consignment

(redirected from consignments)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

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 ?
Auction consignment provides a simple, safe and worry-free experience," said Deb Weidenhamer, CEO of Auction Systems Auctioneers & Appraisers Inc.
My consignment of medicines which included insulin injections was to be sent from Coimbatore (Tamil Nadu), but the donors informed that the airline refused to pick it up citing the govt order on NOCs," said another volunteer.
Agartala (Tripura), June 24 ( ANI ): In a joint operation, the custom department as well as the Border Security Force (BSF) seized a Bangladeshi vehicle with illegal consignment of cloth that was being smuggled into Tripura.
The suspects took the consignments out of the gates without presenting ownership papers," the supervisor claimed.
A hidden microphone picked up conversations with references to the two earlier consignments, the prosecution said.
A spokesman for the Hungarian Food Safety Office told Feedinfo News Service that the consignment was 21 730 kg net in 28 "big-bag" sacks.
Tokyo-based Gulliver International, which auctions vehicles and sells them at retail throughout Japan, recently began to market cars on consignment in Torrance.
In our business, over the last three years, consignment figures have plummeted," he said, adding that Safavieh's consignments accounted for 60 percent to 70 percent of sales in the past.
Although simple in concept, the networks demand high performance and robust IT systems to ensure the highest levels of operational efficiencies, quality control and consignment visibility throughout the supply chain.
Holland, Spain, Italy and Denmark have all exported beef with spinal cord still attached to the UK in the past, with Germany sending an appalling eight consignments, sparking calls from the NFU for exports from the country to be banned by the Commission.
Given this multicontinental presence, not surprisingly Portuguese institutions and individuals in the Estado da India continued to send consignments to Portugal on homeward-bound Indiamen.
San Diego is the perfect place to expand our footprint," said Ann Siner, founder and CEO of Eco-Chic Consignments, Inc.