As described, and works for us.  
The parts are clicked together (no screws), so it's easy to assemble.  The downfall is that you can't compress your cushions inside because the pressure they put on the box pushes out the side. (This means that if your cushions are a couple of inches wider than the box, you can't and compress it, and then store it in the box.)   So we had to stack our cushions differently.