Etymology:
The word "consignment" comes from the Latin word "consignare," meaning "to seal" or "to mark."
Meaning:
A consignment is an arrangement in which a seller (the consignor) delivers goods to a buyer (the consignee) for sale, with the consignee paying the consignor only if the goods are sold.
Origin:
The concept of consignment has been around for centuries. It was commonly used in the Middle Ages when merchants would send goods to distant markets on ships, with the promise of payment only if the goods were sold. Over time, consignment became a more formalized arrangement, and it is now used in a variety of industries, including retail, manufacturing, and shipping.
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