Posts

Showing posts from November 4, 2017

Introduction to International Trade Documentation – Part 5

Transaction Documents Transaction documents are generated by the buyer and seller to define their business relationship and provide an accounting record of individual transactions. These documents range from a simple letter of inquiry to a contract for the sale of goods and a commercial invoice. Letter of Inquiry This is a simple letter written by the buyer asking the seller if a product is available or if the seller will bid on the supply of a product. This letter is generally short and does not include detail specifications. Request for Quotation This is a letter written by the buyer asking the seller to submit a formal price quotation for a specified product and quantity.  A Request for Quotation is generally used for a one time sale of an existing product from the seller’s inventory or product line, or a fungible product. Request for Proposal This is a letter written by the buyer asking the seller to submit a formal proposal for a specified product and quantity. A R