Goods in transit under a bill of lading; the delivery of merchandise from an exporter (the consignor) to an agent (the consignee) under agreement that the agent sell the merchandise for the exporter's account
In a consignment, the consignor (owner of the goods) transfers goods to the consignee The consignor retains legal title and includes the goods in his inventory The consignee is acting as an agent in an attempt to sell the goods Although the consignee is temporarily holding the goods, the inventory is not an asset on his books If a sale occurs, the consignee deducts from the selling price his commission and related expenses, remitting the balance to the consignor
A term pertaining to merchandise shipped to a consignee abroad when an actual purchase has not been made, under an agreement by which the consignee is obligated to sell the goods for the account of the consignor, and to remit proceeds as goods are sold
A shipment of goods made under an agreement whereby the receiver undertakes to sell or otherwise dispose of the goods as an agent on behalf of the shipper The latter retains title to the goods until they are sold or disposed of according to the arrangement
A shipment made by a producer or dealer to an agent elsewhere with the understanding that the commodities in question will be cared for or sold at the highest obtainable price Title to the merchandise shipped on consignment rests with the shipper until the goods are disposed of according to agreement
A quantity of plants, plant products and/or other articles being moved from one country to another and covered, when required, by a single phytosanitary certificate (a consignment may be composed of one or more lots)
A procedure in which one business (the consignee) accepts goods from another business (the consignor) for sale on a commission basis Consigned goods should be counted in the inventory of the consignor
Delivery of merchandise from an exporter (the consignor) to an agent (the consignee) under the agreement that the agent will sell the merchandise for the exporter The exporter holds title to the goods until they have been sold The consignee sells the goods for commission and remits the net proceeds to the consignor
The buyer acts as agent for the seller/exporter, selling goods for commission and remitting the net proceeds to the seller as the goods are sold Banks are generally not involved in these transactions
Delivery of merchandise from an exporter to an agent under agreement that the agent sell the merchandise for the account of the exporter The consignor retains title to the goods until the consigneee has sold them The consignee sells the goods, collects the commission due and remits the net proceeds to the consignor
Goods shipped for future sale or other purpose, with title remaining with the shipper or consignor The receiver (consignee), upon acceptance, is accountable for the consigned goods although payment is not made until a later date Consigned goods are a part of the consignor's inventory until sold The consignee may be the eventual purchaser, may act as the agent through whom the sale is made, or may otherwise dispose of the goods in accordance with his agreement with the consignor
A separate identifiable number of goods (available to be) transported from one consignor to one consignee via one or more than one modes of transport and specified in one single transport document Synonym for the USA: Shipment
A term used for merchandise shipped from an exporter (consignor) to an importer (consignee) for the importer to sell The consignor retains title to the goods until the consignee has sold them The consignee sells the goods for commission and remits the net proceeds to the consignor
Delivery of merchandise from an exporter (the consignor) to an agent (the consignee) under agreement that the agent sell the merchandise for the account of the exporter The consignor retains title to the goods until the consignee has sold them The consignee sells the goods for commission and remits the net proceeds to the consignor
in real estate finance, the process in which the FSLIC replaces the management of an insolvent savings and loan association, but allows the association to continue operating Example: Under the Southwest Plan, many savings and loan associations in Texas were placed under a consignment program, in which experienced managers from other S&Ls were recruited to run the associations under federal supervision
Term of sale wherein a seller delivers goods to the buyer but retains legal ownership of the goods until they are re-sold by the buyer The buyer is responsible for remitting payment to the seller at time of re-sale to the end-buyer