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Equipment Consignment Agreement
Equipment Consignment Agreement
1
EQUIPMENT CONSIGNMENT AGREEMENT
This Agreement is made and entered into as of this __________ day of ___________,
20__, by and between ________________________ (“Customer”), and
___________________________(“Dealer”).
In consideration of the mutual obligations and undertakings hereafter set forth, Customer
and Dealer hereby covenant and agree as follows:
1. Consignment. Customer hereby delivers to Dealer, on a consignment basis, all of
the equipment individually identified on Exhibit A attached hereto and incorporated herein
(collectively the “Equipment”). This means that Customer owns the Equipment and is
responsible for all expenses of the Equipment until sold to a third party purchaser. In no event
shall Dealer own the Equipment, but will have the right to sell such Equipment on behalf of
Customer.
2. Retention of Title. In no event shall title to any of the Equipment be deemed to be
transferred to Dealer and the title to the Equipment shall be retained by Customer until such time
as the Equipment is sold to a third party purchaser.
3. Listing Fee. Upon delivering Equipment to Dealer, Customer shall pay Dealer a
nonrefundable fee of _________________ ($_______) per Equipment item for the cost of listing
an Equipment item for sale, including but not limited to costs associated with storing and
advertising the Equipment for sale (“Listing Fee”).
4. Sale of Equipment; Allocation of Proceeds; Payments to Customer Upon Sale.
(Check the applicable section.)
Customer hereby authorizes Dealer to sell any or all of the Equipment listed on Exhibit
A attached hereto in the ordinary course of Dealer’s business on Customer’s behalf and further
agrees that Dealer shall retain a _____% of the sale as a consignment fee for Dealer’s sale of
such Equipment item. Promptly after Dealer’s receipt of payment for the sale of such Equipment
item, Dealer shall subtract its consignment fee and remit the remaining amount to the Customer.
or
Customer hereby authorizes Dealer to sell any or all of the Equipment listed on Exhibit
A attached hereto at the base net price (“Base Net Price”) listed on Exhibit A for each Equipment
item in the ordinary course of Dealer’s business on Customer’s behalf, so long as the amount of
cash received equals or exceeds the Base Net Price of the Equipment item being sold. The
parties agree that if an Equipment item is sold using the Base Net Price method, then upon the
sale of any Equipment item (a) Customer shall be entitled to a cash amount equal to the Base Net
Price for such Equipment item and (b) Dealer shall be entitled to retain all additional proceeds
received on the sale of such Equipment item as a consignment fee for its sale of such Equipment
item. Promptly after Dealer’s receipt of payment for the sale of such Equipment item, Dealer
shall remit payment of the Base Net Price of the item of Equipment to Customer.
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