Consignment is a collection of goods or materials to be sent, in transit or having been sent by owner (consignor) to another person or agent’s (consignee) custody for sale, keeping legal ownership of the goods or materials until they are sold. If sold the consignor will get the payment for sold items. Otherwise, will be returned. Consignment sales are happen based on contractual agreement or sales contract.
Mr. Tillerson is very much excited as he sent a consignment of his new set of machinery to his Chinese agent.
I amazed! XYZ company’s consignment is sold just in a week.
Today we got a letter from one of our Canadian agents informing that they are returning back almost half of our last consignment, as equipment are not being sold.