A consignment policy is a set of guidelines that outlines the rules and regulations related to selling or shipping goods on behalf of another party. These policies usually set out the responsibilities of both the purchaser and seller, including the pricing, delivery times, payment terms, and any returns or refunds that may become necessary. Consignment policies are important for both buyers and sellers in order to ensure that all parties involved understand their respective roles and obligations. Put simply, it provides clarity and certainty to the business relationship.