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Whenever you place a rental order or if you have inventory with SDN Inc. (Staging & Design Network) you agree to the following.
Terms and Conditions: You, the “Participant”, agree to participate in the Staging & Design Network (“SDN”) Shared Rental Pool under the terms and conditions set forth in this Agreement.
Rental Pool Policies: SDN has developed a process for managing, renting, selling, repairing, and disposing of furniture, finishings and accessories in the Rental Pool, as described in SDN’s Rental Pool Policies (as posted on the SDN website). Participant agrees (i) that the terms of the Rental Pool Policies apply to any furniture, finishings and accessories that Participant delivers to SDN and that are accepted by SDN; (ii) to comply with the Rental Pool Policies as in effect throughout the term of this Agreement; and (iii) that SDN may modify the Rental Pool Policies from time to time in its sole discretion without notice to you.
Consignment of Furniture and Finishings: By delivering furniture, finishings and accessories to SDN at any time following execution of this Agreement pursuant to the Rental Pool Policies, upon acceptance by SDN of the items listed on the Manifest accompanying the items (the “Inventory”), Participant hereby authorizes SDN to rent, sell, repair, replace and dispose of Inventory pursuant to the Rental Pool Policies. The Inventory will not be returned to Participant unless (i) Participant indicates the item is not for sale; and (ii) Participant picks up the item from SDN within the time frame specified in the Rental Pool Policies. The grant of authority to SDN in this paragraph is not revocable.
Rental Income: The Participant will receive a percentage of the rental income when others rent items from the Participant’s Inventory. If Participant rents items from Participant’s Inventory, a percentage discount will be applied to the rental price. Rental and sale income payable to Participants shall be paid not less than quarterly, or semi-annually, depending on the amount of rental income, as established from time to time by SDN in its Rental Pool Policies, within thirty (30) days after the end of each quarter or other applicable period.
Fees and Charges: Participant agrees to pay the monthly fees and charges (including repair costs) as set by SDN from time to time for each Inventory item. Participant may elect to use other services provided by SDN at the rates set by SDN from time to time.
Sale or Disposal of Inventory: Participant acknowledges and agrees that, upon acceptance of any Inventory item by SDN, SDN shall have authority to rent, repair, sell, dispose (whether by donation or otherwise), including by delivery to Hopeworks Social Enterprises, a Washington non-profit d/b/a RenewWorks Home & Décor Store, Everett, Washington, whose terms and conditions Participant hereby accepts), any and all items of Participant’s Inventory at any time in SDN’s sole discretion.
Term: This Agreement shall terminate on the sale or disposal of all of Participant’s Inventory.
Inventory Items: SDN will provide a form (the “Manifest”) for Participant to list the items Participant would like pre-screened. SDN will schedule a screening appointment to review the Inventory. Participant must complete the Manifest with each item’s name, value, dimensions, etc. If Participant fails to provide dimensions, name or a description, SDN will complete the missing information for a fee of $20 per item. After we receive Participant’s Manifest and have pre-screened and approved all items, SDN will make arrangements with Participant to have Participant’s Inventory brought to our Fulfillment Center or Participant may schedule a pick up by SDN (standard delivery fees apply).
Replacement Value: Although Participant may have listed a replacement value, SDN will assign a replacement value (in the event that Participant’s item is damaged) which may be the same or different than indicated. SDN’s replacement value will be the proceeds of what Participant would receive after the sale of a like item of same age in similar condition. SDN’s depreciation schedule is available upon request. SDN reserves the right to replace your item with a similar item that would rent for the same price at its sole discretion.
Intake of Participant Inventory: The most effective method to bring in new inventory is when homes are de-staged. Participant must reserve space on the truck when scheduling a pickup and have a completed and approved manifest before any items are picked up or received either during a de-stage or in the receiving area at SDN. These are important steps in being able to give Participant Inventory the proper handling and viewing. SDN can also pick up from a storage facility. Please be advised that poor layout and lighting at the pick-up venue can make it difficult to screen items and they may be rejected after full review at SDN.
For Rent and For Sale: All items in SDN’s Rental Pool are available for rent and, at your option, for sale (by checking the applicable box on the Manifest or member account page on the SDN website). If an Inventory item is damaged, SDN reserves the right to sell the item.
Sale Income: Participants may sell items in the Resale Gallery and will receive 60% of the sales proceeds.
Depreciation and Normal Wear and Tear: SDN uses professionals to manage and move Participant’s inventory; however, inventory is subject to normal wear and tear, and will diminish in value.
While SDN typically depreciates inventory over 24-months, SDN has the discretion to accelerate depreciation if it determines that the item has depreciated more rapidly.
Touch Up or Replacement: SDN will touch up inventory at no charge to Participant in between rentals. However, if an item is damaged during rental or transport, the party responsible will either purchase or pay for the replacement of the item. SDN will determine whether to replace, repair or purchase the item. If the item is replaced, it will be with another item similar in value and rental price that SDN believes will rent well. SDN’s goal is to expedite the process on the Participant’s behalf.
Utilization Rates and Inventory Removal: SDN has limited warehouse space. As a result, a minimum return on investment is targeted by measuring the utilization rate quarterly for each piece in SDN’s system. SDN’s target utilization rate is 70% and the minimum is 50%.
If Participant’s item falls below 50% or SDN deems the item unrentable, SDN will dispose of the item, usually by selling or donating the item, as SDN determines in its sole discretion. If Participant indicated that the item is not for sale, SDN will use reasonable efforts to notify Participant and provide an opportunity to pick up the item. SDN will dispose of the item if Participant fails to pick up the item within ten (10) calendar days.
Catalog Fees: SDN charges a monthly catalog fee of $2.05 per large item (i.e. Sofas, Tables, Accent Furniture, ect.) $0.60 per small item (i.e. Pillows, blankets, small home decor, ect.) to have Participant’s item in the system.
Managing inventory is not just a matter of storing it on a shelf. In addition to the work involved with bringing inventory into the system (such as photography, measuring, uploading to the Rental Pool, Resale Gallery and the “My Account” page), SDN also invests in marketing items in the Rental Pool. SDN provides staff to manage the inventory with picking, packing, pulling, touch-ups, billing, claims and collections as needed. SDN also continues to invest in SDN’s patent-pending technology so money is earned on inventory that offsets Participant’s rentals from others.
Placing Inventory on Reserve: Participants are able to reserve their own inventory for use. Upon reserving Inventory, if Participant does not use Inventory enough to cause a 50% utilization rate as previously mentioned, SDN will remove it from reserved status and sell or donate the item. SDN has found that our members benefit from investing in inventory when their utilization rate is 50% or higher. If inventory is not rented for at least six months out of the year, it’s likely not in demand by clients or by other members, or in desirable condition. Participants will receive a faster and better return by replacing it with items that are in more demand.
Delivery and Pick Up Services: SDN offers pick up or delivery services for Inventory. Contact SDN for current schedule availability and current rates.
Unrented Items: On occasion, Participant’s Inventory may be unavailable for rent due to various reasons, including repair work or misplacement. SDN does not guarantee that Participant’s Inventory will always be available for rent or that Participant will receive rental income on Inventory.
Formal Agreement – Online: From time to time, the terms of SDN’s Rental/Sales/Consignment Agreement may be changed or updated. Changes will be online as well as announced during Newsletter updates. It is the responsibility of the Participant to check for updates periodically to stay informed of any changes.