Business Transactions I: Inquiries & Offers Flashcards
General inquiry
Buyer asks general infos about the products of the supplier.
Specific inquiry
Buyer asks infos about a detailed offer which can state prices, terms of payment etc.
Offer (of goods)
=Angebot
Voluntary, unsolicited offer
A particular seller declares his willingness to sell certain specific goods at a specified price and on specified terms.
Solicited offer
Offer of goods in response to an inquiry.
Terms of delivery
=Lieferbedingungen
A contract of sale stipulating the time, place and mode of delivery of the goods.
International trade: INCOTERMS
Terms of payment
=Zahlungsbedingungen
Define, in greater detail, the price agreed btw the buyer and the seller by specifying the time, place and method of payment, as well as any discounts.
3/7 net 21
3% cash discount if , and only if, payment is effected within 7 days.
Documents against payment (D/P)
The amount is paid by the buyer only when he is handed the documents representing the contract goods.
INCOTERMS
International Commercial Terms
Trade terms with the purpose of helping the parties to an international contract of sale to define the contract price more accurately.
The application of INCOTERMS is completely voluntary; parties can agree on particular variations or additions.
C.I.F.
Cost Insurance Freight
COSTURI + INSURANCE => pana se coboara din boat
The seller must bear all costs necessary to bring the goods to the named port of destination and he must, at his own expense, procure marine insurance against the risk of loss or damage during carriage. The seller’s responsability for the items ends when the goods “get off the boat” at the port of shipment.
F.O.B.
Free On Board
Odata ce le-ai urcat on board, esti free.
The seller undertakes to place the goods on board of the vessel at the port named in the contract. The risk of loss or damage passes to the buyer when they cross the ship’s rail.
EXW EX WORKS (eg ex factory, ex mill, ex warehouse etc)
Min obligation for Seller
The seller’s sole responsability is to make the contract goods available at the premisis (his factory). The buyer bears all costs and risks.
DDP
DELIVERY DUTY PAID
Min obligation for the Buyer
Under this agreement, the seller has to bear all costs and risks of the contract goods until these have been placed at the buyer’s disposal at the named place of destination.
Discount
=Preisnachlass
Reduction of the price
Cash discount
=Skonto
The supplier offers the buyer a cash discount as an incentive for early payment.
2/10 net 30
SKONTO => se scad 2% din pret (ce ramane dupa orice alt discount anterior)
Quantity discount
=Mengenrabatt
Reduction on the list price of goods which depends on the quantity purchased.
Seasonal discount
= Saisonrabatt
Price reduction given to a customer who places an order during the slack season.
Retailers grant such discounts in order to clear residual stocks of seasonal goods (eg price of sports articles)
Trade discount (=Handelsrabatt)
Reduction in price of a product granted to a specific class of buyers, such as wholesalers or retailers.
The ultimate consumer pays the most (iar apoi in chain, retailer plateste la wholesaler, wholesaler la manufacturer etc.)
Cash
=sofortige Bezahlung
In a business communication context, the term of cash is frequently applied to PROMPT PAYMENT, by whatever means.
Cash with order
=Zahlung bei Auftragserteilung
BEFORE/ payment in advance
A condition of payment indicating that a seller is prepared to supply a buyer only if he recieves payment for the goods in question together with the order.
C.O.D.
Cash On Delivery
zB prin DHL
Payment ON DELIVERY; the carrier involved is entrusted with the collection of the amount; once the amount has been payed, the goods are released.
Sale on deffered terms
=Zielverkauf
CREDIT sale - AFTER
2/7 net 30
The seller grants the buyer a period of time for payment. If the buyer pays sooner (7days) he is granted a discount. If not, he can make the payment in 30 days.
Open account
=offene Rechnung
Form of payment under which a customer who makes regular purchases from the same supplier does not pay for each of them separately; he settles and pays on predetermined interval.
Down payment
=Anzahlung
Deposit - BEFORE or ON sign of the contract or when the goods are delivered
For instance, the importer may have to pay 5% of the price when the contract is signed and 10% on the delivery. The remainder may be subject to a variety of credit terms.
Instalment
= Rate
Number of part payments, which are typically of equal amount and due at regular intervals.
Instalment sale
=Ratenkauf
AMC2 Ratenkauf
Goods are bought on instalment plan: buyer is usually required to make a down payment; the balance is settled by means of a number of part instalments.
Creditworthiness
A person’s, a compay’s or a country’s ability and willingness to pay his or its debts in due course.mit is a measure of financial strength and influences the amount of credit which suppliers are prepared to grant.
Inquiry
=Anfrage
Letter addressed by a prospective customer to supplier where he states simply what they want (asta nu inseamna ca customer o sa si cumpere produsul).
