consignment


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Consignment

Transfer of goods to a seller while title to the merchandise is retained by the owner.

Consignment

The act or practice of the owner of a good transferring the good to a second party, usually to be sold. The parties split the proceeds from the sale according to some agreed-upon arrangement. At all times before the sale, the original owner of the good retains ownership and may end the consignment by requesting the good's return. Generally speaking, a consignment lasts for a certain period of time, after which the good is returned to the owner, unless it first is sold.

consignment

an arrangement between an exporter and an importer of a product under which the exporter only receives payment for the product after it has been transported to, and sold by, the importer. Where exporters sell GOODS on consignment they may experience significant delays in being paid and must make appropriate funding arrangements to maintain their cash flow. See EXPORTING, EXPORT CREDIT GUARANTEE DEPARTMENT.

consignment

The practice of accepting possession of goods for another with the intention of selling the goods and remitting payment to the owner,less any agreed-upon fees.Ownership of the goods remains at all times in the consignor, not in the shopkeeper (consignee). Landlords may not obtain liens in the goods,and lenders may not gain security interests under blanket liens,if they have been put on notice that the party engages in the sale of consigned goods.

References in periodicals archive ?
Like Manic Baby Studio on Facebook for CONSIGNMENT news and giveaways:
Their operation was also aided by the BSF and they have taken all the illegal consignments into their custody.
An Emirati supervisor testified that the management noticed that consignments were missing from the storage area.
He added: "The consignment arrived in bags so obviously the consignment contained salmonella from the place of dispatch.
Consignment involves a person handing over to an agent goods to be sold on his or her behalf.
Now that you've decided a consignment shop is a feasible venture, you should start by figuring out what it takes to operate a successful store.
Executives at major rug companies said consignment has become a way of life in the industry today.
Data relating to every pallet consignment is sent in real time via the internet to two major servers at a data processing centre in Manchester.
Spinal column - banned under EU BSE regulations - was found in a consignment of beef at a plant in Eastbourne recently.
The Santa Ana, homewardbound from Macao, carried consignments of coin, of gold dust to a lesser degree, and one consignment of two gold bars.
It will be the first high-end resale or consignment store in the area.
Contract notice: Consignment stock purchase framework agreement in relation to the establishment of the carriage assembly lockers operated by the metropolitan waterworks.