Legal Forms
To search for a particular term please use the following search box.
Important Notice : Lawyerintl.com strongly recommends that you seek independent legal advice from a qualified lawyer before using any of the forms on this site, in order that you can verify the forms are suitable for your needs.
Contract For Sale Of Goods--Sale On Consignment (Type 2)
CONTRACT FOR SALE OF GOODS--SALE ON CONSIGNMENT TYPE 2
Agreement made on [Date of Agreement], between [Name of Consignor], of [Address of Consignor], [City of Consignor], [State of Consignor], referred to as consignor, and [Name of Consignee], of [Address of Consignee], [City of Consignee], [State of Consignee], referred to as consignee.
In consideration of their mutual covenants, the parties agree as follows:
SECTION ONE: DELIVERY OF MERCHANDISE
Consignor agrees to deliver, from time to time, such goods, wares and merchandise as it, in its judgment, sees fit, and consignee agrees to accept possession of such goods, wares and merchandise on the terms and conditions set forth in this agreement.
SECTION TWO: ACCEPTANCE OF MERCHANDISE; TITLE
Consignee agrees to accept possession of the goods, wares and merchandise from consignor, and to hold and care for the same as the property of consignor, it being agreed that the title to the merchandise, or its proceeds, is always vested in consignor, and such merchandise shall be at all times subject to and under the direction and control of consignor. The title to the merchandise shall pass directly from consignor to such person or persons to whom the same shall be sold in the manner and on the terms contained in this agreement.
SECTION THREE: INSURANCE OF MERCHANDISE
Consignee agrees to keep the merchandise fully insured for the benefit of and in the name of consignor in fire insurance companies approved by consignor.
SECTION FOUR: SALE OF MERCHANDISE BY CONSIGNEE; PROCEEDS
Consignee agrees to sell such merchandise to such persons as it shall judge to be of good credit and business standing, and to collect for and in behalf of consignor all bills and accounts for the merchandise so sold, and to immediately pay to consignor any amount collected as mentioned above immediately on collection, minus, however, the difference between the price at which the merchandise so collected for has been invoiced to consignee and the price at which the merchandise has been sold as mentioned above by consignee.
SECTION FIVE: CONSIGNEES GUARANTEE OF PAYMENT
Consignee hereby guarantees the payment of all bills and accounts for merchandise, possession of which is delivered under this agreement, and hereby agrees in case any merchandise delivered under the provisions of this agreement by consignor to consignee is not accounted for to consignee under the provisions of Section Four of this agreement, to pay to consignor the invoiced price of the merchandise, and on such payment title to the merchandise, or to the proceeds thereof, so paid for, shall pass to consignee and shall be exempted from the provisions of this agreement.
SECTION SIX: TRADE DISCOUNTS
The invoices sent by consignor to consignee are subject to the usual trade discounts of [Enumeration of discounts].
SECTION SEVEN: RESTRICTIONS ON MERCHANDISING BY CONSIGNEE
Consignee agrees that except in [Enumerate of exceptions], it will not, during the continuance of this agreement, engage in the merchandising, in any manner, of any [Name of product], except as provided in this agreement.
SECTION EIGHT: DURATION; RETURN OF MERCHANDISE ON TERMINATION
This agreement shall continue for years from the date of its execution, until [date]. If, for any reason, this agreement terminates, all of the merchandise, possession of which is held by consignee under this agreement, shall at the termination be immediately returned to the possession of consignor.
SECTION NINE: FURTHER DOCUMENTATION
Consignee agrees to execute any and all other documents that consignor shall deem advisable in order to carry out the purpose of this agreement.
SECTION TEN: EFFECT OF BREACH
Any breach on the part of consignee of any of the agreements contained in this consignment agreement shall, at the option of consignor, be cause for its termination.
In witness whereof, the parties have executed this agreement at [Designated place of execution] the day and year first above written.
signature
signature