This Consignment Agreement ("Agreement") is entered into by and between the Consignor and the Consignee (SCC Consignments). The Consignor acknowledges that they have read, understood, and agree to the terms and conditions of this Agreement, which becomes binding and enforceable upon the delivery of items to the Consignee.
- Purpose
The purpose of this Agreement is to outline the terms under which the Consignor will consign goods to SCC Consignments for auction. - Goods
The Consignor agrees to consign goods (the "Goods") to SCC Consignments for sale at auction. The specific items will be provided by the Consignor at the time of consignment. The Consignor must ensure that all items passed to SCC Consignments can be sold individually. There will be no arrangement of items in lots. - Consignment Process
- Receiving and Sorting: SCC Consignments will receive the Goods and sort them for photo taking.
- Photography: Once the cards are sorted, photographs will be taken for listing purposes.
- Awaiting Listing: After photography, the items will await listing. This process, from receiving the cards to listing, will take approximately 2 to 3 weeks.
- Auction Duration: Each item will be listed and undergo a 7-day auction.
- No Bids Charge: If an item receives no bids during the auction, a charge of $1.50 USD will be applied to the Consignor.
- Self-Won Items: In the event any item is won by the Consignor, a charge of $5.00 USD will be imposed. Additionally, self-won items will be relisted when the statement is checked, along with items that have experienced non-payment.
- Payment Process: Once the auction has ended, SCC Consignments will check statements every Monday and transfer the amounts paid by the buyers to the Consignor no later than Wednesday. This process will continue weekly until the statement has been closed.
- Live Statements: All statements are live. An email will be sent to the Consignor once a buyer has paid, along with updates on the statement. The Consignor will also receive an email notification once an item is listed and when it has been paid for by the buyer.
- Pricing and Commission
- SCC Consignments shall retain a commission based on the rates outlined on our website at https://consignscc.com/ for the final sale price of each item sold at auction.
- The Consignor shall receive the remaining percentage of the final sale price after the commission is deducted.
- Payment Terms
- Payments to the Consignor shall be made within the timeline specified in the Consignment Process section.
- SCC Consignments shall provide an itemized statement of sales to the Consignor with each payment.
- Responsibilities of SCC Consignments
- SCC Consignments agrees to conduct the auction in a professional manner and will be responsible for all marketing and promotional activities related to the auction.
- SCC Consignments shall maintain accurate records of all transactions related to the consigned Goods.
- Responsibilities of the Consignor
- The Consignor warrants that they own the Goods and have the right to consign them.
- The Consignor shall provide any information about the Goods should there be any queries.
- The Consignor must ensure that all items passed to SCC Consignments can be sold individually, and there will be no arrangement of items in lots.
- Unsold Goods
At the end of the auction period, items that are unsold will be held for a period of 3 months. During this time, the Consignor may request the return of their items. After the 3-month holding period has expired, any unclaimed items will be disposed of. - Termination
Once an item goes live in the auction, there will be no termination of this Agreement concerning that item. - Indemnification
Each party agrees to indemnify and hold harmless the other party from any claims, losses, or damages arising from the actions or negligence of the indemnifying party. - Governing Law
This Agreement shall be governed by the laws of Singapore. - Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes any prior agreements or understandings, whether written or oral.
IN WITNESS WHEREOF, the parties hereto have executed this Consignment Agreement as of the date first above written.