Consignment Agreement
This Consignment Agreement (the “Agreement”) provides for the terms and conditions governing the contractual relations between Patriot Bands LLC (the "Consignor") and the business whose information is indicated in the Vendor Information form (the "Consignee"). The individual completing and submitting this form avows under penalty of perjury that he/she/they has full authority to act of behalf of Consignee, and acknowledges that checking the box agreeing to Terms & Conditions carries the same legal bonds as a written signature. Consignor and Consignee enter into this Agreement:
WHEREAS, Consignor owns right and title to the commodities on consignment (the “Merchandise”),
WHEREAS, Consignee desires to take possession of the Consigned Items with the intention of selling the said merchandise on behalf of the Consignor;
NOW, THEREFORE, in consideration of the mutual covenants and promises made by the parties hereto, the Consignor and the Consignee (individually, each a “Party” and collectively, the “Parties”) covenant and agree as follows:
GOODS. The following products shall be sold on consignment:
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Item: |
Item Description: |
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Patriot Bands |
Silicone, ink injected wristbands, various messaging |
RIGHT AND TITLE. The consignor owns the Merchandise until the same is purchased or to the terms agreed upon by the Parties.
RIGHT TO LIMITED USE AND SELL. Consignor grants Consignee the right to sell the Product. Consignee is likewise granted the right to display and sell the Merchandise in a way the Consignee finds it deemed best for said Merchandise to possibly be sold, but nonetheless in accordance with the terms and conditions specified in this Agreement.
PRICING. Consignor grants Consignee full discretion in pricing. Consignor recommends pricing of $5.00 USD per unit of Merchandise; however, final pricing is to be determined by the Consignee. Monthly remittance and fee structure is set forth below.
CREDIT SALE. The consignor does not recommend a sale on credit term by Consignee to any party. In such a case Consignee provides such term to third parties, the full purchase price shall be assumed by the Consignee upon period of payment as if the same was paid in full at the time of sale.
CONSIGNMENT FEE. The Consignee shall be entitled to all proceeds in excess of $2.50 USD for each unit of Merchandise sold.
PAYMENT DELIVERY. Consignee shall deliver to Consignor payment of $2.50 USD per unit of Merchandise sold on every 10th day of every month, for all units of Merchandise sold in the month preceding the payment delivery date.
LOSS OF MERCHANDISE. Consignee shall compensate the Consignor for all lost Merchandise in the event of fire, damage, robbery, theft, or otherwise.
RETURN OF UNSOLD MERCHANDISE. The Consignee shall return the unsold merchandise within thirty (30) days of written request from Consignor. In the case that Merchandise is not returned within the period prescribed, the said merchandise shall be considered sold and cost shall be borne by Consignee.
DELIVERY EXPENSES. Consignor shall bear the cost of shipping expenses for the delivery of the Merchandise. Consignee shall bear the cost of shipping expenses for the return of the Merchandise, unless otherwise agreed upon by both Parties.
INDEMNITY. Each Party hereby agrees to indemnify and hold harmless the other, their employees, representatives, and assigns, against any and all damage, liability and loss, and other damages that may arise or otherwise related to this Agreement except in such that a competent court finds that one Party caused deliberate damage, liability, or loss through bad faith, willful misconduct, or gross negligence, in which case no indemnification shall be provided for the said Party.
MODIFICATION. No amendments, changes, or modifications to this Agreement shall be considered to have been made and valid unless otherwise made in writing, agreed upon and signed by both Parties.
COUNTERPARTS. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute as one and the same Agreement.
NON-TRANSFERABILITY. This Agreement may not be assigned, alienated, attached, pledged, or otherwise sold to any party in whole or in part.
ASSIGNMENT. This Agreement inures the benefit of and is binding upon the assigns, heirs, respective successors, and legal representatives.
GOVERNING LAW. This Agreement shall be construed under the terms of the governing laws and jurisdiction of the state of Virginia, to the exclusion of other states.
TERMINATION. This Agreement will begin at the time of the date of its execution, and upon signing of the Parties and will cease upon express written intent of any of the Parties herein.
IN WITNESS WHEREOF, the Parties hereunto have executed this Agreement.