Consignment Agreement

Closet Exchange Consignment Terms and Policies

 

Consignment Period- Articles accepted for consignment will be placed on sale for 60 days for Contemporary Brands and not more than one full calendar year for Designer Brands (see website lists).

 

Acceptable Consignment-  Among other factors, the age, brand, season and condition of an article will determine for how long an article is offered for sale. Any article accepted for consignment, at the sole judgment of the Closet Exchange, requiring dry cleaning, pressing or repairs will be at the consignor’s expense.

 

Returns- Articles may be reclaimed at any time during the consignment period. Responsibility for reclaiming unsold items is that of the consignor. Closet Exchange requires a minimum of 48 hours notice to arrange your reclaim. After the consignment period any unclaimed/unsold articles become property of Closet Exchange to be liquidated or donated to charity.

 

Pricing- Prices are determined by Closet Exchange. Promotional discounts and markdowns are taken at the

discretion of Closet Exchange.

Bag Authentication- Entrupy is a third party authentication paid service. Authentication payments are nonrefundable.

  • Without Consigning -  $40; paid upfront- certificate available.

  • New Consignor -  $30; paid upfront

  • Existing Consignor - $30; Taken from account balance or paid upfront if there is no balance.

 

Consignor receives the following commission based on selling price:

Under $29 -25%

$30 - $199 - 40%

$200 - $999 - 50%

$1000 - $1999 - 60%

$2000 - Up 70%

 

Payment-  For balances $50 or more, checks are mailed by the 15th of the following month for the previous month’s sales less applicable postage and handling. Balances less than $50 accrue to the next month; can be paid out, or used as store credit for purchases

 

After 12 months of inactivity remaining balances will be converted to a Closet Exchange Gift Card redeemable for store credit and mailed to the consignor at the address in our records, less applicable postage and handling.

 

Consignor represents that it is the owner of the consigned goods, has the legal right to enter into this Agreement, and guarantees that the goods are authentic, saleable and free of liens or any other claims.

 

Merchandise is left at Consignor’s risk and Closet Exchange is not responsible for loss by theft, damages, negligence or other cause. Consignor hereby waives any claims Closet Exchange has of the foregoing.

 

I have read, understand and agree to be bound by these terms and conditions as they may be modified from time-to-time and posted on the Closet Exchange website.

Consignor Signature:_____________________________ Date:________________

 

Thank you for consigning at Closet Exchange!