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Consignment Sales Agreement--------------------- OWNER, referred to as OWNER, and --------------------- CONSIGNOR, referred to a CONSIGNOR agree: OWNER consigns to CONSIGNOR the following described vehicle: MAKE: MODEL: BODY TYPE: YEAR: VEHICLE IDENTIFICATION NUMBER: The title to the same shall remain at all times until a bona-fide sale in the owner of the consigned goods. OWNER may recall and take possession of the consigned property at any time. At all times CONSIGNOR has goods owned by OWNER in its possession, CONSIGNOR shall, and at its expense, maintain multi-peril inventory insurance in an amount equal to the value of the goods with OWNER named as a loss payee on a long form loss payable clause. Should CONSIGNOR fail to maintain such coverage, OWNER may obtain the same, and CONSIGNOR shall upon presentation of an invoice therefor, pay for the same on sight. The minimum sales price for the vehicle shall be $------- (& no/100 dollars.) From the net sales price, CONSIGNMENT merchant shall be allowed a flat fee of $ 25.00 ( twenty five & no/100 Dollars) The proceeds of the sale of the goods of owner shall be deposited in a special escrow account and shall not be commingled with the funds of CONSIGNOR, or the funds of others. The funds received shall be deemed to be trust funds and shall be deemed to be held in trust and for the sole benefit of OWNER. CONSIGNOR is authorized, provided that all accountings are timely filed and all sales proceeds have been deposited to withdraw its commission from the account. However, should any instruments accepted by CONSIGNOR not... (Excerpt)
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