responsible for providing accurate payment information. Store credit is not redeemable for cash except where required by law, is nontransferable unless approved by Elite Watersports, and may be used toward eligible products or services. Store credit will be administered according to applicable law.
5. Consignment Period and Automatic Price Reductions
The initial consignment period is four months from the date Elite Watersports accepts the equipment. At the end of that period, the Consignor has seven calendar days to arrange pickup, approve different pricing, or continue the consignment. If the Consignor does not respond, Elite Watersports may reduce the listing price by 15% and a new four-month period automatically begins. Each renewal may include another 15% reduction from the then-current price. Reductions do not authorize a sale below an agreed minimum unless the Consignor approves a lower minimum in writing. The Consignor must keep contact information current.
6. Outside or Consignor-Generated Buyers
If the Consignor finds a buyer while the equipment is under this agreement, Elite Watersports will process the sale and retain the commission for the selected payout method. Buyers generated through Elite Watersports' website, advertising, social media, store traffic, customer contacts, photographs, descriptions, or employee efforts are Elite Watersports-generated buyers. The Consignor may not use Elite Watersports' services, materials, or leads to complete a private transaction that avoids the commission.
7. Limited 30-Day Buyer Warranty
Unless sold "AS IS," "FINAL SALE," or "FOR PARTS," Elite Watersports may provide the buyer a limited 30-day warranty starting when the buyer receives the equipment. Elite Watersports administers claims and may inspect, repair, replace, issue store credit, or provide a partial or full refund. The warranty generally excludes normal wear, disclosed cosmetic issues, misuse, impact damage, improper setup, unauthorized repairs, improper storage, post-delivery saltwater or UV damage, punctures, cuts, incorrect sizing, incompatibility, and buyer preference, subject to applicable law.
8. Payment Timing, Returns, and Refunds
The Consignor will not receive payment or store credit until: the buyer has paid in full; payment has cleared; the 30-day warranty period has ended, if applicable; and no refund, return, chargeback, fraud claim, or ownership dispute remains open.
If a sale is fully refunded before payout, no proceeds are payable unless the equipment is resold. If a partial refund reduces the selling price, the commission, processing fee, and Consignor's share will be recalculated on the adjusted Retail Selling Price.
When a return or claim results from an undisclosed known defect, inaccurate Consignor information, or an ownership issue, related reasonable expenses — including return shipping, nonrefundable transaction fees, approved repairs, or other resolution costs — may be deducted from the Consignor's proceeds. The Consignor is not responsible for losses caused by Elite Watersports' own inaccurate descriptions, unauthorized representations, or handling damage. If proceeds were already issued, the Consignor agrees to reimburse amounts reasonably owed. No amount will be collected twice.
9. Cleaning, Preparation, and Repairs
Standard cleaning, photography, and basic preparation are included. Billable repairs, parts, testing, and specialized cleaning require Consignor approval unless within the preauthorized repair limit. Approved expenses may be deducted from proceeds. If the Consignor declines work needed for safety or proper operation, Elite Watersports may refuse to list the equipment and require pickup.
10. Early Withdrawal
The Consignor may request return of unsold equipment early. Elite Watersports may require reasonable notice and payment of approved, unpaid repair or preparation expenses before release. Any early-withdrawal fee must be agreed in writing beforehand. Equipment subject to a paid order, deposit, or accepted purchase agreement may not be withdrawn until that transaction is completed or canceled.
11. Loss, Damage, and Insurance
To the fullest extent permitted by law, Elite Watersports is not responsible for loss or damage from events outside its reasonable control, including fire, theft, hurricanes, tropical storms, flooding, lightning, vandalism, mold, building damage, or government action. This does not excuse responsibility that cannot lawfully be waived. The Consignor is encouraged to insure the equipment. Elite Watersports is not responsible for sentimental value, lost use, lost profits, or new-replacement cost.
12. Unclaimed Equipment
If pickup is requested, the Consignor must retrieve equipment by the stated deadline. Notices may be sent by phone, text, email, or mail. Storage fees must be disclosed in writing before accruing. Unclaimed equipment will be handled according to applicable Florida law, after any required notice or procedure.
13. Product Safety and Recalls
The Consignor must disclose known recalls, safety notices, and service bulletins. Elite Watersports may remove equipment from sale if a recall or serious defect is discovered. Recall-related costs charged to the Consignor require approval; equipment that cannot safely or lawfully be sold may need to be retrieved.
14. Photographs and Advertising
The Consignor authorizes Elite Watersports to photograph, describe, display, and market the equipment through its website, social media, marketplaces, email, print, and other channels. Elite Watersports owns the materials it creates; the Consignor may not use them or Elite-generated leads to avoid the commission.
15. No Guarantee of Sale
Elite Watersports does not guarantee that equipment will sell, how quickly, the final price, proceeds amount, or that a buyer will not return it.
16. Entire Agreement and Written Changes
This agreement applies to the equipment listed in this form and accepted by Elite Watersports. Agreed pricing, repair approvals, additional equipment, or term changes must be documented in writing, including email, accepted by both parties.