Consignment Inventory Agreement
What is consignment inventory agreement?
A consignment inventory agreement is a contractual arrangement between a consignor and a consignee. In this agreement, the consignor (the party supplying the goods) retains ownership of the inventory until it is sold by the consignee (the party selling the goods). The consignor only receives payment for the goods once they are sold, and any unsold inventory can be returned or renegotiated.
What are the types of consignment inventory agreement?
There are different types of consignment inventory agreements based on the arrangement between the consignor and consignee. Some of the common types include:
How to complete consignment inventory agreement
Completing a consignment inventory agreement involves several steps to ensure both parties are protected and understand their responsibilities. Here is a step-by-step guide:
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