consignment agreement

This is for reference only. Once you have decided to consign your garments, shoes or accessories with lolo & rex, we will then provide you an official document to sign, date and return to us. Once we receive the signed document, we will officially list your garments for sale.

CONSIGNOR AGREEMENT

The Consignor wishes to have their items offered for sale on loloandrex.com, with lolo & rex representing them under the terms and conditions of this agreement.

Items to be sold under this agreement are:

  • Full inventory intake form to be provided separately

Both parties agree to the following:

  1. The Term
  • After providing the agreed upon garments to lolo & rex, this contract will be valid for 90 days and your garments will remain in their possession either until they have sold, or at the end of the 90 days.
  • If the Consignor wishes to end the contract and pick up any item before 90 days, the Consignor must provide lolo & rex with 5 days’ notice.
  • There will be a $40 penalty fee associate with the termination of the contract before the term has ended. This fee must be paid in cash or transfer upon the pickup of the Consignor's garments.
  • Should the Consignor wish to list their garments for another 90-day term, another contract will be provided for signature one week before the expiration of the first or preceding contract. 
  • If the Consignor doesn't re-list their garments, they can choose to donate their garments, have their garments shipped back to them (at their expense) or can pick their garments up from an agreed upon pre-arranged location.
  1. Consignment Process
  • Email lolo & rex a few photos and share any relevant details to hello@loloandrex.com and a reply will be sent within 24 hours.
  • Not every piece of clothing that gets submitted for consignment will be sold. We heavily curate the collection of clothing and only accept what we know will sell. 
  • This contract will be provided for consignors signature upon confirming which garments will be sold.
  • An inventory intake form will be provided, itemizing the garments received with their individual listed prices.  
  • Upon receipt of your garments, lolo & rex will take all necessary steps to sell your items whether that is through the website or on social media channels.
  • The consignor also agrees that they will not offer the garments for sale via any other method or venue while they are in the possession of lolo & rex.
  • If the Consignor is caught selling their garments on another website or with another consignment boutique, the contract will be terminated immediately, and the Consignor will be charged a penalty fee, 40% of the list price of the garment, to lolo & rex upon discovery of the listing.
  1. Pricing, Discounts and/or Markdowns
  • Pricing will be set at the discretion of lolo & rex, however, if there is a specific price you would like to receive, please communicate that in your initial outreach email.
  • In July/August and in December/January lolo & rex will run seasonal sales and all garments, shoes and accessories are subject to promotions, discounts and reduction in original prices.
  • Promotions will also be run to further incentivize sales of garments, shoes and accessories, and we reserve the right to adjust the prices with informing the Consignor. 
  1. Authenticity
  • All luxury goods must be 100% authentic and are subject to authentication at any time during the consignment period. 
  • Consignor certifies to the authenticity of all agreed upon items and has not knowingly requested the resale of counterfeit goods.  
  • If an item is deemed counterfeit, any further business with the Consignor will be terminated indefinitely.
  • The Consigner will be charged two penalty fees upon the discovery of a counterfeit good;
    • $100 for the third-party authentication service fee
    • 60% of the list price of the garment
  1. Commission on Sale of Goods
  • Consignors will make 40% on the sale of each item sold and the remaining 60% is earned by lolo & rex.
  • Consignors have the option of turning their earnings into store credit to give them 50% instead of 40%.
  • You will NOT be notified on the sales of your garments, it is the Consignor’s responsibility to manage their account.
  1. Payment(s)
  • We reconcile sales at the end of each month. You will be paid for your sales from the previous month the second Monday of the new month. 
  • Payments to the Consignor will be issued by etransfer (EMT) or cash
  • lolo & rex will provide the Consignor with a detailed statement and accounting records pertaining to the Consignor's account should it be requested.
  • lolo & rex will maintain accurate books and documentation with respect to all transactions entered on behalf of the Consignor.
  1. Shipping your items to lolo & rex
  • The Consignor is responsible for shipping of the agreed upon garments to lolo & rex (unless otherwise pre-arranged) in excellent and clean condition (garments must be freshly laundered or dry-cleaned) otherwise they will be returned to the Consignor at Consignor’s expense.
  1. Ownership
  • Upon signing this Consignment Agreement, the Consignor will provide all garments to lolo & rex, where the garments will remain in their possession until they have sold or, will be provided back to the Consignor at the end of the 90-day term or if the Consignor wishes to end the contract before the term (for a $40 fee).
  1. Agreement
  • Both parties have read and understand all statements included in this agreement. This agreement may not be revised or amended without the written consent of lolo & rex.