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CONSIGNMENT AGREEMENT
I. REVENUE SPLITS
The following are the revenue splits (“Revenue Splits”) for any items consigned to GENERATIONS: Clothing, Shoes, Handbags, Accessories, and Jewelry: Consignor receives 50% of the selling price for items that sell for $500 and below, 60% for items that sell between $501 and $1500, and 70% for items that sell for $1501 and above. All Home Decor: Consignor receives 50% regardless of sale price. The aforementioned Revenue Splits are subject to adjustment, from time to time, as determined by GENERATIONS’ sole and absolute discretion.
II. ITEMS ACCEPTED FOR CONSIGNMENT
GENERATIONS sells designer, vintage, and couture women’s and men's clothing, and accessories, as well as decorative and unique decor. All merchandise must be gently used or new. Clothing must be cleaned and on hangers. We reserve the right to accept or not accept brands or items in our sole and absolute discretion. Consignment appointments must be scheduled for in-store drop-off, or a private home pick-up.
III. CONSIGNMENT TERMS & PROCESS
A $3.50 monthly administrative fee is charged for inventory processing, pricing, ticketing, merchandising, photographing, posting, and check processing. The Administrative Fee is deducted monthly and will be reflected in your sales update. Upon receipt of consigned merchandise, inventory processing requires seven to ten business days. Consigned merchandise is reduced by 20% after the first 30 days and 40% after 60 days. Consignor agrees that the Consignee may, at any time during the consignment period, reduce the listed price of any consigned item to 50% off, or any other agreed-upon discount percentage, without prior notice to the Consignor. THE CONSIGNMENT PERIOD IS 90 DAYS AND SHALL BEGIN WHEN YOUR ITEMS ARE PLACED ON THE SALES FLOOR. IF YOU HAVE ITEMS THAT REMAIN UNSOLD AFTER 90 DAYS, IT’S YOUR RESPONSIBILITY TO CONTACT US TO ARRANGE THEIR RETURN TO YOU (ALL RETURN SHIPPING IS AT YOUR COST OF $25 PER BOX). AT THE END OF YOUR 90 DAY CONTRACT, IF WE DO NOT HEAR FROM YOU, (WE WILL ALLOW A 7 DAY GRACE PERIOD) YOUR UNSOLD ITEMS BECOME THE PROPERTY OF GENERATIONS.
IV. CONSIGNOR REPRESENTATIONS, WARRANTIES & INDEMNIFICATION
The consignor hereby warrants to GENERATIONS that it has good and marketable title to the products consigned, none of which are subject to any liens or other encumbrances and further warrants to GENERATIONS that the products consigned are not in violation of any trademark, copyright, or other proprietary right of any third party, state or federal law, or administrative regulation. The Consignor hereby agrees to indemnify and hold harmless and defend (with counsel selected by GENERATIONS) GENERATIONS from all claims, losses, damages, suits, litigation, awards and costs,
including but not limited to attorney’s fees that may arise out of the display or sale of the products for any reason whatsoever, including but not limited to civil or criminal suits over authenticity, legality, ownership, infringement of copyright or trademark or any other claim or litigation.
V. AUTHENTICATION
GENERATIONS prides itself on only selling 100% authentic designer items. We reserve the right to work with professional authenticators for your items at our discretion. Should an item be deemed inauthentic, or the authenticity cannot be conclusively determined, consignors will be charged a $25 fee (per inauthentic item) on the next scheduled payment to cover the authentication expense incurred. GENERATIONS conducts
reasonable due diligence, including visual inspection and potentially using authentication services, but ultimately, authenticity is the responsibility of the consignor. While we make every effort to ensure the authenticity of items, we cannot guarantee their authenticity.
VI. CREDIT PAYMENT PROCESS
Consignors may be eligible to receive payment in the form of store credit to be used exclusively at GENERATIONS in Bala Cynwyd, Pa. At any
time, the Consignor may elect to have their remaining credit balance converted to cash by contacting Generations. Only the unused portion of the consignor payment earned can be converted into cash. Any unused portion of the credit will be forfeited. Upon consigning and reselling goods or products through GENERATIONS, you will be deemed to have agreed to the terms of this consignment agreement (“Agreement”) which are binding upon you (“Consignor”) and GENERATIONS.
VI. LAYAWAY
Consignors acknowledge and agree that consigned items may be placed on layaway for up to 60 days at any time during the consignor’s 90-day consignment term; once the layaway is paid in full and the item is picked up by the customer, the consignor will be paid when checks are processed at the beginning of the month following the pickup date. If a layaway is not completed, the item may be returned to the sales floor for an additional 90-day consignment term upon the consignor’s written or verbal approval.
VII ENTIRE AGREEMENT
This Agreement (as may be modified from time to time by GENERATIONS in its sole and absolute discretion), including all attachments, constitutes the entire agreement among the parties to this transaction and replaces all prior agreements, communications, and representations. No agreements, communications or representations made by any party to this Agreement that is not expressly stated in this Agreement are legally binding.
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IX. NO IMPLIED WAIVER
Either party’s failure to insist, in any one or more instances on strict performance by the other party of any of the terms to this Agreement shall not be construed as a waiver of any continuing or subsequent failure to perform or delay in performance of any term hereof.
X. SEVERABILITY
If one or more of the provisions of this Agreement shall be declared or held to be invalid, illegal, or unenforceable in any respect in any jurisdiction, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby and any such declaration or holding shall not invalidate or render unenforceable such provision in any other jurisdiction.
XI. COUNTERPARTS/ELECTRONIC SIGNATURE
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument. For purposes of this Agreement, use of email or other electronic medium shall have the same force and effect as an original signature.
XII. AMENDMENTS
GENERATIONS reserves the right in its sole and absolute discretion to modify the terms of this Agreement from time to time. GENERATIONS will use reasonable efforts to notify you if the terms of this Agreement have changed. All items received after the date of such modification will be subject to the new terms. If you do not agree to any revised terms, your sole recourse is to terminate this Agreement. To the extent that you do not terminate this Agreement following a modification of the terms by GENERATIONS, you will be deemed to have accepted all such modifications to this Agreement.
XIII. DISCLAIMER OF WARRANTIES; LIMITATION OF LIABILITY
YOU EXPRESSLY UNDERSTAND AND AGREE THAT: YOUR USE OF GENERATIONS PRODUCTS AND SERVICES IS AT YOUR SOLE RISK. GENERATIONS CONSIGNMENT AND OTHER SERVICES ARE PROVIDED ON AN "AS IS,” “WITH ALL FAULTS” AND "AS AVAILABLE" BASIS. GENERATITO EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. GENERATIONS MAKES NO WARRANTY THAT GENERATIONS SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE. GENERATIONS AND ITS SUBSIDIARIES, AFFILIATES, OFFICERS, EMPLOYEES, AGENTS, PARTNERS, AND LICENSORS SHALL NOT BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES OR FOR DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR FOR OTHER INTANGIBLE LOSSES (EVEN IF GENERATIONS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES) RESULTING FROM: (A) THE USE OR THE INABILITY TO USE GENERATIONS SERVICES OR WEBSITE; (B) UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; (C) THE ACTIVITIES CONTEMPLATED BY THIS AGREEMENT PROPERTY; OR (D) ANY OTHER MATTER RELATING TO GENERATIONS SERVICES OR THIS AGREEMENT. IN NO EVENT WILL GENERATIONS’ LIABILITY UNDER THIS AGREEMENT EXCEED THE AMOUNT IT HAS ACTUALLY RECEIVED AS A RESULT OF SELLING YOUR PROPERTY HEREUNDER. THE FOREGOING DISCLAIMERS AND LIMITATIONS ARE A FUNDAMENTAL PART OF THE BASIS OF GENERATIONS’ BUSINESS, AND GENERATIONS WOULD NOT ENTER INTO THIS AGREEMENT WITHOUT SUCH DISCLAIMERS AND LIMITATIONS.
XIV. CHOICE OF LAW
This agreement shall be construed and governed by the laws of the State of Pennsylvania. Furthermore, you and GENERATIONS hereby agree to submit to the personal jurisdiction of the courts of Montgomery County, Pennsylvania.
XVI. ITEMS WE ARE UNABLE TO CONSIGN AND RETURNS
After your 90 day consignment term and the 7-day grace period end there are NO RETURNS. Pickup will extend to 7 days after the consignment contract expires. Shipping return items is $25/box. All expired consigned items become the property of Generations.
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