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Complete Home & Office Legal Guide
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Complete Home and Office Legal Guide (Chestnut) (1993).ISO
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1993-08-01
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CONSIGNMENT SALES AGREEMENT
____________________, referred to as OWNER, and
_______________________, referred to a CONSIGNOR agree:
____________________ consigns to _______________________ the
following described vehicle:
MAKE:
MODEL:
BODY TYPE:
YEAR:
VEHICLE IDENTIFICATION NUMBER:
The title to the same shall remain at all times until a bona-fide
sale in the owner of the consigned goods. OWNER may recall and
take possession of the consigned property at any time.
At all times CONSIGNOR has goods owned by ____________________ in
its possession, _______________________ shall, and at its expense,
maintain multi-peril inventory insurance in an amount equal to the
value of the goods with ____________________ named as a loss payee
on a long form loss payable clause. Should CONSIGNOR fail to
maintain such coverage, ____________________ may obtain the same,
and _______________________ shall upon presentation of an invoice
therefor, pay for the same on sight.
The minimum sales price for the vehicle shall be $ ____________
(_____________________________ & ____/100 dollars.) From the net
sales price, CONSIGNMENT merchant shall be allowed a flat fee of
$ _______ (_____________________________ & ____/100 Dollars)
The proceeds of the sale of the goods of owner shall be deposited
in a special escrow account and shall not be commingled with the
funds of _______________________, or the funds of others. The
funds received shall be deemed to be trust funds and shall be
deemed to be held in trust and for the sole benefit of
____________________. _______________________ is authorized,
provided that all accountings are timely filed and all sales
proceeds have been deposited to withdraw its commission from the
account. However, should any instruments accepted by
_______________________ not be honored, _______________________
shall remain liable to repay the same.
Dated:
FOR ____________________:
_______________________________________________
FOR _______________________:
_______________________________________________