Ever heard of Consignment? The English word consignment is from the French word “consigner,” which means “to deposit,” as in to drop off items for sale. For once, Consignment is an arrangement between a reseller (consignee) and their supplier (consignor), that allows the reseller to pay for their products after the products have been sold. Consignment businesses are typically retail stores that specialize in a particular type of consumer product. The party that sells the goods on consignment receives a portion of the profits, either as a flat rate fee or commission. Selling via a consignment arrangement can be a low-commission, low-time-investment way of selling items or services. Consignment agreements allow a consignee to sell goods on behalf of a consignor without having to purchase the goods. Features of Consignment is that the goods are owned by the consignor, the agent gets a commission as a result of his services, the consignor is responsible for profit and loss, the agent or consignee acts as per the orders of the principal and often the sale details are sent to the sender by the agent.

Sreekala P

52 resources

0

0

1

Like