These terms and conditions (“Agreement”) govern the consignment sales arrangement between Monty’s and you as the Seller for the sale of items listed on consignment. By engaging in consignment sales with Monty’s, the Seller agrees to be bound by these terms and conditions.
1. Consignment Agreement:
a. Monty’s agrees to accept the items from the Seller for the purpose of sale on consignment.
b. Monty’s acknowledges that all items remain the property of the Seller until sold to a third party.
c. Monty’s agrees to sell the items within the agreed-upon price range, or as mutually negotiated with the Seller.
d. The Seller confirms they are the owner of the item being listed for consignment and have the right to list it for sale.
e. The Seller acknowledges that items which are not authentic will incur a $150 fee to cover authentication, shipping and handling.
2. Commission:
a. Monty’s is entitled to a commission for each item sold, as agreed upon with the Seller prior to the commencement of consignment sales.
b. The commission percentage or amount shall be clearly stated in writing and agreed upon by both parties.
3. Pricing and Payment:
a. The Seller agrees to let Monty’s sell the item for a minimum agreed upon price.
b. A price range indication will be given prior to receiving the goods, but that may be renegotiated if the item was not represented correctly.
c. Payment to the Seller for sold items shall be made within 14 days of the sale, unless otherwise agreed upon in writing.
d. Monty’s shall provide the Seller with a sales report, including the quantity and price of each item sold, along with the total amount due to the Seller.
e. If the consignment is unsold after 60 days, the Seller agrees that the sale price may need to be renegotiated.
4. Returns and Refunds:
a. The Seller agrees to accept returns of consigned items in accordance with Monty’s 7 Day return policy.
b. Monty’s shall promptly notify the Seller of any returns and provide reasons for such returns.
c. The Seller acknowledges that returns will result in the item being re-listed for sale, and any pending payout will be cancelled.
5. Care of Items:
a. Monty’s agrees to handle, store, and display the items with care.
b. The Seller understands normal wear and tear may result from handling and displaying their consignment.
6. Duration of Consignment:
a. The Seller agrees to give Monty’s exclusive sales rights for a minimum of 60 days.
b. The Consignee agrees to return any unsold items to the Seller upon the expiration or termination of the consignment agreement at their request.
7. Termination:
a. Either party may terminate this agreement upon written notice to the other party after the 60 day period ends, with no additional charges.
b. If early termination is requested, a $100 charge will be incurred to cover Monty’s costs of preparing the consignment for sale.
c. In the event of termination, the Monty’s agrees to return all unsold items to the Seller within 14 days of termination.
8. Entire Agreement: This Agreement constitutes the entire understanding between the parties concerning the subject matter herein and supersedes all prior agreements and understandings, whether written or oral.
9. Amendment: No amendment to this Agreement shall be effective unless it is in writing and signed by both parties.
By engaging in consignment sales with the Consignee, the Seller acknowledges that they have read, understood, and agreed to be bound by these terms and conditions.
Monty’s
190 Wickham Street, Fortitude Valley, QLD, 4006