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The Consignee will retain the agreed commission on all sales. The Vendor will receive the remaining percentage of the final sale price after deductions for transaction fees, including Shopify, credit card, and other electronic payment processing fees.
Payments will be made monthly to the Vendor via PayPal for all sales completed during the previous month. Due to electronic payment fees, the final revenue per product may vary slightly (typically between $0.50 to $1.00). For example, for a $20 product, the expected payout to the Vendor would be approximately $13.30 after fees.
Vendors are required to register for a vendor account at the Matiz Press Vendor Portal to track sales.
Matiz Press will promote the consigned products through its website, social media channels, and in-store displays. The Vendor is also encouraged to promote their products through their own networks.
At the end of the consignment period, unsold products may be returned to the Vendor upon request or may remain in Matiz Press's inventory for continued sale, as mutually agreed by both parties.
If the total payout to the Vendor exceeds $600, Matiz Press will require a W9 form for tax reporting purposes. A 1099 form will be issued to the Vendor if necessary.
The Vendor retains ownership of the products until they are sold. The Consignee agrees to take reasonable care of the products while in the store. In the event of damage or loss while in the custody of Matiz Press, the Consignee will notify the Vendor immediately.
Either party may terminate this agreement at any time with 14 days' written notice. Upon termination, all unsold products will be returned to the Vendor at the Vendor's expense or may remain in Matiz Press's inventory for continued sale upon mutual agreement.
The Vendor agrees to indemnify and hold harmless Matiz Press, its officers, employees, and agents from any and all claims, actions, suits, or damages arising from the Vendor's products, including but not limited to any claims of intellectual property infringement.
This Agreement constitutes the entire understanding between the parties regarding the consignment of the products. No changes or modifications to this Agreement shall be made unless agreed to in writing by both parties.
This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois, without regard to its conflict of law principles.
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