consignment


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Consignment

The delivery of goods to a carrier to be shipped to a designated person for sale. A Bailment of goods for sale.

A consignment is an arrangement resulting from a contract in which one person, the consignor, either ships or entrusts goods to another, the consignee, for sale. If the goods are transported by a carrier to the consignee, the name of the consignor appears on the bill of lading as the person from whom the goods have been received for shipment. The consignee's name appears on it as the person to whom delivery is to be made. The consignee acts as an agent on behalf of the consignor, a principal, in selling the goods and must take reasonable care of them while in his or her possession. The consignor does not give up ownership of the goods until their sale.

Under the terms of the consignment contract, the consignee agrees to pay the consignor a balance of the price received for any goods sold, which has been reduced by a fee, usually a small percentage of the sale price. Any goods that have not been sold must be returned to the consignor.

Cross-references

Shipping Law.

consignment

v. the act of consigning goods to one who will sell them for you or transport them for you. (See: consign, consignee)

consignment

noun allocation, allotment, assignation, assignment, cession, concession, consignation, conveyance, conveyancing, delivering to, dispatchment, distribution, expressage, goods shipped, merchandise sent, sending, shipment, shipping, transfer, transference, transferring, transmission
Associated concepts: consignment for sale, consignment shipper
See also: alienation, apportionment, assignment, cargo, delegation, freight

consignment

the sending of goods. The person sending them is the consignor and the person to whom they are sent the consignee.

The consignor is generally responsible for the payment of any charges. The rights and liabilities of the consignor and consignee on the one hand and the carrier of the goods on the other will usually be based on the terms of the contract of carriage. See BILL OF LADING, CARRIAGE BY AIR, CARRIAGE BY RAIL, CARRIAGE BY ROAD, CARRIAGE BY SEA.

CONSIGNMENT. The goods or property sent by a common carrier from one or more persons called the consignors, from one place, to one or more persons, called the consignees, who are in another. By this term is also understood the goods sent by one person to another, to be sold or disposed of by the latter for and on account of the former.

References in periodicals archive ?
We have started specializing more and more in consignment.
In our business, over the last three years, consignment figures have plummeted," he said, adding that Safavieh's consignments accounted for 60 percent to 70 percent of sales in the past.
Leading by example is Palletways, which has committed significant resources and investment to the development of pioneering and customer facing IT systems for the overnight distribution of small consignments of palletised freight.
This explains a consignment to the desembargador Joao Marques Bacalhao, Conservador do Tabaco in Lisbon described as the 'produto do tabaco da Xina'.
CONSIGNMENT will appeal to fans of atmospheric mysteries, puzzles and noir thrillers.
Representative of the commissioner-general of UNRWA Ambassador Peter Ford, Director of UNRWA's health Departmen Dr Akihiro Saita, Bahrain's Ambassador to Jordan Nasser bin Rashid Al Kbi, UNRWA foreign relations and projects director Muneer Alias Minah, Jordan Hashemite Charity Ogranisation's delegation and Arab and international news agencies were present upon the arrival of Bahrain's consignment in Jordan.
Custom officials said they had received some information before hand, which is why they were easily able to recover the consignments.
com, or visit the Back to the Rack Consignment Facebook page and become a fan.
Court records said a businessman sent from China to Iran a consignment of natural graphite substance that is used for paints and brake pads.
24 -- Sri Lanka has sent the second consignment of flood relief to Pakistan.
May 27 2010 -- The Hungarian Agricultural Office, Food and Feed Control Department has detected Salmonella Mbandaka in a consignment of linseed oilcake from Ukraine.