Consignment Value definition
Examples of Consignment Value in a sentence
In addition, a freight subsidy will be added to the Consignment Value.
The Consignment Value shall be determined based on normal commercial terms after arm’s length negotiation and on such terms that are no less favourable to the Group than those applicable to Independent Third Parties in the ordinary course of business of the Group.
Upon acceptance by the Group, members of the ▇▇▇▇▇ Family will consign jewellery items to the Group at the Consignment Value and the Group will sell the consigned jewellery items at its retail shops.
When the consigned jewellery items are sold to its customers, the Group shall pay the consignors the Consignment Value and the Group shall make profit from the mark-up amount above the agreed Consignment Value.
As the applicable percentage ratios calculated with reference to the New Consignment Annual Caps (which is the total Consignment Value of the jewellery items estimated to be consigned to the Group by members of the ▇▇▇▇▇ Family for each year) are more than 0.1% but less than 5%, the Transactions are subject to the announcement, reporting and annual review requirements, but exempt from the approval of the independent shareholders of the Company under Chapter 14A of the Listing Rules.
When the Consigned Items are sold to its customers, the Group shall pay the consignors the Consignment Value and the Group shall make profit from the mark-up amount above the agreed Consignment Value.
During the period from 1 January 2017 to 31 December 2019 (the “Period”), a jewellery item with Consignment Value of HK$10,000,000 consigned from Dr. ▇▇▇▇▇▇ ▇▇▇▇▇’▇ associate was recorded and no sale of such item was made during the Period.
The 2020 Consignment Agreement provides that the Consignment Value and other specific terms of each consignment shall be specified in each individual contract to be agreed between the Group and the individual member of the ▇▇▇▇▇ Family on case by case basis.
The Group in its sole discretion determines the retail prices of the Consigned Items no less than the Consignment Value.
The Consignment Value shall also be determined by both parties with reference to the market price or particular features of the relevant products (such as the rarity, the design and the popularity of a particular piece of jewellery) upon acceptance of the consigned jewellery items by the Group from any ▇▇▇▇▇ Family member(s).