This Consignment Agreement (“Agreement”) is made and entered into on [DATE] by and between Made and Found Market, LLC. a Washington corporation with its principal place of business at 725 S. First St. Suite A, Mount Vernon, WA 98273 (“Consignee”), and [CONSIGNOR NAME], with an address at [CONSIGNOR ADDRESS] [PHONE NUMBER] [EMAIL ADDRESS](“Consignor”).
Consignment of Items. Consignor hereby agrees to consign the following items (collectively, the “Items”) to Consignee for a period of 30-90 days, beginning on [START DATE]: LIST OF ITEMS, PHOTOS, DESCRIPTIONS, QUANTITY & WHOLESALE PRICE – see Appendix A.
Pricing. Consignor will provide the amount they want to receive (wholesale price), and Consignee will double that amount for retail. Any items not sold within 30 days may be marked down by 15%. Any item not sold within 60 days may be marked down by 30%.
All used items on consignment with a retail price of over $20 will be given a 10% discount only if requested. Any requests for discounts over 10% will require approval from the consignor. If the consignor does not want to allow the automatic 10% discount, they must mark the price as “firm” on the item price list.
Marking "firm" on the item price list does not prevent the 30 & 60 day price reduction. To prevent a discounted price, item will need to be picked up by Consignor prior to mark down date.
Commission. Consignee will receive a commission of 50% of the retail price of each item sold. Consignor agrees to accept the commission as full compensation for Consignee’s services, including but not limited to the display, promotion, and sale of the items.
Payment. Consignee will pay Consignor for Items sold within 30 days of the date of sale. Consignee reserves the right to hold payment for up to 90 days in the event of a dispute regarding the authenticity or ownership of an Item.
Sales Tax. Consignee will collect sales tax on all Items sold and is responsible for reporting sales tax as required by Washington law.
Insurance. Consignor may be required provide proof of liability insurance (insurance for small business - vendor/markets is recommended and is easy to add to either a homeowner or renters insurance policy. Billie Hill at Sedro-Woolley State Farm can help but any insurance provider will suffice). Consignor may, but is not obligated to, obtain additional insurance coverage on the items in an amount equal to the full retail value of the Items at their own expense. In the event of loss, damage, or theft of the consigned Items while in the possession of Consignee, Consignor agrees to look solely to its insurance coverage for recovery.
Liability: Consignee shall not be liable for any loss, damage, or theft of consigned items, except to the extent such loss, damage, or theft is caused by the Consignee's negligence or willful misconduct.
Licenses and Permits. Consignor is responsible for obtaining and maintaining any business licenses and permits required by Washington law for the consignment of the Items.
Termination. Either party may terminate this Agreement at any time upon written notice to the other party. If Consignee terminates this Agreement for any reason other than breach by Consignor, Consignor may require the return of all unsold Items within 30 days of the date of termination. If Consignor breaches this Agreement, Consignee may terminate this Agreement immediately and require the collection of all unsold Items.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Washington.
Set up and display. All consigned Items will be set up and displayed by and at the discretion of the Consignee.
Entire Agreement: This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements between the parties. This Agreement may not be modified or amended except in writing signed by both parties.
By signing below, the parties acknowledge that they have read and agree to the terms of this Consignment Agreement.
Consignor Signature: ____________________________ Date: ___________________
Consignor Printed Name: _________________________
Consignee Signature: ____________________________ Date: ___________________
Consignee Printed Name: Andra Tom, Owner, Made and Found Market, LLC