Luxury Product Consignment
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Luxury Product Consignment Agreement
This Consignment Agreement ("Agreement") is made and entered into by and between [Consignment Business Name], ("Consignor") and [Client Name], ("Owner") on the [Date].
1. Eligibility and Acceptance
1.1 The Consignor agrees to accept luxury items ("Items") for sale on consignment, subject to the terms of this Agreement.
1.2 The Owner represents that the Items are genuine, authentic, and in good condition, free from damage, alterations, or counterfeit status. The Owner agrees to provide any requested documentation proving authenticity.
2. Item Description and Evaluation
2.1 The Owner will provide a description and photographs of the Items at the time of submission.
2.2 The Consignor will evaluate each item to determine if it meets the company's consignment criteria. The Consignor reserves the right to refuse any items that do not meet such criteria.
3. Commission and Pricing
3.1 The Consignor will charge a commission of the final sale price of each Item.
3.2 The final sale price will be determined by mutual agreement between the Consignor and the Owner. The Consignor may adjust prices to meet market demand.
3.3 If the Item remains unsold for a period of 3 months, the Consignor may discount the price at their discretion, with prior consent from the Owner.
4. Payment Terms
4.1 The Owner will be paid 2-3 working days after the sale of an Item. Payments will be made via [payment method, e.g., bank transfer].
4.2 If an item is returned or unsold after the agreed consignment period, the Owner is entitled to request the return of the Item or, in some cases, agree to donate or sell the item in a different manner.
5. Item Care and Storage
5.1 The Consignor will store Items in a secure, climate-controlled environment.
5.2 The Consignor will take reasonable care of the Items, but is not responsible for damage or loss unless caused by the Consignor's negligence. Insurance for the Items is the responsibility of the Owner unless otherwise agreed.
6. Authentication
6.1 The Consignor will authenticate all luxury items through internal checks or third-party authentication services before listing for sale.
6.2 If any Item is determined to be counterfeit or inauthentic, the Consignor will return it to the Owner and provide evidence of its inauthenticity.
7. Duration of Consignment
7.1 The consignment period will begin on the date of receipt of the Item and will last for [X] months unless terminated earlier in accordance with this Agreement.
7.2 Either party may terminate this Agreement with [X] days' notice. The Owner will have the option to reclaim unsold Items at the termination of the Agreement.
8. Shipping and Returns
8.1 The Owner is responsible for shipping Items to the Consignor at their own cost and risk.
8.2 Shipping of Items to the buyer will be handled by the Consignor and the cost will be included in the final sale price unless otherwise specified.
8.3 Returns from buyers will be processed in accordance with the Consignor's return policy,Â
9. Liability
9.1 The Consignor will not be held liable for any damage, loss, theft, or destruction of Items, unless caused by the Consignor's negligence or willful misconduct.
9.2 The Owner agrees to provide accurate information regarding the condition of the Items and will be responsible for any legal issues arising from misrepresentations about the Items.
10. Termination of Agreement
10.1 Either party may terminate this Agreement by providing 7 days' notice in writing.
10.2 Upon termination, unsold Items must be returned to the Owner at their expense. The Owner will not hold the Consignor liable for items not collected within 7 days after termination.
11. Governing Law
11.1 This Agreement shall be governed by and construed in accordance with the laws of [Sharjah/UAE].
12. Miscellaneous
12.1 This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements, whether oral or written, regarding the consignment of Items.
12.2 Any amendments to this Agreement must be made in writing and signed by both parties.
Signed by:
[Consignment Business Name]
Signature: ___________________________
Name: ______________________________
Title: _______________________________
Date: _______________________________
[Owner's Name]
Signature: ___________________________
Name: ______________________________
Date: _______________________________