Consignment

Summary of Consignment

Goods in transit under a bill of lading (read this and related legal terms for further details)

(Main Author: William J. Miller)

Consignment in International Trade

Meaning of Consignment, according to the Dictionary of International Trade (Global Negotiator): Shipment of one or more pieces of property, accepted by a carrier for one shipper at one time, receipt for in one lot, and moving on one bill of lading. The exporter retains title of goods until the importer sells them. This payment term should be offered only to trustworthy importers with an excellent credit rating in countries where political and economic risk is very low. Consignments tend to be mainly used by companies trading with their own subsidiaries.

Consignment

Resources

See Also

• Reconsignment