The online templates are much favorable in making your contracts. The online consignment agreement template is one of the online templates that are customizable and printable.
What is Consignment Agreement?
In the business world when anyone wants to appoint a person to sell, store or use a certain item owned by you. This is a legal document between the consignor and the consignee and defines the rights and obligations and duties of all the entities involved in the contract. It also defines the number of items in the consignment.
How to write Consignment Agreement?
Whenever you are in need of entering a consignment contract, whether as a consignor or a consignee, make sure that the contract is legally valid.
Following points will be helpful for writing a consignment contract.
- Confirm the legal status of the parties involved in the agreement.
- There must be something valuable in exchange.
- All the terms and conditions must be discussed between the entities before going to write the contract.
- Determine the value of the consignment so that it can be decided whether the contract will be verbal or written. The consignment that has worth $500 or above requires written agreement.
- At the top of the contract page, mention the names of both the entities involved in the agreement. All necessary details should be included.
- Define the terms and conditions under which the agreement will be valid and applicable.
- Proper detail of the consignment or items that are under operation should be included.
- The conditions for termination of the contract must be included in the agreement.
- Determine that who will responsible for any damage or other such issues while dealing with consignment.
- Define the time period for which the agreement is valid and operational.
- Get the agreement signed by the entities and retain a copy for record.
Create your own Consignment Agreement Form by using the following template,