consignment

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Transaction that permits the return of unsold and undamaged merchandise. Consignment is widely utilized by newsstand retailers of magazines, who can return unsold copies to the wholesale distributors supplying them. Merchandise can be consigned by manufacturers to wholesalers or by wholesalers to retailers. Payment may be required in advance and subsequently refunded, based on returns.

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.

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Specialized way of marketing certain types of goods.
The consignor delivers goods to the consignee who acts as the consignor's agent in selling the merchandise to a third party. The consignee accepts the goods without any liability except to reasonably protect them from damage. The consignee receives a commission when the merchandise is sold. Goods on consignment are included in the consignor's inventory and excluded from the consignee's inventory since the consignor has legal title.

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Turning over goods for an agent to sell, with the provision that payment is made only on completed sales and that unsold goods may be returned to the consignor. For example, This secondhand shop accepts items of clothing on consignment. [c. 1700]

n

Definition: entrusting, handing over
Antonyms: holding, keeping, receiving, retention

This entry contains information applicable to United States law only.

The delivery of goods to a carrier to be shipped to a designated person for sale. A bailment of goods for sale.

A consignment is an arrangement resulting from a contract in which one person, the consignor, either ships or entrusts goods to another, the consignee, for sale. If the goods are transported by a carrier to the consignee, the name of the consignor appears on the bill of lading as the person from whom the goods have been received for shipment. The consignee's name appears on it as the person to whom delivery is to be made. The consignee acts as an agent on behalf of the consignor, a principal, in selling the goods and must take reasonable care of them while in his or her possession. The consignor does not give up ownership of the goods until their sale.

Under the terms of the consignment contract, the consignee agrees to pay the consignor a balance of the price received for any goods sold, which has been reduced by a fee, usually a small percentage of the sale price. Any goods that have not been sold must be returned to the consignor.

See: shipping law.

When goods are delivered to another company with the understanding that payment for the goods is only made once the goods are sold.

Investopedia Says:
Consignment can cover just about any type of business. It is advantageous for the seller of consigned goods, because they don't need to pay suppliers upfront.

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IN BRIEF: n. - The person who delivers over or commits merchandise.

Therefore, we strongly recommend that authorized consignors make the necessary arrangements to obtain a fall back stamp as soon as possible. — www.yourdictionary.com

LearnThatWord.com is a free vocabulary and spelling program where you only pay for results!

For a list of words related to consignment, see:

• Decisions, Judgments, and Conditions - consignment: delivery of property for sale by another with proceeds, less commission, returned to consignor
• Commerce and Trade - consignment: shipment of items to be sold; sale of personal items through a merchant on commission

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Dansk (Danish)
n. - forsendelse, sending

idioms:

• consignment on approval    parti i udvalg

Nederlands (Dutch)
zending, levering, het toevertrouwen aan, het bestemmen, het verzenden

Français (French)
n. - (Comm) expédition, livraison, lot
adj. - expédié

idioms:

• consignment on approval    envoi à vue, envoi à l'essai, lot à l'essai

Deutsch (German)
n. - Versendung, Sendung, Ladung
adj. - Kommissions-, Konsignations-

idioms:

• consignment on approval    Ansichtssendung

Ελληνική (Greek)
n. - αποστολή, μεταφορά (εμπορευμάτων κ.λπ.), φορτίο, παρτίδα
adj. - αποστολής

idioms:

• consignment on approval    αποστολή με δικαίωμα επιστροφής

Italiano (Italian)
spedizione, deposito, partita

Português (Portuguese)
n. - consignação (f), entrega (f)
adj. - em consignação

Русский (Russian)
отправка, груз, партия товара

Español (Spanish)
n. - consignación, envío, remesa
adj. - relativo a un envío o remesa

idioms:

• consignment on approval    envío a prueba

Svenska (Swedish)
n. - utlämnande, avsändning av varor, varusändelse, överlämnande
adj. - frakt-, varu-

中文（简体）(Chinese (Simplified))
委托

idioms:

• consignment on approval    供试用的

中文（繁體）(Chinese (Traditional))
n. - 委託

idioms:

• consignment on approval    供試用的

한국어 (Korean)
n. - 위탁, 위탁 화물, 위탁 판매

日本語 (Japanese)
n. - 委託, 委託貨物, 委託販売, 交付

idioms:

• consignment on approval    商品点検売買の条件で委託

العربيه (Arabic)
‏(الاسم) شحنه, ارساليه (صفه) بضاعه تحت التصريف, برسم الأمانه‏

עברית (Hebrew)
n. - ‮שליחה, משלוח, משגור‬

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