This Consignment Agreement (“Agreement”) is made effective as of [Date], by and between Vida Vavoom, a retail store located at 4201 Coldwater Rd, Fort Wayne, IN 46805, Store #23, and [Consignor Name], the consignor, who is the artist or maker of the items listed below. By signing this agreement, the consignor agrees to the following terms and conditions regarding the consignment of their items at Vida Vavoom.

Consignment Program Overview

I, the undersigned consignor, agree to consign my handmade or unique items to Vida Vavoom, which will sell my items on a consignment basis through its physical store located at 4201 Coldwater Rd, Fort Wayne, IN 46805, Store #23, and potentially through its online channels.

Consignment Term

I agree that the standard consignment period for my items will be 60 days from the date my items are accepted by Vida Vavoom. After this period, I will be notified about unsold items, and I agree to decide whether to:

Pick up the unsold items,
Replace unsold items with new items, or
Extend the consignment period by mutual agreement.

Profit Split

I agree to a 70/30 profit split, wherein I will receive 70% of the sale price for each item sold, and Vida Vavoom will retain 30%. Net revenue excludes taxes, shipping, and any returns or discounts applied.

Payout Schedule

I agree that Vida Vavoom will issue payouts for sold items at its discretion, typically within a reasonable time after the sale. Payments will be accompanied by a sales report, and I understand that payment timing may vary.

Item Pricing

I agree that I will work with Vida Vavoom to set retail prices for each item before it is displayed. Vida Vavoom will take into account my input, as well as its knowledge of the market, to agree on a final price. If any price adjustments or promotions are needed during the consignment period, I will be consulted and must approve any changes in advance.

Inventory Management & Display

I agree that I, as the consignor, am responsible for providing an inventory list and properly tagging my items, including any price tags. I understand that Vida Vavoom will display and promote my items as agreed, but I am solely responsible for ensuring my goods' proper labeling and inventory management.

Loss/Damage of Items

I acknowledge and agree that Vida Vavoom is not responsible for the loss, theft, or damage of my items. I understand that Vida Vavoom will take reasonable care to safeguard my items, but the responsibility for loss or damage is not held by Vida Vavoom. I will secure insurance for my items, if desired.

Removal or Replacement of Items

I understand that I may remove or replace any items during the consignment period by notifying Vida Vavoom. Any items I choose to remove will be returned to me, and if I bring in new stock, I will work with Vida Vavoom to ensure proper tracking and display of these items.

Termination of Agreement

I understand that either party may terminate this Agreement by providing written notice to the other party. Upon termination:

Vida Vavoom will return any unsold items to me.
I will receive any outstanding payments for items sold up until the termination date.

If I decide to terminate the agreement before the end of the consignment period, I will notify Vida Vavoom, and arrangements will be made for the return of my items and payment for any sales made.

This Agreement may be terminated by either party upon written notice if the other party breaches any of its obligations under this Agreement and fails to cure such breach within thirty (30) days after receiving written notice of the breach. Additionally, either party may terminate this Agreement without cause upon sixty (60) days' written notice to the other party.

Dispute Resolution

I agree that in the event of any disputes or disagreements regarding this Agreement, both parties will first attempt to resolve the matter through open communication. If a resolution cannot be reached, both parties agree to resolve the issue through mediation or binding arbitration before pursuing any legal remedies. Arbitration will take place in Fort Wayne, Indiana, and the decision of the arbitrator will be final and binding.

Insurance

I acknowledge that while Vida Vavoom will take every precaution to care for my items, I am responsible for securing insurance for my consigned items if I so wish. Vida Vavoom will not provide insurance for consigned goods.

Intellectual Property Rights

I, the consignor, retain all intellectual property rights to the items I consign to Vida Vavoom. I grant Vida Vavoom a non-exclusive, worldwide, royalty-free license to use, reproduce, distribute, and display images of my items, trademarks, or other related material for the purpose of marketing and selling the items at Vida Vavoom’s physical store and online.

Vida Vavoom’s use of my intellectual property will cease upon termination of this Agreement.

Confidentiality

Both parties agree to maintain the confidentiality of any proprietary or confidential information shared during the term of this Agreement. This confidentiality obligation shall survive the termination of this Agreement and remain in effect indefinitely.

General Terms

I acknowledge that I am the sole owner of the items I am consigning to Vida Vavoom. I agree to deliver items that are in sellable condition, free of defects, and properly labeled with any relevant product information. I understand that Vida Vavoom may adjust its consignment policies or terms as necessary, with prior notice to me.

This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements. Any amendments to this Agreement must be made in writing and signed by both parties.

Consignor Details:

Name: _______________________

Address: ___________________________

Phone Number: _____________________

Email: ________________________

Vida Vavoom Representative:

Name: _______________________

Signature: ____________________

Date: ________________________

Daily Magic: Judika Illes

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