What are the obligations of parties to a consignment?

A consignment agreement is entered into where one party (the 'consignor') supplies goods to another party (the 'consignee') for the purpose of selling those goods. The consignor will retain ownership of the goods until they are sold, despite the consignee possessing the goods.

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Florida
Miami-Dade
Contract for Sale of Book on Consignment

Miami-Dade Florida Contract for Sale of Book on Consignment

Category:

Contracts - Publishing

State:

Multi-State

County:

Miami-Dade

Control #:

US-01857BG

Format:

Instant download

Description

A consignment is an agreement made when goods are delivered to an agent or customer when an actual purchase has not been made, obliging the consignee to pay the consignor for the goods when sold. This consignment involves the sale of a book. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

A consignment agreement is a contract between the consignor and the consignee, and should include these basic provisions: Parties. Provide the names and addresses of the consignor and the consignee. Item(s) for sale.Pricing.Payment.Expenses.Record-keeping.Ownership.Insurance.

Consignment is an arrangement in which goods are left in the possession of an authorized third party to sell. A consignment shop, for example, will sell items produced or supplied by someone else, and pay them a portion of the profit.

If a bookstore agrees to carry your book on consignment, you essentially become your own distributor. You will need to agree with them upon a market price per unit (book). This total price comprises the percentage to be paid to yourself and the percentage for the store to keep from each sale.

For example, a consignment store might sell previously owned prom dresses by offering to pay a 20% revenue fee to anyone who wants to sell a dress through their store. Some examples of goods you may often see for sale using the consignment business model include: Antiques and collectibles. Magazines and newspapers.

A consignment agreement is entered into where one party (the 'consignor') supplies goods to another party (the 'consignee') for the purpose of selling those goods. The consignor will retain ownership of the goods until they are sold, despite the consignee possessing the goods.

The average percentage for consignment will vary based on what kind of item you're selling. Typical rates can range anywhere from 25% to 60%, depending on the item. The more valuable the item, the higher the consignment percentage you're likely to get. If you're an artist, you can also sell your art on consignment.

Each consignment shop ultimately creates their own consignment arrangement, but the typical split between the business and the individual seller ranges from 50/50 to 40/60 or 60/40. Who gets the bulk of the proceeds often depends on how established and successful the store is.

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In a bid to protect Florida's intellectual property, the Florida legislature has passed the Florida Book Trade Bill, which states: “(a) A person may not contract for the resale of a book or magazine other than a book or magazine that has been published for a minimum of 30 days, unless the person who contracted for the book or magazine is licensed to sell the book or magazine. “(b) A person that contracts for a book or magazine under this section shall not be permitted to resell that book or magazine to another person until the original contract has been completed for that book or magazine. “(c) A person that contracts for a book or magazine under this section shall post a notarized statement by an authorized representative of the person that the person has paid all monies advanced by the purchaser and that the person has copies of the contract.

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Miami-Dade Florida Contract for Sale of Book on Consignment

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What are the obligations of parties to a consignment?

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