The Simple Consignment Agreement is a fundamental commercial document used in Malaysian business transactions where goods are placed in the possession of a seller while ownership remains with the supplier until sale. This arrangement is particularly common in retail, luxury goods, and specialty markets where suppliers want to maintain control over their products while expanding their market reach. The agreement complies with Malaysian commercial law framework, including the Contracts Act 1950 and Sale of Goods Act 1957, and typically includes provisions for pricing, commission structures, inventory management, reporting requirements, and risk allocation. It's especially useful for businesses testing new markets or products, or when dealing with high-value items where transfer of ownership before sale isn't preferred.
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1. Parties: Identification of the Consignor and Consignee with full legal names and addresses
2. Background: Brief context of the business relationship and purpose of the consignment arrangement
3. Definitions: Clear definitions of key terms used throughout the agreement
4. Appointment and Scope: Establishes the consignment relationship and defines the scope of the arrangement
5. Delivery and Storage: Terms regarding delivery of goods and storage requirements
6. Title and Risk: Clarifies that title remains with consignor until sale, and allocation of risk
7. Pricing and Commission: Details of pricing structure and commission rates
8. Payment Terms: Terms for payment, including timing and method
9. Reporting Requirements: Requirements for inventory reports and sales reporting
10. Duration and Termination: Term of agreement and conditions for termination
11. Return of Goods: Provisions for return of unsold goods
12. Governing Law: Specifies Malaysian law as governing law
13. Execution: Signature blocks and execution details
1. Insurance: Required when specific insurance coverage needs to be maintained by either party
2. Exclusivity: Include when granting exclusive rights to sell in certain territories
3. Marketing and Display: Add when specific requirements exist for product display and marketing
4. Minimum Performance: Include when setting minimum sales targets or performance metrics
5. Confidentiality: Add when sensitive business information will be shared
6. Force Majeure: Include when specific provisions for unforeseen circumstances are needed
7. Dispute Resolution: Add when specific dispute resolution mechanisms are preferred
8. Assignment: Include when transfer rights need to be restricted or permitted
1. Schedule 1 - Consigned Goods: Detailed list of products including descriptions, quantities, and SKUs
2. Schedule 2 - Pricing Structure: Detailed pricing information and commission calculations
3. Schedule 3 - Operating Procedures: Specific procedures for handling, storage, and sales of goods
4. Schedule 4 - Reporting Templates: Templates for required inventory and sales reports
5. Schedule 5 - Territory Definition: Definition of geographical areas covered by the agreement
6. Appendix A - Storage Requirements: Specific requirements for storage conditions and handling
7. Appendix B - Quality Standards: Quality control standards and inspection procedures
Relevant legal definitions
Clauses
Relevant Industries
Retail
Fashion and Apparel
Consumer Goods
Electronics
Furniture
Luxury Goods
Art and Collectibles
Automotive Parts
Jewelry
Books and Publications
Sporting Goods
Home Decor
Relevant Teams
Legal
Commercial
Sales
Operations
Supply Chain
Finance
Procurement
Compliance
Retail Operations
Inventory Management
Business Development
Contract Administration
Relevant Roles
Commercial Director
Sales Manager
Retail Operations Manager
Supply Chain Manager
Business Development Manager
Legal Counsel
Procurement Manager
Inventory Manager
Finance Manager
Compliance Officer
Contract Administrator
Store Manager
Category Manager
Merchandise Manager
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