Consignment Contract
The Extra Mile Outdoor Gear and Bike
Consignment Contract
The Extra Mile Outdoor Gear and Bike Consignment Contract (v2 5-26)
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Consignment Payout Tiers |
Payout Tiers for bikes |
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|---|---|---|---|
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Selling price |
Payout |
Selling price |
Payout |
|
Less than $50 |
40% |
Under $300 |
40% |
|
$50 to $199.99 |
50% |
$301 to $499.99 |
50% |
|
$200 to $499.99 |
60% |
$500 to $999 |
60% |
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Greater than $500 |
70% |
$1000-1999 |
70% |
|
Greater than $2k |
80% |
||
|
10% more store credit value |
10% more store credit value |
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1. CONSIGNMENTS: The Consignor has provided the goods described to Extra Mile Outdoor Gear LLC for sale on a consignment basis under the terms and conditions of this agreement. The Consignor acknowledges that they have the legal right to consign/ sell the property provided. Extra Mile Outdoor Gear LLC reserves the right to refuse items for consignment for any reason.
2. CONSIGNMENT RATES (for non-bikes): Consignment rates are based on the final sale value of each item. Proceeds are split based on the consignment payout table. Consignors get an additional 10% in payout value if consignment funds are used for in-store purchases.
2b. See item 10 below for online sales fees
2a. CONSIGNMENT RATE FOR BIKES: Consignment rates are based on the final sale value of each bike. Proceeds are split based on the consignment bike payout table. The Extra Mile will perform cleaning and tuning on each consigned bike. Consignor will be responsible for payment of any parts used in tuning process. Any consigned bikes that are picked up before selling will incur a discounted $50 tuning fee less any parts.
3. CONSIGNMENT PERIOD: The consignment period is 90 to 150 days. At the sole discretion of The Extra Mile, consignors may request a 90-day consignment extension for unsold items valued at $100 or more.
4. UNSOLD ITEMS: The consignor must pick up unsold items at the end of the 150-day consignment period. Unsold items not picked by the end of the consignment period will become the property of The Extra Mile.
5. PAYMENT: Consignors must request a payout in-store or via email. Checks can be picked up at The Extra Mile given 24- hour notice or any time a manager is on duty. Consignors may request a check be sent by mail or payout be made via PayPal or direct deposit. It is the responsibility of the consignor to provide a current mailing and email address to which payment is sent.
6. UNCLAIMED FUNDS: Consignment accounts with no activity (no active items, sales, or purchases) for 180 days will be considered inactive. Unclaimed consignment funds associated with inactive consignment accounts will convert to store credit following 180 days of inactivity. Store credit funds expire after a year of account inactivity. It is the consignor’s sole responsibility to monitor the status of their consignment account. The Extra Mile will not notify consignors regarding account status or unclaimed funds. Check account status at extramilegear.consignoraccess.com
7. NOTIFICATIONS: The Extra Mile will not notify consignors when consignment items have sold or when unsold items have reached the end of the consignment period. It is the responsibility of the consignor to monitor their account at extramilegear.consignoraccess.com.
8. PRICING: The Extra Mile will set an initial sale price based on condition, demand, sales history, and original retail price. The Extra Mile has the right to reduce the price of consignment items at any time. Items will be marked down on a monthly or seasonal basis until sold.
9. CLEANING/ REPAIR: The Extra Mile only accepts consignments that are clean, functional, and contain all parts necessary for operation. Clothing and sleeping bags must be washed or dry cleaned prior to consignment. The Extra Mile (CONTINUED)
reserves the right to charge a cleaning or a repair fee for any items put on consignment.
10. ADDITIONAL FEES: A credit card processing fee of 3% is deducted from the gross sale price prior to consignor payout. Active consignor accounts are charged a $1 a month consignor access and administrative fee. ONLINE SALES: Online sales are subject to an additional 10-15% fee based on the selling platforms associated selling fees and credit card fees, i.e. ebay.
11. THEFT or DAMAGE: The Extra Mile is not responsible for lost, stolen, or damaged consignment items. I ACKNOWLEDGE THAT I HAVE READ THIS DOCUMENT AND AGREE TO THE TERMS AS STATED IN THE CONTACT.