Consignment involves the shipment of goods by a principal (consignor) to an agent (consignee) for sale. The consignee sells the goods on behalf of the consignor, often earning a commission upon sale. The process typically involves creating a detailed consignment account.
Consignment is a business arrangement in which goods are left in the possession of an authorized third party to sell. The owner of the goods (consignor) retains ownership until the goods are sold.
A consignment note is a key document used in shipping to provide details about a consignment of goods in transit. It is signed by the consignee upon delivery, serving as proof of receipt. The document includes information about the consignor and consignee, details about the goods, and typically their gross weight, as well as outlining who is responsible for insuring the goods during transit.
A consignor is any person or organization that sends goods to a consignee or a principal who sells goods on consignment through an agent, usually in a foreign country.
Demurrage is a charge levied on shipping vehicles when they are held by the consignor or consignee for an excessive amount of time beyond agreed laytime.
