Consignment/Bound book question

[Sundancer]

When are C&R dispositions entered in bound book - when consigned or when sold? I would think when consigned to another FFL holder but I am not certain. Thank you for helping.


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[Bob A]

I'd say on consignment, as it has been transferred to another license holder.

If one chooses to reclaim a consigned firearm, the process is identical to a sale; you are effectively buying it back.

 

[somd_mustangs]

Indeed, when it transfers out of your possession to the FFL, you log it out of your book.
If it comes back for some reason, you log it back in as a new entry. Been there, had to do that

 

[John from MD]

I'd say on consignment, as it has been transferred to another license holder.

If one chooses to reclaim a consigned firearm, the process is identical to a sale; you are effectively buying it back.

I agree.

 

[Melnic]

Just like Bob A says. I sold C&R item to non C&R holder last year. I entered the gun shop info into bound book.
If its consignment, think of it, you will not be the one doing the transfer to the buyer and the FFL SHOULD NOT be giving you their info anyway.

 

[Sundancer]

Thank you all for the help!


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[lazarus]

Indeed, when it transfers out of your possession to the FFL, you log it out of your book.
If it comes back for some reason, you log it back in as a new entry. Been there, had to do that

That. Within 24hrs IIRC.

If you have it, it’s in your book. If you don’t have it, it’s in the dispositions side of the book. Anytime that changes, it goes in the book.