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consignee


 
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Term of the Day

consignee

party (usually a buyer) named by the consignor (usually a seller) intransportation documents as the party to whose order a consignment will be delivered at the port of destination. The consignee is considered to be theowner 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 seller's invoice in full.
Learn more about this term
Usage Example
The company picked an employee it trusted greatly as their consignee to receive and sign for the large amount of supplies needed for the manufacturing process.