If you`re planning to sell your products through consignment, it`s essential to have an agreement in place with the consignment store. A consignment agreement outlines the terms and conditions under which the seller will provide the products and the consignment store will sell them. While you can create a consignment agreement from scratch, it`s more efficient to use a simple consignment agreement sample that you can customize to suit your needs.

Here`s what to include in a simple consignment agreement:

1. Names of the Parties Involved

The agreement should include the names of the seller and the consignment store. It should specify that the seller is providing products for the consignment store to sell.

2. Description of Products

The agreement should specify the products that the seller is providing for the consignment store to sell. This may include details such as product name, SKU, price, and quantity.

3. Term of Agreement

The agreement should specify the duration of the agreement. This may be for a specific period, such as three months, or it may be open-ended until the seller requests the return of their products.

4. Commission Percentage

The agreement should specify the commission percentage that the consignment store will receive for each item sold. This is typically a percentage of the sale price.

5. Payment Terms

The agreement should specify when and how the seller will receive payment for products sold. Payment may be made on a monthly basis or when the products have sold.

6. Return of Unsold Products

The agreement should specify what will happen to unsold products. The seller may request their return, or the consignment store may have the right to sell them at a discounted price.

7. Liability and Insurance

The agreement should specify who is responsible for loss or damage to the products while they are in the consignment store`s possession. It`s also important to address insurance coverage for the products.

Using a simple consignment agreement sample can help ensure that all necessary elements are included. It will also save you time in the drafting process. However, it is important to note that different products and consignment store may have varying requirements. Therefore, it is always advisable to carefully review the agreement and seek legal advice if needed before signing any consignment agreement.