Consignment Agreement
WHEREFORE, __________, Consignor of certain items more particularly
described hereinafter and Kalona Historical Village Gift Shop, Consignee for and
in exchange of good and sufficient consideration and the mutual promises and
undertakings set forth in this Consignment Agreement (“Agreement”) do agree to
the following:
1. Ownership. Consignor warrants, covenants and agrees that the items being
sold are owned by Consignor and that the parties agree that title to the
consignment shall remain in Consignor until such consignment is sold by
Consignee.
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 items. Consignor to provide
accurate lists of consigned items; successive lists will be appended to this
agreement.
3. Price. The offering price(s) are to be determined by Consignor. Consignee
agrees to inform Consignor of bona fide offers to purchase the consigned items
for prices less than the asking price set by Consignor. Consignor reserves the
exclusive right to accept a price less than the offering price.
4. Time of Payment(s) to Consignor. Consignor agrees that Consignee shall
make full payment on the sale of any consigned items on the first day of the
month following such sale.
5. Amount(s) of Payment(s) to Consignor. Consignor and Consignee that an
amount of 80% of the selling price as set by Consignor shall be due and payable
to Consignor upon the sale of the items subject to this Agreement if the
Consignor is a member in good standing of the Kalona Historical Society (KHS).
If a Consignor is not a member of the KHS, Consignor shall receive 70% of the
selling price. Consignee shall provide a monthly written statement listing all sales
made of the items subject to this Agreement.
6. Termination of this Consignment Agreement. Consignee may terminate
this Agreement at any time by returning to Consignor all of the unsold items
which are the subject of this Agreement. Consignor may terminate this
Agreement at any time so long as such termination is made before the sale of
items which are subject to this Agreement. All unsold items to be picked up by
Consignor at termination.
7. Operation of Consignee’s Business. Consignee shall have the exclusive
right to determine the business operation and management of its premises.