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TeachMeFinance.com - explain On consignment historic definition... On consignment -- Said of goods which are sent by one party (who is the consignor) to another party (who is the consignee) to be sold by the latter for the benefit of the former. Property forwarded on consignment is paid for as sales of it are effected. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.