Jhrop markets and sells luxury designer clothing, handbags, jewelry and watches. You would like Jhrop to sell the items that you have sent to us or that we have collected from you on a consignment basis. This means that you, not Jhrop, will still own the Property, even after you transfer physical possession of the Property to Jhrop. After Jhrop receives or picks up Property from you, Jhrop will confirm the items of Property received. Jhrop accepts the Property from you on a consignment basis only. You are responsible for all risk of loss or damage to the Property until Jhrop takes physical possession of it. If an item of Property is damaged, stolen, or lost while in Jhrop’s possession, it will be treated as Sold and Jhrop will pay you a Commission on that item. The Commission will be based on the damaged, stolen, or lost item’s estimated selling price, which will be determined solely by Jhrop. Upon receipt, Jhrop will provide an initial product count. Jhrop will evaluate each item of Property to deter- mine, in its sole discretion, its authenticity, quality, and value. The item’s condition will affect the valuation. Jhrop only Accepts Property for consignment that: (a) Jhrop determines in its sole discretion to be in very good to excellent condition and (b) Jhrop determines in its sole discretion to be authentic. Property that does not meet the above requirements will not be accepted and will be either (1) returned to you at your expense or (2) at your request, Jhrop will donate your items to a charity of its choice. You are responsible for ensuring the authenticity of all Property you provide to us. If Jhrop cannot confirm the authenticity of any item of Property you have provided, it shall have the right in its sole discretion to refuse to accept the item. If Jhrop determines at any time that an item of Property is counterfeit, Jhrop shall notify you that it has made such a determination and you will have an opportunity to provide proof of purchase/other proof of authenticity acceptable to Jhrop. You acknowledge and agree that any item Jhrop finally determines to be counterfeit will not be returned to you and will be destroyed. You acknowledge and understand that Jhrop is subject to laws and regulations relating to claims that consigned items are counterfeit, have been stolen, or otherwise violate applicable law. Jhrop takes such reports seriously and will cooperate with law enforcement in all investigations. The Consignment Period for each item of Property begins on the date Jhrop accepts the item for consignment and ends 545 days thereafter. At any time during the Consignment Period, and subject to this provision, you may request in writing that Jhrop re- turn the item so long as the item has not already been Sold. Once Jhrop receives your Return Request, it will use commercially reasonable efforts to remove the item from the site before it is sold. It is your responsibility to ensure that Jhrop has your most current contact information and mailing address. Jhrop will charge you a handing fee of HK$465 per every item, which fees reflect Jhrop’s up-front costs of storing, cataloging, and photographing the item in preparation for sale, plus (ii) applicable shipping costs. If the Return Request is made 365 days or less from the date Jhrop accepted the item, Jhrop will return the item within 30 days. Jhrop will charge you the handling costs and cost of return and, in such case, such costs shall be deducted from your pending Commissions. If you do not have enough pending Commissions available to cover the costs of return, Jhrop shall have no obli- gation to return the item to you unless and until you pay Jhrop the costs of return prior to shipment. If the Return Request is made more than 366 days after Acceptance, the item will be returned within 30 days at Jhrop’ expense and no handling fee and return fees will be added. If an item remains unsold at the end of the Commission Period of 545 days, Jhrop will contact you and, at your option and Jhrop’s expense: (i) return the item to you or (ii) donate the item to a charity of Jhrop’s choice. If at the end of the Commission Period Jhrop is unable to contact you at the email or physical address it has on file for you in accordance, the item will be donated to a charity of Jhrop’s choice. So long as you comply with this Agreement, Jhrop will display on the Site and make commercially reasonable efforts to sell the Property. You acknowledge and agree that: (a) Jhrop in its sole dis- cretion will determine the initial selling price for each item of Property (the “Initial Sale Price”) based on its evaluation of that item, together with its determination of the current market price for that item; (b) In order to market and promote the sale of each item, Jhrop will offer discounts and promotions during the Consignment Period, at its sole discretion and without notice to you, as a means to efficiently market and sell the Property, unless Jhrop and you have otherwise agreed in writing to a specific price at which a specific item must be sold. (c) Selling price will be determined at Jhrop’ sole discretion unless previously agreed in writing. Commissions per Item are calculated at the higher of HK$465 and the applicable percentage Commission Rate of the final sale price of an Item. A Commission Rate being the higher of HK$465 or Agreed Commission will apply for all items Sold with Jhrop. You will continue to own and have title to each item of Property until that item is “Sold”. An item will be considered Sold when: (a) it is sold by Jhrop to a customer and not returned to Jhrop within the period specified in Jhrop’s then-current Return Policy ; (b) it is lost, stolen, damaged, or destroyed while in Jhrop’s possession. Jhrop will pay you a Commission on each item of Property that is Sold. The Commission shall be equal to the item’s Net Selling Price multiplied by the applicable Commission Rate. The Commissions you receive for Sales of your Property are the sole compensation you will receive under this Agreement. Net Selling Price means the price at which an item of Property is Sold, less applicable discounts and shipping costs. Once you agree to this contract, it will remain in full effect until you or Jhrop terminates it.
