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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 unsold goods will normally ...
Consignment stock is stock legally owned by one party but held by another, meaning that the risk and rewards regarding the said stock remain with the first party while the second party is responsible for distribution or retail operations. [3] [4] The verb consign means "to send", and therefore the noun consignment means "sending goods to ...
A waybill is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of cargo. [1] Typically it will show the names of the consignor and consignee, the point of origin of the consignment, its destination, and route. Most freight forwarders and trucking companies use an in-house waybill called a ...
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A delivery order (abbreviated D/O [1]) is a document from a consignee, or an owner or his agent of freight carrier which orders the release of the transportation of cargo to another party. [2]
In the UK there are conflicting obiter dicta in "The Rafaela S" [2003] 2 Lloyd's Rep. 113 and "The Happy Ranger" [2002] 2 AER (Comm) 23, so the matter must remain unclear even though there are serious problems, for example, arising from the everyday occurrence of cargo being discharged against letters of indemnity when original bills of lading ...
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