Comprehensive Consignment Agreement
CONSIGNMENT AGREEMENT
This Consignment Agreement (the "Agreement") is entered into by and between Front & Company Consignors, (hereinafter referred to as the "Consignor") and Front & Company Enterprises Ltd., located at 3772 Main Street, Vancouver, BC V5V 3N7 (hereinafter referred to as "Front & Company" or the "Company). This Agreement governs the consignment of goods by the Consignor to Front & Company under the terms and conditions set forth below.
1. Initial Assessment
1.1 Presence During Initial Assessment
The Consignor shall remain present on the premises during the entire duration of the Initial Assessment.
1.2 Item Selection Process
Front & Company reserves the exclusive right to reject any items for consignment. Items not selected will be returned to the Consignor at the conclusion of the assessment.
1.3 Abandonment of Items
Any items not retrieved by the Consignor on the same day will be considered abandoned and will be disposed of without further liability or recourse for any loss.
2. Sales Protocol for Selected Items
2.1 Appraisal and Recording
Selected items will be appraised and recorded in the Consignor’s account.
A consignment agreement will be established with Front & Company with a minimum sales period of around sixty (60) days (based on a two-month period). During this period, Front & Company will determine the optimal timeframe for selling the items.
2.3 Markdowns and Sales Floor Duration
Items will remain on the sales floor at the appraised price for a minimum of around thirty (30) days (based on a one-month period). Afterward, unsold items may be marked down by twenty percent (20%) and remain on display for a minimum of an additional thirty (30) days. Front & Company reserves the right to apply markdowns due to unforeseen damage, flaws, special promotions, or seasonal changes.
2.4 Liability for Loss or Damage
Front & Company shall not be held liable for any loss, theft, or damage to consigned items.
3. Authentication and Ownership Verification
3.1 Ownership Guarantee
The Consignor warrants and affirms legal and beneficial ownership of all consigned items and asserts the right to consign the items.
3.2 Authenticity Guarantee
The Consignor guarantees the authenticity of all items.
3.3 Authentication and Processing Fee
Front & Company reserves the right to return any items that cannot be authenticated during or after the initial assessment. A processing fee of fifty dollars ($50) will be assessed to the Consignor upon the retrieval of such items.
3.4 Item Retrieval
The Consignor must retrieve these items within seven (7) days of notification; otherwise, the items will be disposed of without liability or recourse for loss.
4. Item Withdrawal and Contract Cancellation Terms
4.1 Withdrawal of Items
If the Consignor requests the removal of any items from their account during the consignment period, a processing fee of five dollars ($5) per item will be charged.
4.2 Cancellation of Agreement
Should the Consignor request the removal of all consigned items, the consignment agreement will be terminated, subject to a cancellation fee of fifty dollars ($50).
5. Payment for Sold Items
5.1 Payment Percentage
Upon the sale of consigned items, the Consignor will receive forty percent (40%) of the sale proceeds, payable by cheque or store credit. In the case of store credit, the Consignor will receive fifty percent (50%) of the proceeds.
5.2 Collection of Proceeds
It is the responsibility of the Consignor to claim their share of the proceeds. Funds are to be collected within six (6) months of the sale, and can be requested from Front & Company upon further notice.
5.3 Lost Cheques and Payment Processing Fees
In the event that cheques issued by Front & Company are not deposited within the six (6) month claims period, a bank processing fee of fifteen dollars ($15) will be applied. Additionally, in cases of lost or damaged cheques, a new cheque may be reissued upon request. Reissued cheque payments will be subject to a bank processing fee of fifteen dollars ($15).
6. Procedure for Handling Unsold Items
6.1 Donation of Unsold Items
Unsold items will be earmarked for donation after their designated sales period unless otherwise agreed by the Consignor.
6.2 Reserved Items for Pickup
The Consignor may request to reserve unsold items for pickup.
6.3 Item Retrieval Deadline
The Consignor must collect unsold items within seven (7) days of notification. Items not retrieved will be donated without notice or further recourse. Additionally, any future unsold items from the Consignor will be donated without prior notice.
6.4 Proceeds from Donations
Donated items will be sold at Front & Company’s Rummage Sales, with percentage profits being donated to designated charities. Any remaining unsold items will be assessed for donation to a non-profit organization.
7. Terms of Contract
7.1 Accuracy of Contact Information
The Consignor is responsible for ensuring the accuracy of their contact information, keeping records up to date, and ensuring that the provided email address is capable of receiving correspondence from our team at consignment@frontandcompany.com.
7.2 Updates to Terms
These terms and conditions may be updated periodically and will be binding upon the Consignor. Continued consignment of items at Front & Company constitutes acceptance of the most current contract terms. The latest contract terms are available on our website at https://www.frontandcompany.com/pages/terms-and-conditions/ and can be provided upon request.
7.3 Superseding Previous Agreements
This Agreement supersedes and nullifies any prior consignment agreements between the Consignor and Front & Company.
8. Execution and Acknowledgement
By choosing to consign with Front & Company, or by continuing to consign items with the company, the Consignor acknowledges and agrees to the terms and conditions set forth in this Consignment Agreement.