FORTUNE WIGS CONSIGNMENT AGREEMENT
This Consignment Agreement states the terms and conditions that govern the contractual agreement by and between:
THE CONSIGNOR and the CONSIGNEE: FORTUNE WIGS INC., located at address: 1838 CONEY ISLAND AVE BROOKLYN NY 11230,
RECITALS The Consignor owns right and title to the items described on Article 1 of this Agreement (the “Consigned Items”), and Fortune Wigs Inc. desires to take possession of the Consigned Items with the intention of selling it to a third party. The Consignor and Fortune Wigs Inc. hereby agree as follows:
Subject Matter. 1.1. The Consignor hereby grants to Fortune Wigs Inc.the exclusive right to display and sell the Consigned Items according to the terms and conditions of this Agreement.
- The selling price at which Fortune Wigs Inc. may sell the Consigned Items shall be determined upon the consignee’s evaluation based on fair trade value and must be agreed upon with the consignor. This agreed selling price must be enforced for the duration of this agreement ( 90 Days).
- The Consignor must allow Fortune Wigs up to 3 business days to Evaluate the Wig and determine if it will be accepted.
3.1. Fortune Wigs Inc shall be entitled to a 60% commission of the full purchase price of the Consigned Items (the “Consignment Fee”).
3.2. Within 10 days starting from when the sale is fully paid for, Fortune Wigs shall deliver to the Consignor the sale price of the Consigned Items less the Consignment Fee ( 40% of the sale price).The Consignor will be offered a second option of payment in the form of receiving double the payment amount to be used exclusively as Store Credit at Fortune Wigs Salon.
4.1. Fortune Wigs Inc. represents that in no event will they be liable for any direct or indirect damage to the Consigned Items whether it be due to fire, theft, or otherwise.
5. Location of Items
5.1. Fortune Wigs agrees and acknowledges that the Consigned Items shall only be kept and stored at any of the Fortune Wigs Locations ( 1015 Ave O or 1838 Coney Island Ave or 209 Williams St Lakewood NJ) unless otherwise agreed upon by the Consignor in writing.
6.1. In the event that all the Consigned Items are not sold within 90 days from this signed agreement, The consignor will have the option of taking back the consigned item, or agreeing to a reduced selling price, or give the consignee the right to donate the Wig to a charity ( IE: A Wig Gmach). If the consignor decides to take back the wig, any and all delivery expenses will be the responsibility of the consignor.
7. Consignor Representations and Warranties
7.1. The Consignor hereby represents and warrants that the Consignor holds full title (or has received, in writing, the authorization to sell the Consigned Items by any necessary parties) to the Consigned Items.
8. Consignor Expenses
8.1. As part of the evaluation process, the Consignor must pay a fee of $30 per wig for the Fortune Wigs to wash the wig and prepare it for sale. In the event that Fortune Wigs Inc. decides not to accept the Wig, the $30 Fee will be returned to the Consignor.
9.1. This Agreement may not be modified, amended, altered, or supplemented except by an agreement in writing executed by the parties hereto.
10. Resolving Disagreements
10.1. In the event of any disagreement between the parties, the first course of action must be to present our arguments to an agreed upon Rabbi as an arbitrator and both parties will agree to abide by that Rabbis ruling.
11. Entire Agreement
11.1. This Agreement supersedes all previous agreements, understandings, and arrangements between the parties, whether oral or written, and constitutes the entire agreement between the parties.