Consignment meaning

kən-sīn'mənt
The act of consigning.
noun
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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.

noun
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Something consigned.
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A consigning or being consigned.
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Something consigned; esp., a shipment of goods sent to a dealer for sale or safekeeping.
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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.
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The bailment of goods by their owner (the consignor) to another person (the consignee) to have the consignee sell the goods on behalf of the consignor in exchange for a portion of the proceeds or to deliver them to a designated recipient. See also consignee.
noun
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A collection of goods to be sent, in transit or having been sent.
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The act of consigning.
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on consignment
  • With the provision that payment is expected only on completed sales and that unsold items may be returned to the one consigning:.
    The retailer accepted the shipment on consignment.
idiom
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on consignment
  • Shipped or turned over to a dealer for sale, with payment to the owner to follow the sale.
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Idioms and Phrasal Verbs

on consignment
on consignment