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Consignment refers to the practice of a seller entrusting their inventory to a third party, known as a consignee, for a period of time before delivering it to the customer. The consignee holds the product and delivers it to the customer upon request, while the seller maintains ownership and responsibility for managing the product. The consignee performs services such as storage, transportation, and delivery, and is compensated according to the conditions specified in the contract with the seller.
Source : ChatGPT
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