Consignor Contract

 

Consignment Corner Agreement Contract

1.Consignment: Subject to the terms and conditions set forth below, Consignor hereby (a) consigns to Consignment Corner Inc. (Consignment Corner) property, (b) authorizes Consignment Corner, as its exclusive agent to offer the property for sale, (c) agrees that Consignment Corner may at its sole discretion determine whether to divide the property into lots, (d) agrees that Consignment Corner may dispose of damaged, broken, repaired, glued, chipped, cracked, or otherwise defective property after drop-off.

2.Consignor Commissions- Upon Sale of any property, the consignor shall receive:

• 50% Commission of the final selling price up to $99.99, excluding buyers’ fees
• 60% Commission of the final selling price between to $100.00 and $1,999.99 excluding buyers’ fees
• 70% Commission of the final selling price $2,000.00 and over, excluding buyers’ fees

3. Buyer’s Fees (Item Fees)- A fee similar to a buyers’ premium at auction will be added to the price of each item. This fee is paid by the purchaser and is not reflected on the consignors itemized list nor the selling price. This fee is not paid by the consignor, and is paid by the purchaser, to help offset the cost of photography, marketing, and online listing fees.

4.Terms- The Maximum Consignment Term is 60 days from the date of drop off by the consignor. Unsold property may be picked up by the Consignor between the 55^th and 60^th day without penalty. Consignment Corner is closed on Tuesdays, please plan your pickups accordingly. Consignor agrees, on the 61^st day property ownership will be transferred to Consignment Corner. Consignor shall have no further responsibility or interest, in property after the 60-day term. Consignment Corner will not notify consignors when the end of the consignment term is approaching. The 60-day mark can be found on Consignors itemized list on the last column under pickup date (this date is the 60^th day). Seasonal/Holiday/Select Items may have a shorter term; please review your item list under the addendum to contract section for any changes to the 60 day consignment term.

5.Early Contract Cancellation Fee- The consignor may terminate this agreement at any time by giving Consignment Corner written notice. Property must be immediately removed from Consignment Corner’s showroom at termination. A 15% cancellation fee will be charged based on the selling price, this fee will be deducted from consignor’s balance, or may be paid at the time of removal from our showroom.

6.Pricing & Price Reductions- Consignment Corner will have the exclusive right to price, and sell the property. All property consigned may be subject to price reduction at the discretion of Consignment Corner. Prices shown on consignors itemized list are starting estimates and are subject to change, based on further review, and a market analysis.

Consignment Corner’s Typical Discount Schedule-

• Property will be reduced 10% on the 21^st consignment day.
• Property will be reduced an additional 10% on the 35^th consignment day.
• Property will be reduced and additional 10% on the 45^th consignment day.
• As stated above Consignment Corner can reduce the price at any time.

7. Record Keeping- It is the responsibility of consignor to maintain all records and terms of consigned property. Consignors may track current sales by going to www.shopconsignmentcorner.net and by clicking the consignor online login link. To login simply type in your email: [[EMail]] and password: [[EMail]] Please note only open payable sales transactions will appear on the portal. Once a check/payout has been issued, the portal will refresh for current open transactions. Past payout details can be found on your bottom half of the check stub.
8. Consignment Payments- Consignment Corner will mail checks the first week of each month to accounts that have a payable balance of $10.00 or more ($11.50 before check processing fee). A $1.50 processing fee will be deducted from consignors checks each time a check is issued. Checks are printed offsite and are automatically sent First Class by the USPS, and cannot be picked up at Consignment Corner. Consignors must notify Consignment Corner of any changes of address. Consignment Corner will not be responsible for lost, missing, stolen, or undeliverable checks. Check re-issues are only available once a month during our monthly check run. If a check needs to be re-issued, the consignor will be responsible for any stop payment fees charged by Granite State Credit Union.

9.Liability/Insurance- Consignment Corner assumes no responsibility and is hereby relieved from any and all liability, claim or charges in the event of loss of property by reason of fire, flood, theft, burglary, or any other cause. Consignment Corner does not provide insurance for consigned property. The consignor has the responsibility to carry their own insurance for property.  Consignor agrees to indemnify and hold Consignment Corner Inc., its officers, officials, agents, affiliates, and employees harmless from any and all claims, demands, liens, losses, damages, obligations, charges, or liabilities of every kind and character.

10. Representation- Consignor expressly represents and warrants to Consignment Corner that: (a) consignor owns the property and has the right to consign the property. (b) there are no liens, claims, or encumbrances or restrictions to the property, (c) all items are deemed authentic, the sale of counterfeit property is illegal. Luxury items such as Louis Vuitton, Chanel, Gucci, Prada, Etc. will be authenticated by a third party. If items are deemed not authentic by the third party an authentication fee of $30.00 will be charged, and (d) property is not stolen.
11. Electronic Communication: Consignor expressively consents to receive communications from Consignment Corner by email in connection with this agreement. Consignor also consents to receive marketing information and materials from Consignment Corner by email, subject to Consignor’s right to opt-out by emailing info@consignmentcorner.net
12. Successors: This agreement shall be binding upon Consignor’s successors and assigns, including without limitation, any executor, personal representative, or heirs of consignor’s estate.
13. Modification: Consignor, agrees they have not relied or may rely upon any oral statements, representations, warranties, indemnities, or inducements of any kind that contradict the terms of this agreement. This agreement shall not be amended or modified in any way. Addendums to this agreement can be made and will be stated on the footer of consignors itemized list under the addendum to contract section. Continuing to consign with Consignment Corner will represent your acceptance to these terms.
14. Signatures: This agreement may be electronically signed and transmitted, and the electronic copy shall have the same binding force and effect as a manually-signed original.