01. Consignment Agreement
The Consignor agrees to consign goods to Reseller for the purpose of sale to prospective customers.
a.
Reseller will use best efforts to sell the consigned goods for an optimal price, as advised prior to sale.
b.
Reseller will provide regular updates to the Consignor regarding the status of the consigned goods – weekly in the event of any sale of goods.
c.
02. Ownership and Risk
The consigned goods remain under the ownership of the Consignor until point of sale.
a.
Reseller must take reasonable care to prevent loss, damage, or theft of the consigned goods while in-store. In the event of loss, damage, or theft of the consigned goods due to any negligence on Reseller’s behalf, Reseller will be responsible for compensating the Consignor based on the agreed supply price of the goods.
b.
The parties acknowledge that fire, earthquake, flood, cyclone, break and enter, explosion or any other force majeure events do not constitute negligence on behalf of Reseller.
c.
03. Consignment Price, Location, and Commission
The consignment price (“Supply Price”) will be agreed upon by both parties prior to the commencement of the consignment period.
a.
The Supply Price is generally 50% of the instore selling price of the goods unless otherwise agreed by the parties in writing (email). Agreed changes to the instore selling price will result in a corresponding proportionate change in the Supply Price.
b.
All consigned goods will be held for sale at Reseller, 26 Darley Road, Manly NSW 2095, but the sale process may include online sales. Due to shipping and other costs that may be absorbed into online selling price, the online selling price may differ from the instore selling price. Any online difference from instore selling price does not result in a change to the Supply Price.
c.
04. Consignment Period
The initial consignment period is 4 weeks. If the goods remain unsold at the end of the initial consignment period, the consignor agrees to collect their unsold items within 14 days unless otherwise agreed in writing (email).
a.
Alternatively, Reseller can (with the consent of the consignor) reduce the price of the goods and extend the consignment period for an agreed amount of time. Any such change must be agreed in writing (email).
b.
05. Accounting and Payment
Reseller agrees to maintain accurate records of all sales and provide an itemised account to the Consignor.
a.
In the event of sales of any goods from Monday to Sunday each week, payments will be made by Reseller to the Consignor via electronic funds transfer the following Tuesday. Notice of payment and sales will be advised in writing (email).
b.
06. Termination
Either party may terminate this Agreement with written notice (email) to the other party at any time.
a.
In the event of termination, the Consignor must collect their goods within 7 days.
b.
Unless otherwise agreed in writing, the parties expressly agree that any items subject to termination and left with Reseller beyond 7 days of termination will be donated to charity.
c.
07. Governing Law and Jurisdiction
This Agreement is governed by and construed in accordance with the laws of New South Wales, Australia.
a.
Any disputes arising out of or in connection with this Agreement will be subject to the exclusive jurisdiction of the Courts of New South Wales.
b.
Terms and Conditions
These Terms and Conditions form the agreement between the Consignor (you, the owner) and the consignee (“Reseller”) for the sale of goods on a consignment basis. Both parties acknowledge and agree the terms and conditions outlined below. By entering into this Agreement, both the Consignor and Reseller acknowledge that they have read, understood, and agree to be bound by these Terms and Conditions.