Question abt consignment

Idealistic!

Preciously! Jamie, I agree with you.

For those who may yet to experience consigning, usually a contract normally protects the interest of yourself but of course the terms has to be reasonable and agreeable by both parties. Just a generic contract will do - do not complicate as though a contract from a lawyer.

What situations do you normally face if you run a shop?
Normal situations would be - Damage, dirt, broken, lost & theft etc. How do you split? Do you or the shop/cart owner bare the losses or either split equally?

For the security deposit, I doubt anyone would want to give you any money though your goods are consigned to them. Firstly, they have a shop front and you could look for them anytime you want. Similarly, they don't trust you either, what if you supply them some "unwanted goods" and you run away with the security deposit and how are they going to look for you.

Trust is essential in business. Before you work with them, talk to the boss and you should be able to sense if he/she is a genuine person based on your instincts. If you still can't base on this, you can always ask them to show you their leasing contracts with the mall to assure you when their lease is due. Alternatively, your contract can always include both business registration number or NRIC. But if your consignment value not much, a contract may be too exaggerating.

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Best Regards