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 ?
Chip's Consignment Center, formerly The Consignment Center, is now part of Kakaako's industrial retail district in downtown Oahu.
He said that owing to suspicious profile, custom authorities selected the consignment for physical examination, which led to the recovery of the huge quantity of dual use precursor acetic anhydride.
On 28 January, at about 12 a.m., during the screening of Cargo Consignment, Indigo Security staff noticed a suspicious image like Hand Grenade (replica) in a Cargo Consignment which was supposed to send by Indigo flight No.6E-154 that was scheduled from Mumbai to Delhi.
The barley was bought in three 25,000-ton consignments, one at USD 173.53 a ton c&f and two others both at USD 174.24 a ton c&f, they said.
Negotiations are underway with companies in Pakistan and Sudan to expedite consignments of chilled meat by air cargo.
To contact Back to the Rack, call (978) 365-4900, send an email to backtotherackconsignment@gmail.com, or visit the Back to the Rack Consignment Facebook page and become a fan.
The High Commissioner of Sri Lanka in Pakistan, Air Chief Marshal Jayalath Weerakkody handed over this consignment on behalf of the Government of Sri Lanka to Mr.
He added: "The oilcake consignment was not detained.
"Consignment is inventory that didn't sell," said one importer, who did not wish to be identified.
a/k/a Body Glove ("Sports Dimension"), ruled against one of Sports Authority's trade vendors that had failed to timely perfect its consignment interest.
Every WeeUsables Consignment Event hosts a Stuff-a-Bag fundraiser to benefit a charity that serves women and children within the community.
Records in possession of the Directorate of Criminal Investigations show the consignment was cleared at the Port of Mombasa on March 14.