Overview
List and describe the various documents used in buying and selling of goods; Explain trade terms; State the full meaning of Mthe abbreviations used in trade; Eumerate# terms of sale; List and evaluate the various means of payments.
What you'll learn
- Essential Business Documents:
- Letter of inquiry, invoice, credit, receipt, quotation, catalogue, price list, delivery notes, advice notes, consignment notes, proforma invoice, statement ofN accounts, and debt note, etc.
- Trade terms and abbreviations:
- Trade of Discount COD (Cash on Delivery)
- CIF,(Cost Insurance Freight)
- FOR (Force on Rail)
- FAS (Force Alongside Slip)
- Terms of trade:
- Cash, credit payment in arrears (deferred payment)
- Means of payment:
- Legal tender e.g. coins, bank note.
- Through the banks, e.g. cheques, western union, electronic money transfer, money gram.
- Standing order
- Bank drafts
- Through the post office e.g.Ncredit transfer (Bank coins) stamps, credit card, value card, promissory note, telegraphic transfer, mail transfer, bills of exchanqe travelers cheque)