1) A process in which goods are entrusted to a third party until possession is transferred from the original owner to the final owner. In the freight industry, the transportation provider is often the third party who takes goods from an exporter (called the consignor) at the point of origin. The consignor retains ownership of the goods until the carrier turns them over to the recipient, called the consignee, at the destination location.
2) Consignment is an arrangement in which goods are sold through a third party. The owner of the goods (consignee) pays a percentage of the revenue from the sale to the third party agent (consignor) for facilitating the sale.
