This Consignment Agreement (the “Agreement”) states the terms and conditions that govern the contractual agreement between _________________________________, located at ___________________________________ (the “Consignor”) and Silver Screen Toys & Collectibles, located at 54 Anne St. Unit 1, Bobcaygeon Ontario (the “Consignee”) who agree to be bound by this Agreement.
WHEREAS, the Consignor owns the items described on Appendix A attached hereto (the “Consigned Items”), and the Consignee desires to take possession of the Consigned Items with the intention of selling it to a third party.
NOW, THEREFORE, in consideration of the mutual covenants and promises made by the parties hereto, the Consignor and the Consignee (individually, each a “Party” and collectively, the “Parties”) covenant and agree as follows:
RIGHT TO SELL. The Consignor hereby grants to the Consignee the exclusive right to display and sell the Consigned Items according to the terms and conditions of this Agreement.
MINIMUM PRICE. The minimum price at which the Consignee may sell the Consigned Items shall be the amount detailed in “Appendix A” (the “Minimum Price”). In the event the Consignee sells the Consigned Items for less than the Minimum Price, the Consignor shall be entitled to the same payment the Consignor would receive as its share of the sale price under this Agreement had the Consigned Items been sold for the Minimum Price.
CONSIGNMENT FEE. The Consignee shall be entitled to _____% of the full purchase price of the Consigned Items (the “Consignment Fee”).
Within 30 days from the sale of the Consigned Items, the Consignee shall deliver to the Consignor the sale price of the Consigned Items less the Consignment Fee. Under normal circumstances this will usually be the 2nd of each month, except where statutory holidays occur or other arrangements have been made between The Parties.
INSURANCE. The Consignee represents and warrants that the Consignee shall maintain insurance coverage sufficient to compensate the Consignor for the fair market value of the Consigned Items in the event of damage due to fire, theft, or otherwise.
LOCATION OF ITEMS. The Consignee agrees and acknowledges that the Consigned Items shall only be kept and stored at 54 Anne St. Unit 1, Bobcaygeon Ontario, unless otherwise agreed upon by the Consignor in writing.
TOY SHOWS. The Consignor agrees to their items being transported to and from toy and other applicable trade shows for the express purpose of selling them in accordance with all other applicable terms of this agreement.
TIMEFRAME. In the event that all the consigned Items are not sold within 90 days of this agreement, either party may terminate this agreement by notifying the other in writing. Item return delivery costs in these circumstances shall be borne by the Consignor.
CONSIGNOR REPRESENTATION. The Consignor hereby represents and warrants that the Consignor holds full title (or has received, in writing, the authorization to sell the Consigned Items by any necessary parties) to the Consigned Items.
EXPENSES. The Consignee shall bear all expenses for shipping the Consigned Items.
NO MODIFICATION UNLESS IN WRITING. No modification of this Agreement shall be valid unless in writing and agreed upon by both Parties.
APPLICABLE LAW. This Agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of the Province of Ontario.
IN WITNESS WHEREOF, each of the Parties has executed this Contract, both Parties by its duly authorized officer, as of the day and year set forth below.
Agent for Silver Screen Toys & Collectibles