Sold Outright Consignment Agreement Sample
Auction, Direct Selling, Marketing, Consulting, Appraisal, Management
Note: Due to the variety of services provided by Sold Outright/Brent Reid Enterprises Ltd. 1983, all agreements will be specific to the nature of the service to be provided and written to identfy the service and address the needs of each client. Fees, Commissions, Buyer Premiums, Specific Terms & Services and Timelines are determined, modified and mutually agreed by all parties within each agreement.
This Consignment, Consulting and General Services Agreement made in duplicate In _________________________this _____ day of _________20___
Between: Brent Reid Enterprises Ltd (hereinafter called “BREL”) located in Elkhorn, Manitoba, Canada Post Box 358 R0M 0N0 Contact 204 740 0439
And: ___________________________________________________________________________________________(hereinafter called the “Client”)
Resident of _________________________________________Province/State/Country___________________________________________________
The Client has requested BREL to perform consulting, marketing, management or auction services as set out below in items 1 through 11 and BREL has agreed to perform such services, subject to the following terms and conditions:
1. BREL agrees to provide services on behalf of the owner(s) needs as described and may include any and all services described above in the Sale by Auction or Direct Sale of Real & Personal Property
Serial Number, Addresses or Product Identification:_________________________________________________________________________________
2. The Client warrants to BREL that it is the owner of the property to be sold and has the authority to sell same, and that the property is free of all encumbrances, liens and municipal taxes, except for: __________________________________________________________________________________________________________________________
3. Term, Commencement and Completion:
Immediate Commencement! This agreement is to be completed in approximately twelve (12) weeks from signing this document, property being sold or not.
Continuation or Renewal of Terms would be considered in the event of a non sale and resigning of this or subsequent agreement or addendum thereof.
4. To treat confidentially all information concerning the affairs of the client except where the nature of the services requires BREL to disclose such information, in which case the client hereby consents to such disclosure, or unless required by law.
5. The Client Agrees to pay BREL deposits, ongoing fees, commissions and costs in the manner shown or in the attached proposal schedule for each undertaking.
Direct fees may be required, payable in advance plus applicable taxes for direct marketing costs, additional internet exposure, advertising, signage, media advertising are due from the client plus costs of any special option relating directly to the property as needed to offset client "reserve" pricing requests.
Selling Options: "auction" means public auction; live auction, on-line auction
"buy now" means a price stated for immediate purchase on an agreed price by the consignor
"make an offer" means the potential buyer can make an offer, accepted subject to approval or pre approved consent
A pre-determined published Buyer Premium (payable to Sold Outright) of the winning bid, offer or buy now purchase will be added to the winning bid along with applicable taxes and any other costs (packaging, shipping, insuring) to create the final selling price.
6. The Client agrees to waive all claims against BREL and the auctioneer(s), marketing team and consultant(s) for any loss or damage arising from, relating to or in connection with this agreement including non-sale. The Client understands and agrees that if the property is sold without reserve bid that it sells at the highest bid which may be less than what the client expects. The client may request an opening bid to be published, however, fees would then be treated as if the property had a "reserve" bid or firm buy-now offer.
7. BREL and the client agree that BREL, Auctioneer(s) and marketing consultant(s) may make whatever contacts as BREL considers necessary in the circumstances and may/will act as the client’s agent to do so to facilitate the provision of services.
8. BREL and the client agree that any and all services to be provided by BREL acting as the Auctioneer(s), Marketer(s), Direct Seller(s) and Consultant activity shall be to the benefit of the client and acting on behalf of the client.
9. BREL shall have absolute discretion in determining whether the Goods are suitable for sale and the method of sale.
10. BREL shall have absolute discretion in the dates of opening and closing of the selling process, refusal of any bid, descriptions of the Goods, and any other matters relating to the marketing, sale and shipping requirements. BREL, as Agent for the Consignor is and shall not be responsible for any default by the Consignor or the Buyer.
11. Either party may terminate the agreement prior to the completion of the services upon written notice to the other. In the event of such early termination, the Client shall forthwith pay to BREL such fees as may be established by BREL acting reasonably, for the services and costs rendered to the date of receipt of such notice.
12. The Consignor will deliver or make available, at the Consignors expense, the Goods to a location and address determined by BREL in a cleaned presentable condition at a suitable agreed time prior to the auction. The Consignor may not withdraw the goods without the consent of BREL. In such an event and consent is given all associated costs shall be paid in advance of the withdrawal plus 15% of the of the expected sale value or the reserve place by the consignor whichever is the greater.
13. BREL, with the consent of the Consignor and "at a cost" to the Consignor, may refurbish, clean and package the goods bringing them into presentable condition for sale, and/or, in addition, retain the services of a specialist in regard to the item for authentication and certification. All costs would be the responsibility of the Consignor.
14. BREL is allowed to sell items with an established reserve on the condition and agreement by the consignor the proceeds paid to the consignor is not less than the agreed reserve amount less the consignor's commission payable.
15. The Consignor guarantees to BREL their right to sell the property and confirms good title.
16. The Consignor authorizes BREL to deduct all costs, expenses, commissions and fees from the winning bid, offer or outright purchase.
17. The Consignor warrants that the Consignor will not bid for themselves at the auction, on-line, nor employ any person to bid on their Goods, The Consignor acknowledges that Sold Outright acts in good faith as a duel agent when, as an example, accepts and executes absentee bids of facilitating on-line, text, email or telephone bids from potential buyers.
18. In the event the purchaser fails to pay BREL acting as an Agent for the Consignor, the purchase price and associated fees within 10 days, the consignor agrees to allow BREL seek means to collect. All collection activity would be at the cost of the consignor and authorizes BREL to proceed with collection activity.
19. This agreement constitutes the entire understanding between the parties and nothing else is either implied or promised.
20. This agreement shall endure to the benefit of and be binding upon the parties hereto and their respective heirs, executers, administrators and successors.
21. The Consignor will be willing to sign this or subsequent document as a Statuatory Declaration in regard to ownership, declaring entitlement to possession, being the agent of the owner, or agent of the lien holder entitled to possession and in all regards being entitled to and of possession.
22. The basic content of this agreement is subject to change from time to time without notice or may be modified for any particular or unusual consignment consensus.
23. The completion and signed Consignment, Consulting and General Services Agreement comprises the entirety of the contract for services between Sold Outright (Brent Reid Enterprises Ltd) "BREL" and the Consignor and BREL shall not be held liable in respect of any representation not made in writing herein.
24. This Agreement shall be governed by the laws in force in Manitoba, whose Courts shall have sole juristiction to adjudicate claims made in respect of this Agreement.
Signed at ________________________________, Manitoba Date:_________________________________
For Brent Reid Enterprises Ltd