Term of the Day CONSIGNEE A party (usually a buyer) named by - TopicsExpress

Term of the Day CONSIGNEE A party (usually a buyer) named by the consignor (usually a seller) in transportation documents as the party to whose order a consignment will be delivered at the port of destination. The consignee is considered to be the owner of the consignment for the purpose of filing the customs declaration, and for paying duties and taxes. Formal ownership of the consignment, however, transfers to the consignee only upon payment of the sellers invoice in full.

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