Free Consignment Agreement

This Consignment Agreement ("Agreement") is made and entered into as of the 15th day of August 2050, by and between:

Consignor: [Your Name],
[Your Company Name],
[Your Company Address]
Email: [Your Company Email]

Consignee: Sarah Johnson,
Sarah's Boutique,
789 Maple Avenue, Suite 101, Springfield, IL 62705, USA
Email: sarah.johnson@sarahsboutique.com

I. Description of Goods

The Consignor agrees to deliver the following goods to the Consignee for sale on consignment:

1. Item Description: Women's winter jackets, sizes M and L, colors: Black, Navy Blue, and Burgundy.

2. Condition: New

3. SKU/Barcode: 001-M-BLK, 001-M-NVY, 001-M-BUR, 001-L-BLK, 001-L-NVY, 001-L-BUR

II. Terms of Sale

1. Sale Price: The Consignee agrees to sell the goods at the retail price of $150 each, or as otherwise agreed in writing.

2. Commission: The Consignee will receive a commission of 20% of the gross sales price of each item sold.

3. Minimum Sale Price: The minimum sale price for each item will be $120.

III. Duration of Agreement

1. Effective Date: This Agreement will commence on the 15th day of August 2050.

2. Term: The Agreement will remain in effect for a period of 6 months unless terminated earlier in accordance with the Termination section.

3. Renewal: This Agreement may be renewed for additional terms by mutual written consent of both parties.

IV. Payment Terms

1. Payment Schedule: The Consignee shall remit payment to the Consignor within 15 days following the end of each calendar month.

2. Payment Method: Payments will be made via bank transfer to the Consignor’s designated account.

3. Invoice: The Consignee shall provide an invoice detailing sales and commission calculations with each payment.

V. Responsibilities

1. Consignee’s Duties:

   • Store and display the goods in a manner that protects their condition.

   • Actively promote and sell the goods.

   • Provide regular updates to the Consignor regarding sales and inventory status.

2. Consignor’s Duties:

   • Deliver goods in good condition.

   • Provide accurate descriptions and pricing information.

   • Handle any returns or claims related to the goods.

VI. Termination

1. Termination by Notice: Either party may terminate this Agreement by providing 30 days written notice to the other party.

2. Immediate Termination: This Agreement may be terminated immediately if either party breaches any material term of this Agreement.

3. Post-Termination: Upon termination, the Consignee will return all unsold goods to the Consignor and settle any outstanding payments.

VII. Dispute Resolution

1. Negotiation: Any disputes arising from this Agreement shall first be attempted to be resolved through negotiation between the parties.

2. Mediation: If negotiation fails, the dispute shall be submitted to mediation under the rules of the American Arbitration Association (AAA).

3. Arbitration: If mediation does not resolve the dispute, it shall be settled by binding arbitration in accordance with the rules of the American Arbitration Association (AAA).

VIII. Miscellaneous

1. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois.

2. Entire Agreement: This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings.

3. Amendments: No amendment to this Agreement shall be effective unless in writing and signed by both parties.

4. Severability: If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

IN WITNESS WHEREOF, the parties hereto have executed this Consignment Agreement as of the date first above written.

Consignor:

Name: [Your Name]
Title: Owner

Consignee:

Name: Sarah Johnson
Title: Owner

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