THE SEQUEL SHOP is engaged in the marketing and sale of clothing, accessories, furniture and home goods.
Consignor owns or controls and has the right to sell certain items, described and itemized on THE SEQUEL SHOP’s online and other forms, or collected from Consignor (the "Consignor") by an employee of THE SEQUEL SHOP as part of its consignor service (collectively, the "Property"). Consignor wishes to sell that Property.
Consignor desires that the Property be sold on consignment by THE SEQUEL SHOP, and THE SEQUEL SHOP wishes to sell that Property on behalf of Consignor. This means that Consignor transfers possession but not ownership of the Property to THE SEQUEL SHOP, subject to these Consignment Terms (the "Agreement").
Therefore, in consideration of the mutual premises and covenants contained in this Agreement, the receipt and sufficiency of which is acknowledged, and expressly subject to the provisions of THE SEQUEL SHOP’s Terms of Service (see THE SEQUEL SHOP’s website at thesequelshop.com), which terms may be amended from time to time at THE SEQUEL SHOP’s sole discretion), the parties agree as follows:
Consignor makes the Property available to THE SEQUEL SHOP on a consignment basis and THE SEQUEL SHOP accepts the Property from Consignor on a consignment basis only. Property is left at the Consignor’s risk. While extreme care is taken with all merchandise, THE SEQUEL SHOP assumes no responsible for loss or damage to Property for any reason including fire, theft, damage, pricing error or any other cause.
THE SEQUEL SHOP only accepts Property it determines in its sole discretion to be in very good to excellent condition; it determines in its sole discretion to be authentic; and that is made available to THE SEQUEL SHOP in full compliance with the representations and warranties Consignor makes pursuant to this Agreement ("Acceptance").
Upon receipt, THE SEQUEL SHOP will evaluate the Property to determine its authenticity, quality and value. The condition of such items will affect their valuation. Property that does not meet THE SEQUEL SHOP’s quality standards will not be Accepted and will be returned to Consignor (see "Unauthenticated Items" and "Consignment Period and Return of Property" below), or donated to an entity of THE SEQUEL SHOP’s choice, or returned to consignor if a printed, completed RETURN MY ITEMS form was submitted with the consignment.
Consignor is responsible for ensuring the authenticity of all items offered for consignment. In the event THE SEQUEL SHOP cannot determine the authenticity of any item of Property offered or provided for consignment, it shall have the right in its sole discretion to refuse to accept the item. In the event that THE SEQUEL SHOP determines at any time that an item of Property is counterfeit, THE SEQUEL SHOP will notify Consignor that it has made such determination. Consignor acknowledges and agrees that any item THE SEQUEL SHOP determines to be counterfeit will not be returned to Consignor and will be destroyed.
Consignment Period for an item of Property begins on the Effective Date and ends 90 days thereafter, whether or not such Consignment Period extends beyond the term of this Agreement. Consignor may request THE SEQUEL SHOP return all or some of the Property if it is not sold within the 90 day period. Request must be made in writing at the time Property is initially dropped off using a printed, fully completed RETURN MY ITEMS form.
Subject to Consignor's performance of its obligations under this Agreement, THE SEQUEL SHOP will display on its site and make commercially reasonable efforts to sell the Property. Consignor acknowledges and agrees that:
(a) THE SEQUEL SHOP in its sole discretion will determine the initial selling price for the Property (the "Initial Sale Price"), based on its evaluation of the Property together with its determination of the current market price for each specific item of Property.
Consignors may choose to select their starting prices for their items. Otherwise, each item will be researched by THE SEQUEL SHOP and competitively priced to sell quickly.
(b) THE SEQUEL SHOP may offer price reductions or discounts during the Consignment Period, at its sole discretion and without notice to Consignor. Items not selling within 90 days will be removed from Consignor’s inventory and either donated to an entity of THE SEQUEL SHOP’s choice, or returned to Consignor if a printed, completed RETURN MY ITEMS form was provided with the consignment. No items will be returned without fully completed proper documentation as stated above.
A "Property Sale" shall be deemed to have occurred where an item of Property is sold by THE SEQUEL SHOP. Title to and ownership of the Property will remain with Consignor until a Property Sale occurs or items expire at 90 days without a printed, completed RETURN MY ITEMS form on file.
Upon a Property Sale, the net selling price upon which all Commissions are based shall equal the price of the item of Property sold, less applicable discounts, excluding taxes and shipping (the "Net Selling Price").
Consignor acknowledges and agrees it will receive the following Commission (as defined below, the "Commission") based on the Net Selling Price of an item of Property:
- Effective October 1, 2021, commission in an amount equal to 50% of the Net Selling Price
THE SEQUEL SHOP may at any time and in its sole discretion temporarily increase the Commission from time to time for promotional reasons. The Commission shall be Consignor's sole compensation under this Agreement.
The timing of processing Commission payments will typically be completed the 15th of the following calendar month after the 90-day Consignment Period. In the event of any dispute between the Parties, Commissions will not be paid until such dispute is resolved.
Any final value fees incurred from 3rd party website sales (i.e., Amazon, Ebay, Google) are split between consignor and THE SEQUEL SHOP.
Term: This Agreement will commence as of the Effective Date and will continue until the completion of the Services, or 90 days after initial receipt of Property.
Termination: Either Party may terminate this Agreement at any time, for any reason. Termination shall be effective when either Party serves written notice thereof on the other Party.
Consignor may not assign, transfer, or delegate any of its rights under this Agreement without THE SEQUEL SHOP’s prior written consent. Any prohibited assignment shall be void.
THE SEQUEL SHOP does not make any representation or warranty, expressed or implied about any item of Property, except to the extent a warranty is required by law and cannot be disclaimed. In no event shall THE SEQUEL SHOP’s liability exceed the actual amount received for selling consignor’s Property.
Consignor hereby represents and warrants that it has good and marketable title to each item of Property and has the right to consign and sell the Property, none of which is subject to any liens or other encumbrances, and further represents and warrants that the Property does not infringe upon or violate any trademark, copyright, or other proprietary right of any third party, any state or federal law, or any administrative regulation. Consignor hereby agrees to indemnify and hold THE SEQUEL SHOP harmless from all damages, suits, litigation, awards, and costs, including but not limited to attorneys' fees and costs, as a result of or arising out of in any way THE SEQUEL SHOP display or sale of the Property for any reason whatsoever, including but not limited to civil or criminal suits over authenticity, legality, ownership, infringement of copyright or trademark, or any other claim or litigation.
This Agreement, including all exhibits, schedules, attachments and appendices attached to this Agreement and thereto, and all matters arising out of or relating to this Agreement, are governed by, and construed in accordance with, the laws of the State of Minnesota, without regard to the conflict of laws provisions. Each Party irrevocably submits to the exclusive personal jurisdiction of the federal and state courts located in Hennepin County, Minnesota as applicable, for any matter arising out of or relating to this Agreement, except that in actions seeking to enforce any order or any judgment of such federal or state courts located in Hennepin County, Minnesota such personal jurisdiction shall be nonexclusive. Additionally, notwithstanding anything in the foregoing to the contrary, a claim for equitable relief arising out of or related to this Agreement may be brought in any court of competent jurisdiction.
This Agreement, including and together with any related exhibits, schedules, attachments and appendices, constitutes the sole and entire agreement of the Parties with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, regarding such subject matter.
No waiver by any party of any of the provisions of this Agreement will be effective unless explicitly set forth in writing and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.
If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon a determination that any term or provision is invalid, illegal or unenforceable, the court may modify this Agreement to effect the original intent of the Parties as closely as possible in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.