WHEREAS, the Consignor owns right and title to the item(s)s described on Exhibit A attached hereto (the “Consigned Items”), and the Covert Instruments, LLC (“CI”) desires to take possession of the Consigned Items with the intention of listing it/them for sale on CovertInstruments.com and selling it to a third party.
NOW, THEREFORE, in consideration of the mutual covenants and promises made by the parties hereto, the Consignor and CI (individually, each a “Party” and collectively, the “Parties”) covenant and agree as follows:
RIGHT TO SELL. The Consignor hereby grants to CI the exclusive right to display and sell the Consigned Items according to the terms and conditions of this Agreement.
MINIMUM PRICE. The minimum price at which CI may sell the Consigned Items shall be [AMOUNT] (the “Minimum Price”). In the event CI sells the Consigned Items for less than the Minimum Price, the Consignor shall be entitled to the same payment the Consignor would receive as its share of the sale price under this Agreement had the Consigned Items been sold for the Minimum Amount.
CONSIGNMENT FEE. CI shall be entitled to 10% of the full purchase price of the Consigned Items (the “Consignment Fee”).
Within 7 days from the sale of the Consigned Items, CI shall deliver to the Consignor the sale price of the Consigned Items less the Consignment Fee and actual expenses of CI (including, but not limited to shipping charges).
LOCATION OF ITEMS. CI agrees and acknowledges that the Consigned Items shall only be kept and stored at the principle place of business of CI unless otherwise agreed upon by the Consignor in writing.
TIMEFRAME. In the event that all the Consigned Items are not sold within 60 days of listing on CovertInstruments.com, all unsold Consigned Items shall be returned to the Consignor with all delivery costs borne by the Consignor.
CONSIGNOR REPRESENTATION. The Consignor hereby represents and warrants that the Consignor holds full title (or has received, in writing, the authorization to sell the Consigned Items by any necessary parties) to the Consigned Items.
SHIPPING. The Consignor shall be responsible for shipping the Consigned Items to CI. CI shall be responsible for shipping the Consigned Items to the eventual purchaser.
EXPENSES. The Consignor shall bear all expenses for shipping the Consigned Items.
NO MODIFICATION UNLESS IN WRITING. No modification of this Agreement shall be valid unless in writing and agreed upon by both Parties.
APPLICABLE LAW. This Agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia and subject to the exclusive jurisdiction of the federal and state courts located in Spotsylvania, Virginia
IN WITNESS WHEREOF, each of the Parties has executed this Contract, both Parties by its duly authorized officer, as of the day and year set forth below.
[COVERT INSTRUMENTS, LLC]