Consignment

Consignment

Delivery of merchandise from an exporter (the consignor) to an agent (the consignee) under agreement that the agent sell the merchandise for the account of the exporter. The consignor retains title to the goods until the consignee has sold them. The consignee sells the goods for commission and remits the net proceeds to the consignor.

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Part of Speech: proper noun
Synonym(s):
Blossary:
Industry/Domain: Economy
Category: International trade
Company:
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Acronym-Abbreviation:

Collect to Blossary

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Related terms

consignment

Retail; Supermarkets

Items offered for sale on a cash or short-term credit basis. See commission merchant; guaranteed sale.

consignment

Accounting; Auditing

Transfer of possession but not title to goods. Title stays with the consignor, while the consignee has possession.

consign

Education; SAT vocabulary

To entrust.

consignment

Financial services; Commodity exchange

A shipment made by a producer or dealer to an agent elsewhere with the understanding that the commodities in question will be cared for or sold at the highest obtainable price. ...

consignment

Economy; International economics

1. Something that is put into the care of another, as when a batch of traded goods is consigned to a shipper for transport to another location. 2. A method of marketing in which ...

United Nations Center for International Trade Law (UNCITRAL)

Economy; International trade

An international body that drafts model laws such as the one on government procurement.

Uruguay Round

Economy; International trade

Multilateral trade negotiations launched at Punta del Este, Uruguay in September 1986 and concluded in Geneva in December 1993. Signed by Ministers in Marrakesh, Morocco, in April ...

variable levy

Economy; International trade

Customs duty rate which varies in response to domestic price criterion.

voluntary restraint arrangement (VRA)

Economy; International trade

Bilateral arrangements whereby an exporting country (government or industry) agrees to reduce or restrict exports without the importing country having to make use of quotas, ...

waiver

Economy; International trade

Permission granted by WTO members allowing a WTO member not to comply with normal commitments. Waivers have time limits and extensions have to be justified.