Definition of Consignment


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.

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