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Terms

  1. Ownership. Consignor warrants, covenants and agrees that the (property, home furnishings, jewelry and other items) being sold (is,are) owned by Consignor and that there are no liens, judgments or other encumbrances against the ownership, including all rights of sale or transfer, of the consigned (property, equipment, items).  The parties agree that title to the consignment shall remain in Consignor until such consignment is sold in severable parts or in whole by Consignee. Consignor agrees to be held personally liable for any problems, issue or court costs for any sale resulting or challenges made on behalf of ownership of title to any item. Consignor agrees to hold harmless 1SC, its trustees or heirs for any loss or damage of home furnishings, property or the like. Consignor will keep and hold their own personal insurance on all goods and merchandise.
  2. Description of Consignment. Consignor agrees to deliver and Consignee agrees to accept for the purpose of sale on the terms and conditions hereinafter recited in this Agreement, the following described (property, equipment, home furnishings, jewelry or other known) items listed on the last page of the agreement. Any items left in the consignors home or property will be listed as such and consignor will be held liable for such items delivery should a sale be reached.

2A.Consignor states and agrees that the description(s) of the consigned (property, or items) is/are true and correct to the best of Consignor’s knowledge and belief and further, that no undisclosed defects in such consignment are known to Consignor. Any damage to in-home consignments must be reported to 1SC immediately, in writing, by consignor or all fees will apply.

  1. Exclusivity of Agreement. Consignee shall (have/not have) the exclusive right to market and sell the (property, equipment, items) described hereinabove.

Consignor shall (have/not have) the right to sell the (property, equipment, home furnishings, jewelry or any items) described hereinabove for his own account.  If Consignor does sell the consignment listed in this Agreement, Consignee (shall/shall not) nonetheless be entitled to one half payment for the sale of such consignment on the terms and conditions of this Agreement.

  1. Price. The offering price(s) (is/are) to be determined by 1SC. 1SC agrees to inform Consignor of bona fide offers to purchase the consigned (property, equipment, items) for prices less than the asking price set by Consignor.  Consignor (reserves the exclusive right/grants the right to 1SC) to accept a price less than the offering price.
  2. Time of Payment(s) to Consignor. Consignor agrees that 1SC shall require and receive full payment on the sale of the consigned (property, equipment, items) prior to any obligation of Consignee to remit payment to Consignor for the same.  Upon receiving full payment for such sale, Consignee shall remit, in United States currency or a check drawn on a United States bank, the amount due to Consignor under this Agreement no later than the 15TH day of the month following the date of such full payment..  It is agreed that full payment shall be construed to mean and include ten (10) days for the clearing of any monetary instrument by 1SC s bank. 1SC shall be responsible to collect and make all sales tax payments, credit card fees and the like.
  3. Amount(s) of Payment(s) to 1SC. Consignor and consignee agree that an amount of /30%40% / 50%  (unless other provisions have been agreed upon) of the selling price as set and agreed to by Consignor shall be due and deducted from the sale of the (property, equipment, home furnishings, items) subject to this Agreement.  Consignee shall provide a written statement, as requested but not to be completed more than once a month, listing all sales made of the (property, equipment, home furnishings, items) subject to this Agreement including the dates of such sales, the total amount(s) received and the commission due to Consignee.  (An Exhibit “A” may be prepared to set out further agreements as to commission structure/rate/etc.)  The parties agree that Consignee may not/shall not for any reason withhold and retain the commission due 1SC from the amount to be remitted to Consignor under Article 5, or as amended, of this Agreement upon the sale of the consigned (property, equipment, items).
  1. Termination of this Consignment Agreement. 1SC may terminate this Agreement at any time by returning to Consignor any or all of the unsold (property, equipment, home furnishings, items) which is/are the subject of this Agreement at the consignors cost and expense.  Consignor may terminate this Agreement after 90 days, so long as such termination is made before the sale of any goods subject to this Agreement. Prior written notice of termination shall be required of a terminating party. (Notice shall be in writing, by fax, by email or by registered mail, ten days before deemed effective) Should consignor terminate Agreement the opposed agreed upon fees and all shipping fees are still due and payable to 1SC prior to removal of any goods or home furnishings.

         7A. Returns & Shipping. Consignor agrees that all items are returnable for a period of one week following any sale. Consignor also agrees that if an item is not ready for an agreed upon shipping schedule consignor is fully responsible for all fees incurred for shipping cancellation and commissions on the sale.

  1. Operation of Consignee’s Business. Consignee shall have the exclusive right to determine the business operation and management of its premises.  Consignor shall have no liability or responsibility for the operation and management of Consignee’s business, employees or agents.
  2. Advertising. 1SC may use Consignor’s name, address or other identifying information in the advertising, promotion and sale of the consigned (property, equipment, home furnishings, items).
  3. Assignment. This Agreement is not assignable and may not be modified other than by a written modification agreed to and signed by both parties.
  4. Construction. This Agreement shall be construed and governed according to the laws of the State of New York, Connecticut, New Jersey or the indicated state.
  5. Waiver. Waiver, forbearance, course of dealing or trade usage shall not affect the right of a party to demand performance of any term or condition of this Agreement.