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SELLER TERMS & CONDITIONS

1. Recitals

The following agreement (“Agreement”) is between Designer Vault LLC (“Designer Vault”) and the individual or entity whose name and address are provided in Paragraph 15 (“User”). Individually each shall be referred to as “Party” and collectively as the “Parties” to this Agreement. If the User elected to work with Designer Vault under consigned terms, paragraphs 1-3 and 5-15 are applicable to this Agreement. Items under consignment are to be referred to as “consigned items” in this Agreement. If the User elected to work with Designer Vault under purchasing terms, paragraphs 1-2 and 4-15 are applicable to this Agreement. Items intended to be purchased by Designer Vault are to be referred to as “purchased items” in this Agreement. Consigned and purchased items can be part of this Agreement simultaneously. Items User elects to consign with or sell to Designer Vault are listed in Appendix A attached hereto and incorporated herein by this reference.

2. Terms

The term for consigned items shall be 180 days and can be terminated by either Party by giving 10 days written notice to the other Party. Upon the expiration of the Term, Designer Vault shall return any unsold merchandise within 30 days. In consideration of the mutual promises and conditions contained in this Agreement, User agrees to sell to Designer Vault, and Designer Vault agrees to purchase from User, on the terms, conditions, warranties and representations set forth in this Agreement purchased items listed in Appendix A of the Agreement.

3. Consignment Process

User consents to using quote submission system found at http://www.designervault.com/pages/consign-with-us to receive and send information to and from Designer Vault. User understands that during the Term of this Agreement there is no predetermined schedule of discounts for consigned items. Unless approved by Designer Vault, consigned items are not eligible for purchase by Designer Vault during the Term of this Agreement. Upon receipt of the consigned items, Designer Vault will inspect, authenticate and conduct minor cleaning of the consigned items prior to photographing and posting the consigned items to its website. If upon physical inspection of any consigned item, the condition of such consigned item is below the condition represented by the User or as presented in photographs or in person to the representative of the Designer Vault, User will be notified of the changed condition classification. In the event there is a change in the condition, Designer Vault reserves the sole right to either: (a) change the payout range for the consigned item or (b) return the consigned item back to User. Consigned items that have passed inspection and have been accepted by Designer Vault will be listed for sale on www.designer-vault.com or other e-commerce platforms selected by Designer Vault in its sole discretion. After the consigned items are accepted by Designer Vault, Users will not interfere and/or participate with the sale process.

4. Authenticity, Condition & Return Fees

If any consigned or purchased item is found to be counterfeit, Designer Vault will return item to User upon User’s payment of authentication fee of Fifty Dollars (US $50.00). If any purchased item found to be counterfeit and User has already received payment for such purchased item, User agrees to promptly return any and all funds issued for such item to Designer Vault within three (3) business days. For all received items User must disclose to the Designer Vault any and all flaws, damage, and/or alterations for each consigned or purchased item. If upon inspection by Designer Vault the item exhibits wear, damage or any type of alterations which have not been disclosed by the User at time of submission for quote to Designer Vault, Designer Vault will notify the User and return an item to User upon User’s payment of Twenty-Five Dollars (US $25.00) and optional shipment insurance fee as provided in Paragraph 9 of this Agreement. If User requests the consigned item to be returned before the end of the term of this Agreement, such item will be returned to User upon User’s payment of return fee of Twenty-Five Dollars (US $25.00) a one percent (1%) of agreed upon consignment value and optional shipment insurance fee as provided in Paragraph 9 of this Agreement.

5. Payment of Consigned Goods

For consigned items within 25 days following the end of each month, Designer Vault shall pay to User all commission received from the sale of User’s consigned items adjusted for returns during the previous calendar month. User is paid via the saved method selected in his/her account found at http://www.designer-vault.com/pages/consign-with-us. If User elected optional shipping insurance as provided in Paragraph 9 of the Agreement, cost of such optional shipping insurance will be deducted from the payment received by the User for consigned and/ or purchased items.

6. Ownership

User attests that the User has legal title to and is in a legal possession of all items listed in Appendix A. User further assigns to Designer Vault, all rights necessary for Designer Vault to take possession, list and sell the items listed in Appendix A on User’s behalf or through a direct sale transaction with Designer Vault. User agrees to indemnify and hold harmless the Designer Vault for any damages arising from any and all claims, demands, losses, causes of action, damage, lawsuits, judgements, including attorneys’ fees and costs, to the extent caused by or arising out of or relating to the User’s unlawful ownership of the item(s) that are subject to this Agreement.

7. Shipping

Designer Vault will provide shipping labels for all domestic inbound shipments at no cost to the User. Designer Vault will provide shipping labels for international inbound shipments and pay up to One Hundred Dollars (US $100) for the international inbound or outbound shipments. User is responsible to pay all customs and duty fees. Unless otherwise stated in this agreement, Designer Vault will not provide any insurance for any inbound or outbound shipments.

8. Shipping Insurance

User may elect optional insurance against loss or damage for inbound packages for a full value of the items but not to exceed either the agreed upon consigned or purchased price quoted by Designer Vault in Appendix A. For all domestic packages maximum optional insurance value per package is five thousand dollars (US $5000). User is to be charged domestic shipping insurance fee of fifteen (US $15) dollars per package. For all international packages maximum optional insurance value is seventy-five hundred dollars (US $7500). User is to be charged international shipping insurance fee of thirty (US $30) dollars. Optional insurance is only applicable for double boxed packages dropped off at designated carrier locations and delivered into the hands of uniformed representatives from FedEx, UPS and DHL.

9. Loss or Damage

Unless otherwise stated in this agreement, User is liable and responsible for the loss of consigned and purchased items and will ensure that all such items are insured against damage or loss until such items are delivered to and accepted by Designer Vault. Designer Vault represents and warrants that it shall maintain all required damage, loss and theft protection coverage for its office and warehouse locations necessary to insure the consigned and purchased items while such items are in possession of Designer Vault.

10. Notices

For all Parties written notices are to be given using “messaging” interface found at http://quote.designer-vault.com/users/sign_in that contains designated e-mail addresses of the Parties.

11. Governing Law, Attorney Fee's

This Agreement will be governed by the laws of San Diego County of the State of California USA. Prevailing Party has a right to recover reasonable attorney fees.

12. Use of E-Mail Address

User consents and permits Designer Vault to use e-mail address provided on the account of the submission quote system at http://quote.designer-vault.com/users/sign_in. 

13. Signature and Address of the Parties

This Agreement is valid in its all entirety when signed electronically or in ink by an authorized representative of Designer Vault. Signatures of the Parties to this Agreement are below

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