Terms of trade/sales

Commerce SSS3 First Term

WEEK 3

Terms of trade/sales

Performance Objectives

The student should be able to:

        1. Explain the terms of trade/sales.

 Content

Terms of Sale

1. Cash sale: It involves the transfer of property or goods from the seller to the buyer on cash basis. Cash payment will be made immediately for goods sold to customers.

Types of Cash Sale

I. Prompt cash: Payment of cash for the goods within a few days

II. Spot cash: The buyer pays cash immediately for goods bought before taking them away.

III. Cash with Order (CWO): The buyer encloses the money when the order is made.

IV. Cash on Delivery (COD): The buyer pays for the goods as they are…