Consignment Terms

CONSIGNMENT TERMS AND CONDITIONS AGREEMENT


Effective Date: 10/03/2023
End Date: 

An agreement to sell luxury bags on consignment between

 

Within Your Budget LLC., an online store located at 148-06, 85th Ave. Jamaica, New York, 11435
(the Consignee/Seller)
AND

 
_____________________
(the Consignor)

 


WHEREAS, the Consignor owns the right and title to the luxury bag/s on consignment (referred to as the“Item/s");

WHEREAS, Consignee desires to take possession of the Consigned Items with the intention of selling the said Item/s on behalf of the Consignor;  

NOW, THEREFORE, in consideration of the mutual covenants and promises made by the parties hereto, the Consignor and the Consignee covenant and agree as follows:


OVERVIEW AND RIGHT TO SELL 

The Consignor agrees to display and sell the Item/s through the Consignee's online store, social media handlings, and other marketing venues/selling channels on a consignment basis. It means that the Consignor will still own the Item/s, even after the Consignor transfer the physical possession of the Item/s to the Consignee. After the Consignee receives or picks up the Item/s, the Consignor will inform the Consignee confirming the Item/s received. Once the Item/s have been evaluated, inspected, and authenticated by the Consignee's authentication team, the price/s of the accepted Item/s will be determined by the Consignee's sole discretion. The Accepted items will then be processed and listed as available for sale on the site. 

TITLE

  • The title and property of the Consigned Item/s shall remain with the Consignor until such time as the Consigned Item/s are purchased.

PRICES, FEES, AND EXPENSES

  • The Consignee determines the price based on data research, market value, competitor's pricing, item/s’ demand, condition, and what comes with the package.
  • The Consignee shall be entitled to 15% of the total commission per item.

(referred to as the “Consignment Fee”).

  • The Consignor shall bear all expenses of shipping the Item/s to the Consignee's premises. Upon delivery, the Consignee shall accept delivery of the Consigned Item/s.
  • Suppose the Consignor chooses to cancel the 90 days contract and take back the Item/s, the Consignee will issue a fine of $40 per item to cover the marketing and service cost acquired to list the Item/s and an additional of $20 for the authentication process (referred to as the“Cancellation Fee"). The Consignor shall cover the shipment to get their Item/s.

 

DELIVERY OF PROPERTY; RISK OF LOSS; INSURANCE 

  • The Consignee accepts the Item/s from the Consignor on a consignment basis only. The Consignor is responsible for all risk of loss or damage to the Item/s until the Consignee takes physical possession of it; however, if the Consignor wants it to be picked up by the Consignee, the Consignor and Consignee should make an agreement where and when the Item/s will be pick up.
  • Once the Item/s arrives at the Consignee, the Consignee shall maintain insurance coverage sufficient to compensate the Consignor for the fair market value of the Item/s in the event of damage due to fire, theft, or otherwise.

ITEM/S ACCEPTANCE CONDITIONS 

Upon receipt, the Consignee will evaluate each Item/s to determine its authenticity, quality, and value. The item's condition will affect the valuation.

The Consignee only accepts Item/s for consignment:

  • The Item/s should be clean and gently used. All Item/s will be quality checked; will inform the Consignor of all the items that have flaws.
  • NO stains, NO smells, and NO damages.
  • Item/s should be high-end designer brands and can be authenticated. The Item/s that will be accepted are as follows:

Alexander Wang

Balenciaga

Balmain

Bottega Veneta

Bvlgari

Burberry

Celine

Chanel

Chloe

Christian Louboutin

Coach

Dior

Dolce & Gabbana

Fendi

Givenchy

Goyard

Gucci

Hermès

Louis Vuitton

Marc Jacobs

MCM

Michael Kors

Miu Miu

Moncler

Prada

Rebecca Minkoff

Salvatore Ferragamo

Valentino

Yeezy

Yves Saint Laurent (YSL)
  • Other high-end designer brands that are not mentioned will be accepted as long as they can be authenticated by Entrupy, Real Authentication, Mercari, and other authentication services.
  • Ideally, all Item/s must come with an Authenticity Certificate or a piece of supplementary information such as an original receipt, manufacturer certificate, or any paper that will support its authenticity. 
  • The Consignor can authenticate the Item/s by themselves through Mercari before sending it to the Consignee.
  • The Consignee has an option to authenticate the Item/s on its in-house authentication through Entrupy or the Real Authentication and will send an invoice to the Consignor for the charges. The Consignor has to pay the authentication fee first to make the Item/s listed in the Consignee's online store. (This will be only applicable if the Item/s delivered does not have its Authenticity Certificate)
      • Please note that Within Your Budget LLC does not buy or sell counterfeit Item/s. Participating in counterfeiting is illegal. If the Item/s are deemed Non-Authentic, the Consignee will issue a fine of $20 for the authentication process and additional charges of $10 for the time spent on the process. The Consignor should ship back the Item/s themselves. If the fine is not paid or the Item/s are not picked up within one (1) week of drop-off, all Non-Authentic Item/s will be destroyed.

MARKUPS

  • The Consignee is entitled to add 20-70% marked up on top of the Consignor's last price per item.
  • The Consignor will get charged 25% if they make an additional markup on their last price per item (this will be done if the Consignee cannot add the 20-70% marked up on top of the Consignor's final price per item).

CONSIGNMENT PERIOD AND RETURN OF ITEM/S

  • The“Consignment Period”for each Item/s begins on the date the Consignor accepts the item for consignment and ends 90 days thereafter, even if this Agreement has been terminated during that time by the Consignor or the Consignee.
  • If the Consigned Item/s are not sold by Consignee after 90 days, all unsold Item/s shall be returned to the Consignor with all delivery costs borne by the Consignor.
  • The Consignor can decide to extend the consignment for another 90 days (no charges for extension). Must inform the Consignee before the end of the consignment period.

PAYOUT 

  • The Consignee will notify the Consignor once their item is sold and will issue a payout via email transfer or cheque. If the item is sold on a layaway plan, the Consignor shall expect the payout once the Item/s is fully paid by the client.

RIGHTS AND RESPONSIBILITIES

  • The Consignor must agree to participate in the Consignee's in-house layaway (per the Consignor's approval).
  • The Consignee is responsible for the Affirm charge if purchased through the website, credit card charges, and shipping to the client.
  • The Consignor's unopened box/package will be scheduled for Unboxing Live on the Consignee's Facebook group/page. This includes showing all the items inside the package.
  • The Consignee is entitled to choose as to which items will be included during Facebook Live.
  • The Consignor cannot intervene while the Consignee is doing live selling or message prospective clients.
  • This includes a Non-Disclosure agreement of how much the bag was sold to nor the information discussed between the Consignor and WITHIN YOUR BUDGET LLC; No conversation should be out in public. These remain between the Consignor and Within your Budget LLC.

IN WITNESS WHEREOF, each of the Parties hereby agrees to the terms set forth above by their signatures found below.

 CONSIGNOR CONSIGNEE

_______________________

 DHEVIE URDANETA
Signature over Printed Name
Date: mm/dd/yy 		Signature over Printed Name
Date: 10/03/2023