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 ?
A large number of consignments of commercial imports are stuck at port as the importers are reluctant to get their consignments cleared after the inclusion of finished articles in the Third Schedule of Sales Tax Act, 1990 through Finance Act 2019, he further informed.
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.
Nizamani said that the DPP had completely stopped proper treatment of edible and agricultural consignments being imported to Pakistan whose quality and status didn't comply with food safety and regulatory regime of Pakistan.
On March 13, senior principal magistrate Kennedy Cheruiyot ordered the re-sampling for March 26, and re-testing of fertiliser consignment currently being held at a go-down in Mombasa for March 27.
The Nigerian Airspace Management Agency (NAMA) has taken delivery of another consignment of critical spare parts required for the continuous service and operation of the $65million worth Total Radar Coverage of Nigeria (TRACON).
Four suspects transporting the consignments were arrested and cases against them were registered at the Moro and Kandiaro police stations.
The contents in the consignment raised many suspicion and accordingly the DRI consulted leading research institutions in the country to ascertain the products.
He further said that a few months ago Zimbabwe Plant Protection Department also stopped Pakistani rice consignments due to phytosanitary certificate.
Of these, 2,550 consignments were of fruits and vegetables which were tested as well at the kingdom's three entry points - representing the highest number of imports into Bahrain.
A Customs' officer informed that the officials do not normally check the diplomatic consignments as if they check the goods of any country then the relevant country would checkPakistan's diplomatic consignments in return.
The durum was bought in two 25,000 ton consignments, one from Mediterranea at $297.69 a ton c&f and the other from Casillo at $295.65 a ton c&f.