A Consignment Store Agreement is essential for businesses operating under a consignment model in India, where products are placed with retailers while maintaining ownership with the original supplier until final sale. This document type is particularly relevant in the current Indian retail landscape, where consignment arrangements offer flexibility and reduced risk for both parties. The agreement must comply with Indian Contract Act, 1872, Sale of Goods Act, 1930, and relevant GST regulations. It typically includes detailed provisions for inventory management, commission structures, reporting requirements, and risk allocation. The Consignment Store Agreement is particularly valuable for businesses looking to expand their market presence without significant capital investment in physical retail infrastructure, while ensuring clear legal protection for both consignor and consignee under Indian law.
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1. Parties: Identifies and provides full details of the consignor and consignee, including registration numbers and addresses
2. Background: Explains the context of the agreement, including the nature of the business relationship and general purpose
3. Definitions: Defines key terms used throughout the agreement, including technical and commercial terms
4. Appointment and Scope: Details the appointment of the consignee and scope of consignment arrangement
5. Term: Specifies the duration of the agreement and renewal terms
6. Consignment Process: Outlines the process for delivery, storage, and handling of consigned goods
7. Pricing and Commission: Details the pricing mechanism, commission structure, and payment terms
8. Title and Risk: Clarifies that title remains with consignor until sale and allocates risk responsibilities
9. Obligations of Consignor: Lists all responsibilities and obligations of the consignor
10. Obligations of Consignee: Details all responsibilities and duties of the consignee
11. Reporting and Accounting: Specifies reporting requirements, accounting procedures, and audit rights
12. Insurance and Liability: Covers insurance requirements and liability allocation between parties
13. Termination: Details grounds for termination and post-termination procedures
14. Dispute Resolution: Specifies mechanism for resolving disputes, including jurisdiction
15. General Provisions: Includes standard legal provisions like notices, amendments, waiver, etc.
1. Exclusivity: Include when the consignee is granted exclusive rights in specific territories or for specific products
2. Marketing and Display: Include when specific requirements exist for product display and marketing
3. Return Policy: Include when there are specific procedures for handling customer returns
4. Quality Control: Include for products requiring specific quality standards or handling procedures
5. Intellectual Property: Include when branding, trademarks, or other IP rights need protection
6. Data Protection: Include when personal customer data or sensitive business information is involved
7. Force Majeure: Include when specific force majeure provisions beyond standard ones are needed
8. Training Requirements: Include when staff training for product handling or sales is required
1. Schedule 1 - Product List: Detailed list of products covered under the consignment arrangement
2. Schedule 2 - Commission Structure: Detailed breakdown of commission rates and calculation methods
3. Schedule 3 - Operating Procedures: Detailed procedures for handling, storing, and selling consigned goods
4. Schedule 4 - Reporting Format: Templates for required regular reports and accounting statements
5. Schedule 5 - Territory Definition: Definition of geographical areas covered by the agreement
6. Appendix A - Insurance Requirements: Detailed insurance requirements and minimum coverage levels
7. Appendix B - Quality Standards: Specific quality standards and inspection procedures
8. Appendix C - Return Procedures: Detailed procedures for handling customer returns and damaged goods
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