consignment


consignment
1) A shipment or delivery of goods sent at one time.
2) Goods sent on consignment by a principal (consignor) to an agent (consignee), usually in a foreign country, for sale either at an agreed price or at the best market price. The agent, who usually works for a commission, does not normally pay for the goods until they are sold and does not own them, although usually having possession of them. The final settlement, often called a consignment account, details the cost of the goods, the expenses incurred, the agent's commission, and the proceeds of the sale.

Accounting dictionary. 2014.

Synonyms:

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  • consignment — I noun allocation, allotment, appropriation, assignation, assignment, cession, concession, consignation, conveyance, conveyancing, delivering to, dispatchment, distribution, expressage, goods shipped, interchange, merchandise sent, sending,… …   Law dictionary

  • consignment — [n1] entrusting, handing over assignment, committal, dispatch, distribution, relegation, sending shipment, transmittal; concepts 108,143,217 Ant. holding, keeping, retention consignment [n2] something entrusted to another’s care batch, delivery,… …   New thesaurus

  • consignment — [kən sīn′mənt] n. 1. a consigning or being consigned 2. something consigned; esp., a shipment of goods sent to a dealer for sale or safekeeping on consignment shipped or turned over to a dealer for sale, with payment to the owner to follow sale …   English World dictionary

  • Consignment — Con*sign ment, n. 1. The act of consigning; consignation. [1913 Webster] 2. (Com.) The act of consigning or sending property to an agent or correspondent in another place, as for care, sale, etc. [1913 Webster] 3. (Com.) That which is consigned;… …   The Collaborative International Dictionary of English

  • consignment — 1560s, sealing with a sign, from CONSIGN (Cf. consign) + MENT (Cf. ment). Meaning delivering over is from 1660s; especially of goods, for the sake of sale or auction, from c.1700. Meaning quantity of goods so assigned is recorded from 1720s …   Etymology dictionary

  • consignment — ► NOUN ▪ a batch of goods consigned …   English terms dictionary

  • Consignment — Admiralty law History …   Wikipedia

  • consignment — (1) (adj.) Goods or inventory that are held by a selling agent, wholesaler, or reseller until the goods are either sold or returned to the seller. (2) (v.) The physical transfer of goods from a seller/consignor who retains title to a consignee… …   Financial and business terms

  • consignment — con|sign|ment [kənˈsaınmənt] n 1.) a quantity of goods that are sent somewhere, especially in order to be sold consignment of ▪ a large consignment of clothes 2.) on consignment goods that are on consignment are being sold for someone else for a… …   Dictionary of contemporary English

  • consignment — /kən saɪnmənt/ noun 1. the sending of goods to someone who will sell them for you ♦ goods on consignment goods kept for another company to be sold on their behalf for a commission 2. a group of goods sent for sale ● A consignment of goods has… …   Dictionary of banking and finance

  • consignment — /keuhn suyn meuhnt/, n. 1. the act of consigning. 2. something that is consigned. 3. Com. property sent to an agent for sale, storage, or shipment. 4. on consignment, (of goods) sent to an agent for sale, with title being held by the consignor… …   Universalium