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Vehicle Consignment Agreement
Vehicle Consignment Agreement
CONSIGNEE: TRACKSPEC AUTOSPORTS
Trackspec Autosports Inc 7100 Stevenson Blvd, Fremont, CA 94538 510-403-1161
CONSIGNOR
Name
*
Name
First Name
Last Name
Address
*
Address
Address 1
Address 2
City
State/Province
Zip/Postal Code
Country
Phone
*
Phone
(###)
###
####
Email Address
*
Driver's License & State
Insurance Company Name
*
Insurance Company Policy #
*
Insurance Company Phone
*
Insurance Company Phone
(###)
###
####
CONSIGNMENT AGREEMENT
This Consignment Agreement (the "Agreement") is a legal agreement between the individual or company set forth on the consignment form ("Consignor") and Trackspec Autosports ("Consignee"). This Agreement specifies the terms under which Consignor may provide Vehicle to Consignee on a consignment basis, for sale by Consignee on behalf of Consignor. The person executing this Agreement on behalf of Consignor represents that he or she is an authorized representative of Consignor capable of binding Consignor to this Agreement. NOW, THEREFORE, in consideration of the foregoing promises, the mutual covenants contained herein and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:
VEHICLE INFORMATION
Consignor consigns and delivers possession of the following vehicle to Consignee:
Year, Make, Model
*
VIN #
*
License Plate & State
Mileage
Title
*
Clean
Title with Lien
Other, explain below:
SALE
Consignee accepts possession of Consignor's Vehicle for consignment and will attempt to sell the vehicle at a price no less than:
*
$
Preferred Receipt of Sale Proceeds
*
How would you like to receive the proceeds from the sale?
Business Check
Cashier's Check
Wire Transfer
PayPal
Consignor shall have the final approval of any proposed sale of this vehicle.
*
By typing your initials below, you acknowledge and agree to the above terms.
All monies received by Consignee shall be the property of the Consignor. Consignee shall be able to collect deposits from buyers toward the purchase of the vehicle. Consignee agrees to pay to the Consignor all proceeds received within 20 days after the date of sale. Consignor agrees that the Consignee deduct a commission in the amount of 5% (five percent) of the final selling price immediately upon sale of the vehicle.
*
By typing your initials below, you acknowledge and agree to the above terms.
If a buyer chooses to use a credit card to purchase the vehicle, there will be an additional 3% deducted from the selling price.
*
By typing your initials below, you acknowledge and agree to the above terms.
In this agreement, a “sale” occurs when Consignee: (A) receives the purchase price of its equivalent, or (B) when the purchaser takes delivery of the vehicle, whichever comes first. Within 20 days after the sale, Consignee shall make an accounting to Consignor of all of the following: date of sale, repairs authorized by Consignor (supported by work records), and the total sales price. Upon payment to the monies due Consignor, the Consignor agrees to furnish all documents necessary to transfer the ownership of the vehicle to the purchaser including clear title documentation.
*
By typing your initials below, you acknowledge and agree to the above terms.
Consignor will take photos of the vehicle, list the vehicle on Consignee's website, use reasonable efforts in marketing and selling the vehicle.
*
By typing your initials below, you acknowledge and agree to the above terms.
CONDITION OF VEHICLE
Has this vehicle ever been in a major accident?
*
Yes
No
Has this vehicle ever been in a flood?
*
Yes
No
Has this vehicle ever been on a Salvage Title?
*
Yes
No
If you've answered yes to any of the above questions, please provide details:
Please list any special instructions regarding this vehicle I.E. starting procedure, driving issues or anything that needs to be explained upon driving or moving this vehicle (includes test drives).
Please list any known defects, flaws or damage this car has now. Also list any maintenance this vehicle may need.
Please list any information that will enable potential buyers to make a well informed decision on your vehicle I.E. Restoration done, work performed, modifications made, vehicle history, receipts, how long you have owned this vehicle, why selling (opt) etc.
This info will also be used in advertising and promoting your vehicle.
Consignor must have good title to vehicle and provide sufficient evidence of such. Consignee must be able to show that the title is free and clear from all claims and liens. Consignor represents and warrants to Consignee that a) Consignor owns the vehicle, b) Consignor has full right and authority to enter into this Agreement and to sell the vehicle, c) any information Consignor shares with Consignee will be true and accurate to the best of Consignor's knowledge.
*
By typing your initials below, you acknowledge and agree to the above terms.
If Consignee finds a buyer for Vehicle and Consignor circumvents Consignee in an attempt to avoid payment of the commission to Consignee, by selling to the buyer developed by Consignee, this will be treated as a sale and the above commission will be due and payable to the Consignee. A sale by the Consignor or any person or firm other than the Consignee, during the duration of the contract, with or without assistance of the Consignee will also be treated as a sale and the above commission will be due and payable.
*
By typing your initials below, you acknowledge and agree to the above terms.
The maintenance and repair of the vehicle shall be at the sole expense of the Consignor. If mechanical or maintenance work becomes necessary while the vehicle is on the Consignee’s premises, Consignee will seek permission from Consignor to complete the necessary repairs.
*
By typing your initials below, you acknowledge and agree to the above terms.
Consignor is required to have and is solely responsible for ALL insurance coverage while vehicle is in the possession of Consignee and shall hold Consignee harmless from any and all circumstances that may arise while vehicle is in Consignee’s possession, no matter who may be at fault. Consignor must provide proof and copy of such insurance to Consignee.
*
By typing your initials below, you acknowledge and agree to the above terms.
If a person requests information on the Consignor of the vehicle or their consignment history for law enforcement, public trust interests, government, or business purposes, Consignee may provide it without Consignee's written consent.
*
By typing your initials below, you acknowledge and agree to the above terms.
DELIVERY, STORAGE, & FEES
By delivering this vehicle to Trackspec Autosports (Consignee) you are placing it on consignment with Consignee and is not a sale of vehicle to Consignee. Consignor hereby tenders $100.00, which represents a non-refundable first month's fee for advertising, clean-up, handling, and storage. Consignor also agrees to pay $50.00 at the beginning of each month for each additional month of storage thereafter. A credit card must be provided to Consignee and the fees will be automatically deducted accordingly.
*
By typing your initials below, you acknowledge and agree to the above terms.
If Vehicle remains unsold or if Vehicle has been sold but not removed from Consignee’s premises or if the Consignor or buyer is delinquent in paying storage fees, Consignee may have the vehicle towed and stored elsewhere at Consignor or buyer’s expense without prior notice to the Consignor or buyer. Additionally, Consignee may, at any time, request that the vehicle be removed from Consignee’s premises upon 48 hour notice to Consignor.
*
By typing your initials below, you acknowledge and agree to the above terms.
On delivery of the vehicle to Consignee, Consignor shall produce evidence of ownership of the vehicle which may be held by Consignee while the vehicle is in Consignee’s possession. Consignor shall provide adequate documentation and proof of ownership so that the Consignee may complete a sale to the buyer. The consigned vehicle is delivered to the dealer in trust for the exact terms set forth in the agreement. The Consignee agrees to receive this vehicle in trust and not to permit its use for any other purpose than what is contained in this agreement without the express written consent of the Consignor.
*
By typing your initials below, you acknowledge and agree to the above terms.
Should Consignor wish to remove the vehicle from Consignee's premises, we require at least three days notice and then vehicle can be removed between 9am and 6pm on weekdays or upon set appointment.
*
By typing your initials below, you acknowledge and agree to the above terms.
TERM
Consignor agrees to consign the vehicle for 90 days. After the initial 90-day term, this Agreement can be terminated by either party, by giving 7 (seven) days written notice, provided there is no pending sale. The terms of this agreement are that the dealer shall return the vehicle to the consignor, or, enter into a new agreement at the termination of this consignment agreement.
*
By typing your initials below, you acknowledge and agree to the above terms.
Consignor hereby promises to defend, indemnify and hold harmless Consignee, its employees, agents and affiliates from any and all demands, judgments, claims, including reasonable legal and all other expenses, actually incurred and paid, incident to any claim whether baseless or well founded by any third party in connection with any automobile taken by Consignee on consignment, including without limitation any claim for taxes by any state of the United States, territory or political subdivision thereof. The indemnification language contained in this agreement shall survive the termination of the agreement. This agreement constitutes the entire agreement between the parties pertaining to the subject matter contained in it and supercedes any prior and contemporaneous agreements, representations and understandings of the parties. No supplement, modification or amendments of this agreement shall be binding unless it is executed in writing by each of the parties. No waiver of any of the provisions of this agreement shall be deemed or shall constitute a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver.
*
By typing your initials below, you acknowledge and agree to the above terms.
By typing your name below, you delcare that you have read and agree to the above terms.
*
Electronic Signature:
I warrant the truthfulness of the information provided in the form above.
*
I understand that an electronic signature has the same legal effect and can be enforced in the same way as a written signature.
Thank you!
