“A sale on Consignment Agreement”, is a commercial agreement where one party the “Consignor” provides another party, the “Consignee” with its products and relies on the latter to sell them. The Consignor keeps the ownership of these products until they are sold by the Consignee.
This way of selling is normally used when consigners are pursuing further exposure of their products and aiming to increase the probability of purchase of the products.
The Consignor can request for a monthly sales report to be provided by the Consignee to track the status of these products.
The Consignee must return unsold products to the Consignor upon the termination or expiry of the Contract.
This Agreement includes the following sections:
1. Product Provisions
3. Product Selection
4. Merchandise Defects/Delivery
6. Floor Space
9. Trademark, Intellectual or Industrial Property Rights
10. Insurance and Liability for Loss
11. Termination of the Agreement
12. Consequences of Termination of the Agreement
15. Governing Law and Jurisdiction
16. Entire Agreement
This document is intended for use in the United Arab Emirates.
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