CONSIGNMENT TERMS AND CONDITIONS
1. Right and Title
You, the consignor, warrants that you are the sole owner of the Consignment Item(s) being offered to Bagaholic and that the item(s) are free of any liens or encumbrances. The consignor also warrants that the item(s) are authentic and are not counterfeit or imitation goods. The Consignor owns the Consignment Item(s) until the same is sold by Bagaholic or to the terms agreed upon by the Parties.
2. Right to Limited Use and Sell
Consignor grants Bagaholic the right to sell the Consignment Item(s). Bagaholic is likewise granted the right to display and sell the Consignment Items in a way the Bagaholic finds it deemed best for said items to possibly be sold.
3. Selling Price
The Preliminary Selling Price Quote estimated by Bagaholic is based on the pictures and item description the Consignor provided. Bagaholic will determine the actual selling price of all item(s) after the item(s) have been received and inspected. Should the selling price be different to the Preliminary Selling Price Quote, Bagaholic will confirm the set price with the consignor before offering the item for sale. If, at any time, Bagaholic determines that the price of the item(s) should be adjusted the consignor will be consulted prior to any adjustment.
4. Item delivery to Bagaholic
The Consignor shall be responsible for shipping the Consignment Items to Bagaholic. The Consignor will assume all responsibility and risk for the Consignment Items until they are delivered and signed for by Bagaholic.
5. Item Acceptance
Once consignment item(s) are received by Bagaholic, Bagaholic will examine the item(s) and accept item(s) for sale at its own discretion. Bagaholic reserves the right to return the item(s) to the Consignor at his/her costs if item(s) condition is found to be different to Consignor’s original description upon inspection or if item(s) cannot be identified as being authentic. An administration fee of $85 may be charged to the Consignor in case if item(s) cannot be identified as being authentic, before the item(s) are returned to the Consignor.
6. Selling Period
Your agreement with Bagaholic lasts for a period of 90 days from the later of when this agreement is signed by both parties, or when the consignment item(s) are received and accepted by Bagaholic. This agreement may be renewed by the Parties mutual agreement for a further 30 days.
7. Sales Commission
Bagaholic will retain 20% of the item(s) sales price, or a minimum of $300, as commission upon successful sale of item(s).
Bagaholic shall deliver the proceeds of the sale less commission once the consigned item(s) are sold. Payment will be made directly into the Consignor’s nominated bank account within 7 days of the sale of the item(s).
Bagaholic shall maintain insurance coverage of the Consignment Item(s) while they are in possession of Bagaholic, which shall be sufficient to compensate the Consignor in the event of fire, damage, robbery, theft, or otherwise.
10. Agreement Expiration and Termination
This agreement will expire at the end of the selling period. Unsold items can be picked up by consignor, or will be returned to the consignor by tracked courier. The consignor may cancel the consignment and retrieve the item(s) at any time during the consignment period by written confirmation. An administration fee of $100 will be charged to the consignor for early consignment termination. Bagaholic reserves all rights to terminate this Agreement with one week notice.
11. Governing Law
This Agreement shall be constructed under the terms of the governing laws and jurisdiction of New Zealand.