SELLER TERMS & CONDITIONS
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.
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.
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.
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.
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
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