Consignment Contract

Olen Batchelor, Auction Einstein (Consignee) accepts on consignment for sale from ___________________(Consignor), the items listed on the attached inventory form. Consignor warrants to Consignee and any subsequent purchaser that Consignor has full title to all the items consigned. Consignor also warrants that all information regarding the items consigned is true and correct and will pay a fee of $50 for negative eBay feedback resulting from misrepresentation of item(s).

Consignee will take as commission ___% of sale price of each item sold on behalf of the consignor. Any sale resulting from contact initiated by the eBay listings will be subject to this commission fee. Consignee warrants that information regarding the sales of items and their sale prices shall be true and correct.

In addition to the commission a $______ fee per item for researching and listing will be charged.

Payment of the sales proceeds less commissions and costs will be made by Consignee within 5 days of notification from the buyer that he or she has received the item and is satisfied that it is as represented. If buyer is not satisfied and returns it, all moneys paid by the buyer will be refunded to him or her. If this occurs, unless a new contract is signed between Consignor and Consignee, the item will be returned to Consignee at the Consignees expense.

Consignor remains as owner of the item until buyer has received and accepted same. Consignor agrees that Consignee is hereby appointed and is acting solely as listing agent for the Consignor in selling the item(s).

If Consignor decides to withdraw the items for sale from the auction before the item is sold, Consignor must notify the Consignee by email or phone. Consignor will return the item(s) upon receipt of the costs of freight or postage, as specified by Consignee. Consignor must also reimburse Consignee for any expenses incurred by Consignee in preparing or listing the item(s) for sale which exceed the non-refundable listing and research fee. Consignor acknowledges that the amount of the listing and research fee originally paid was based on the Consignee's anticipation of receiving a commission upon the sale of the item(s), and may not be adequate to reimburse Consignee for time and expenses if Consignor changes his or her mind before the sale.

During the time that the Consignee is in possession of the item(s), Consignee will be responsible for any loss or damage to the item(s). Should the item(s) be lost or damaged in transit to the buyers, responsibility for such loss and damage shall be borne by the Consignee.

Prior to listing any of the items for sale, Consignee and Consignor shall establish a reserve price for each item. If the reserve is not met, Consignee may agree to relist item(s) one time with no additional charges beyond the eBay listing fees or return the item(s) to the Consignor at his or her expense.

This contract shall be for a term of 2 months beginning on the date the item(s) consigned are received by Consignee. Consignee will acknowledge receipt of the item(s) by email or regular mail, indicating whether any item has bee damaged in transit.
This agreement constitutes the entire understanding of the parties signing it. It cannot be changed without written permission of both parties.

Should any disputes arise concerning any matter referred to in this contract, both parties will refer the dispute to arbitration.

This contract is governed and shall be interpreted under the laws of the State of Tennessee. I have read the terms above and agree to them this ____ day of ____, 2004

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Consignee xxxxxxxxxxxxxxxxxxxxxxConsignor