Search results
Results from the WOW.Com Content Network
Consignment is a process whereby a person gives permission to another party to take care of their property and retains full ownership of the property until the item is sold to the final buyer. [1] It is generally done during auctions, shipping, goods transfer, or putting something up for sale in a consignment store. [2]
Consignment agreement. A consignment agreement is an agreement between a consignee and consignor for the storage, transfer, sale or resale and use of the commodity. The consignee may take goods from the consignment stock for use or resale subject to payment to the consignor agreeably to the terms bargained in the consignment agreement. The ...
First-sale doctrine. The first-sale doctrine (also sometimes referred to as the "right of first sale" or the "first sale rule") is an American legal concept that limits the rights of an intellectual property owner to control resale of products embodying its intellectual property. The doctrine enables the distribution chain of copyrighted ...
Incoterms inform sales contracts defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer, but they do not themselves conclude a contract, determine the price payable, currency or credit terms, govern contract law or define where title to goods transfers.
Vendor-managed inventory ( VMI) is an inventory management practice in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor. Under VMI, the retailer shares their inventory data with a vendor (sometimes called supplier) such that the vendor is the decision-maker who determines the ...
CMR Convention. The CMR Convention (full title Convention on the Contract for the International Carriage of Goods by Road; in French Convention relative au contrat de transport international de marchandises par route) is a United Nations convention that was signed in Geneva on 19 May 1956. It relates to various legal issues concerning ...
Definition. Country of origin of a product can have several possible definitions. It can refer to: (a) "the place from which the merchandise was directly received; that is the last border crossed or port entered before reaching its final destination; (b) the country of consignment (i.e. from where the goods were sold); or,
Admiralty law. A bill of lading ( / ˈleɪdɪŋ /) (sometimes abbreviated as B/L or BOL) is a document issued by a carrier (or their agent) to acknowledge receipt of cargo for shipment. [1] Although the term is historically related only to carriage by sea, a bill of lading may today be used for any type of carriage of goods. [2]