Consignment agreement

A consignment agreement is when you give someone permission to sell something for you. Let's say you have some toys that you don't play with anymore and you want to sell them. You can give them to someone, like a store owner, and they will try to sell them for you.

Here's how it works:

- You and the person you give your toys to will sign an agreement that says they will try to sell your toys for a certain amount of time.
- The person you gave your toys to will display them in their store or on their website.
- If someone decides they want to buy one of your toys, the person you gave your toys to will sell it for you.
- Once the toy is sold, the person you gave your toys to will give you some of the money they got from selling it. This is usually a percentage of the sale price that you two agreed on in the agreement.
- If after the agreed upon time your toys still haven't sold, the person you gave your toys to will give them back to you.

In simpler terms, consignment is like letting someone borrow your toys to try and sell them for you. If they sell, you get some money back, and if they don't, you get your toys back.