This agreement is held for a period of 4 months from the date of signing. This contract renews itself by date any new items are brought into store for consignment. By signing this agreement, Consignor warrants to Wall to Wall that Consignor has full title to all the items consigned. Consignor also warrants that all information regarding the items consigned is true and correct to the best of his or her knowledge. By signing this agreement, the Consignor acknowledges: 1. Consignor remains as owner of the items until purchased. Consignor agrees that Wall to Wall is hereby appointed, and is acting solely as, agent for the Consignor in selling the item(s). 2. That all accepted items will be kept at Wall to Wall from the date of item acceptance through either sale of the item or completion of the Consignment Window, whichever occurs first. 3. During the time that Wall to Wall is in possession of the item(s), Wall to Wall will be responsible for any loss or damage to the item(s) due to Wall to Wall's negligence, as per state law. II. Acceptance of Items for Consignment: 1. No item shall be accepted without signed current agreement; Wall to Wall reserves the right to refuse any item. 2. All consignors agree to all sales that Wall to Wall may have and agree to have their item included in the sale. 3. Prior to listing any of the items for sale, Wall To Wall shall establish a “List Price” for each item. 4. Unacceptable: Consignor will be notified of any items not accepted by Wall to Wall for consignment or purchase. 6. Consignment period: This period shall be broken into 4 phases: 1. Phase 1: the initial month - items will be listed for the full "List Price" 2. Phase 2: the following month - the "List Price" will be reduced by 10% 3. Phase 3: the third month - the "List price" will be reduced by 20% 4. Phase 4. The fourth month - the "List price" will be reduced by 35% If item does not sell, Consignor agrees to either remove the item from the store within 5 days or have item donated. III. Payments from Sale of Items: 1. Consignor will receive 50% of the sale price of each item unless otherwise agreed upon and noted on signed agreement. 2. Payment of the sale's proceeds less commissions and fees will be made on the 17th of each month for the prior month's sales. Payments will be available for pick up during regular business hours at Wall to Wall. We reserve the right to terminate this agreement at any time. 2. Agreement Violation: If this agreement is broken by the consignor, the following measures will be taken: A. Assessment of a $20.00 Early Termination Fee per item. B. Forfeit of all payments from sold items; Consignor must pick up payment of items sold within 30 days of sale or the consignor forfeits all monies owed from previous sold items, unless other arrangments have been made prior. This agreement constitutes the entire understanding of the parties signing it. It cannot be changed without written notification by Wall to Wall. This contract is governed by and shall be interpreted under the laws of the state of North Carolina.
LAYAWAY TERMS:There is a non refundable 50% deposit required (unless otherwise agreed upon) on all items put on layaway. Layaway terms are for two weeks (unless other arrangements are made) and purchaser agrees to pick up/deliver said item on of before the agreed upon date. If items are not picked up by the agreed upon date the deposit is forfeited and the items will again be placed on the sales floor for sale.
PICK UP TERMS:
All paid for merchandise left behind more than 10 days will be returned to sales floor for sale. Any money paid will be refunded less 20% restocking free. All items left 30 days or more will result in 100% forfeiture of any money paid.