consignment agreement

This consignment agreement "agreement" is made effective as of __________________________________,

('effective day') by and between ___________________ ('consignor') and Revive Restored Furnishings ('consignee')

The parties agree as follows: 

RIGHT TO SELL: the consignor owns the merchandise.  In accordance with the agreement.  The consignor grants Revive Restored Furnishings an exclusive right to sell the merchandise under the terms of this agreement.  This exclusive right to sell applies worldwide.  Revive Restored Furnishings will use every possible platform to sell the consignee's merchandise, included but not limited to chairish, facebook marketplace, offer up, ebay and more.  The consignor will set the sales price.  

PROCEEDS OF SALE:  Revive Restored Furnishings will pay the consignor a portion of the sales proceeds of the sales.  That shall be calculated as follows:  If the merchandise sells within one month, it shall sell at full listed price and RRF shall take only a 30% share of the sale.  At the 45 days the merchandise will be marked down 10%.  At every 15 days the merchandise will be marked down an additional 10% and RRF's percentage shall reduce an additional 10%.  At the end of the 3rd month, the consignor and the consignee can revisit the agreement.  If the consignor wishes to remove their merchandise, they can.  At the end of the 1st month, the removal fee is 5% of the estimated value set by the consignor.   At the end of the 2nd month, the removal fee is 10% of the current listed price.  At the end of 3rd month the removal fee is 20% of the current listed price.   At the end of 4 months, the items belong to RRF.  

If there are shipping costs, the consignee will be responsible for 100% of the shipping costs.  If the consignee does not want the merchandise to be available to be shipped it will be noted in advance. 

RRF will pay the consignor their portion of the sale on the last day of every month less RRF's fee's.   Each payment will include a breakdown of the merchandise sold, the number of days it was in store, the price at which it sold, the percentage that was retained by RRF and the shipping costs if any. 

RECORDS: The consignee shall keep accurate records regarding the qualities of the merchandise that are sold.  The consignor shall have the right to inspect such records from time to time after providing reasonable notice of intent.

TITLE TO MERCHANDISE: Consigned merchandise belongs to the consignor until sold.

LOSS AND INSURANCE: RRF shall be responsible for all shortages, loss, or damages while the merchandise is under our control.  We will be responsible to inform our insurance company of any fluxuations in value of our warehouse.  We shall maintain insurance in adequate amounts to pay for any loss or damage to merchandise in the event of shortages, loss, or damage.  

PAYROLL TAXES: RRF is solely responsible for all payroll taxes for it's staff.  We shall indemnify the consignor against any liability for all employees payroll tax and insurance arising out of wages payable to persons employed by RRF in connection with this agreement.  

SALES TAXES: RRF is only responsible for gains for their portion of the sale (their percentage of the sale).  Any gains made by the consignor are the responsibility of the consignor.  

DEFAULTS: IF RRF fails to abide by the obligations of this agreement, including the obligation to remit the consignment payment to the consignor when due (last day of every month), the consignor shall have to option to cancel this agreement by providing 15 days written notice (email is fine) to RRF.  RRF will have those 15 days to provide corrective action to cure the default.  If no such corrective action occurs the agreement is automatically terminated and the consignor has the right to collect any and all merchandise they have in RRF, located at 10214 Georgibelle, suite 400, Houston, TX 77043.  

DISPUTE RESOLUTION: Parties will attempt to resolve any issues via dispute resolution.  Specifically through friendly negotiations by both parties.  If the matters cannot be resolved by friendly negotiation, then the parties will use the following Alternative Dispute Resolution ('ADR') procedure.

If any controversies, claims, or disputes arise out of or relating to this agreement cannot be resolved through negotiation, the parties agree to try in good faith to settle the dispute by mediation in accordance with any statutory rules of mediation. 

WARRANTIES: Neither party shall make warranties with respect to the use, sale, or other transfer of the merchandise by the other party or by any other party. in no event will the consignor be liable for direct , indirect, special, incidental, or consequential damages that are in any way related to the merchandise. 

SUCCESSORS AND ASSIGNS:  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns.

TERMINATION: This Agreement may be terminated by either party within the first THIRTY day of the Agreement by either party providing 5 days written notice to the other party.  After THIRTY days this Agreement shall not be cancelled due to the discount percentages taken over time.  

ENTIRE AGREEMENT: This Agreement contains the entire agreement of both parties with respect to the subject matter contained herein.   

This Agreement Is signed on this date __________________________ by:

____________________________________________                                    ___________________________________________

consignor                                                                                                Revive Restored Furnishings