A Consignment Letter - sample letter between consignment businesses and parties wishing to sell within same business.
This agreement is made on [date] between [name of shop], herein referred to as "Seller", and [individual]. Whereas [individual] wishes to sell [description of item(s)] by consigning said item(s) to [name of shop] for sale, it is understood:
That Seller agrees to display item(s) in a prominent place in his establishment. That Seller will make every attempt to obtain the best possible price for the consigned merchandise and will accept no less than $______ as purchase price.
That for his efforts Seller is entitled to retain [percent of the purchase price] that should a sale be effectuated, Seller shall forward a check for the amount of the full purchase price less the aforementioned [percent] to Consignee within 10 days of the receipt of same.
That Seller represents that he maintains insurance for theft and damage, and that the consigned merchandise will be covered by said insurance while it is in his possession.
That Consignee agrees to leave the merchandise with Seller for a minimum of [time]. That should the merchandise remain unsold at the end of the consignment period and an election be made by the Consignee to remove said merchandise, any costs incurred by the delivery of same to Consignee shall be borne by Consignee.