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WEEK 3.
SUBJECT: COMMERCE
CLASS: SS3
TOPIC: – BUSINESS DOCUMENTS
CONTENT:
SUB-TOPIC 1: Essential Business Documents (Letter of inquiry, invoice, credit, receipt quotation
LETTER OF INQUIRY:
The inquiry is usually the first stage in a transaction. It is sent by potential buyer to a seller, or many sellers, requesting information, prices and delivery terms related goods or services required. The enquiry may a letter or it may be standard printed form on which the information required can be filled. An alternative way to receive quotations is to invite tenders, i.e., offers of supply from any number of firms interested in supplying whatever is required. A tender is a competitive quotation one submitted in competition with other potential supplies. Tender may be invited by advertising an interest in receiving open quotations, or bids, in competition with others.
INVOICE:
An invoice is a form in which the seller lists the items sold to a buyer. The following particulars are usually contained in an invoice:
An ordinary invoice is used alongside with the goods. An invoice is sent without goods accompanying it (in advance of the goods) is called a pro forma invoice. It is sent under the following circumstances:
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