An Equipment Consignment Agreement is essential when businesses want to place equipment with third parties while maintaining ownership rights. This arrangement, governed by English and Welsh law, allows equipment owners to expand their market reach while controlling their assets. The agreement typically includes provisions for equipment handling, maintenance responsibilities, commission structures, sales terms, and risk allocation. It's particularly useful in situations where direct sales might be impractical or when testing new markets without transferring ownership.
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1. Parties: Identification and details of the consignor and consignee
2. Background: Context of the agreement and business relationship
3. Definitions: Key terms used throughout the agreement
4. Equipment Description: Detailed description of consigned equipment
5. Consignment Terms: Core terms including duration, pricing, and commission structure
6. Title and Risk: Ownership rights and risk allocation
7. Obligations of Parties: Respective responsibilities of consignor and consignee
8. Term and Termination: Duration and termination provisions
1. Insurance: Insurance requirements for high-value equipment or high-risk scenarios
2. Maintenance and Repair: Equipment maintenance responsibilities when regular maintenance is required
3. Territory Restrictions: Geographical limitations on equipment use/sale when territorial restrictions apply
4. Marketing and Promotion: Terms for marketing the equipment when consignee has marketing responsibilities
1. Equipment Schedule: Detailed list and specifications of consigned equipment
2. Pricing Schedule: Commission rates and pricing structure
3. Service Level Agreement: Performance standards and metrics
4. Maintenance Schedule: Required maintenance procedures and timeframes
5. Return Procedures: Processes for equipment return or replacement
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