- The definition of consignment refers to a batch of goods delivered, to the act of delivering goods or to an agreement to pay a supplier after goods or items have been sold.
When you give someone an item to sell and you agree to get paid only after the item has been sold, this is an example of a time when you sell the item on consignment.
consignment definition by Webster's New World
- a consigning or being consigned
- something consigned; esp., a shipment of goods sent to a dealer for sale or safekeeping
consignment definition by American Heritage Dictionary
- The act of consigning.
- Something consigned.
consignment - Business Definition
- One or more pieces tendered by a shipper at one time from a single address to be shipped to one consignee at a single destination.
- Placing goods with another party without surrendering ownership rights. For example, a distributor ships products to a retailer but does not surrender ownership or get paid until the retailer sells the products to its customers. Consignment reduces risk and increases profitability of a retailer by requiring the manufacturer or distributor to finance the retailer's inventory.
consignment - Investment & Finance Definition
An agreement by a retailer to sell merchandise owned by another person or corporation (the consignor). No payment is made to the consignor until the merchandise is actually sold. Unsold items are returned to the consignor.Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana. Used by arrangement with John Wiley & Sons, Inc.
consignment - Legal Definition
consignment - Phrases/Idioms