Consignment

Consignment in shipping refers to a situation where a party (the consignor) ships goods to another party (the consignee) but retains ownership of the goods until they are sold or used. The consignor retains the risk and costs associated with the goods until they are sold or used by the consignee. 

The consignee is usually responsible for storing and selling the goods and pays the consignor a percentage of the sale price as a commission. The consignor may also specify certain conditions or restrictions on the sale of the goods, such as a minimum sale price or a certain timeframe for selling the goods. 

Consignment arrangements are commonly used in the shipping industry for the sale of goods that may be difficult to sell or that require specialized knowledge or equipment for storage and handling. They are also used to reduce the risk and costs associated with shipping goods, as the consignor retains ownership until the goods are sold or used.