Commerce SSS3 First Term
The student should be able to:
1. Describe essential business documents.
2. Explain the meaning of trade terms.
Essential Business Documents
Letter of Inquiry
The inquiry is usually the first stage in a transaction. It is sent by a 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 submits.... View More
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