Enquiry Note No.: _______________________ Date: ____________ ✓ Solved

Enquiry Note No.: _______________________ Date: _______________________ Phone:

Choose any THREE (3) business documents. For each document chosen you must show:

i. A diagram of the business document, with the information filled in. The information should be based on a business of your choice.

ii. Explain the information on the document.

iii. Explain the purpose of the document.

Show TWO (2) foreign trade documents and FULLY discuss the purpose of each document shown.

PRESENTATION: Information must be presented in a logical manner using correct grammar and spelling. Each document should be placed on a separate page. The front cover should include a design appropriate with the assignment and contain the student's name, name of subject, name of teacher, class, date submitted, and an appropriate title.

Paper For Above Instructions

When conducting business, various documents are essential for efficient operations, communication, and financial transactions. This paper will discuss three key business documents: the Enquiry Note, the Invoice, and the Purchase Order. Additionally, it will cover two foreign trade documents—the Bill of Lading and the Insurance Certificate.

Enquiry Note

An Enquiry Note is a document sent to suppliers or vendors to request information about the availability and details of certain products. It typically includes key details such as the date of the enquiry, the company's contact information, and the specific articles requested.

The purpose of an enquiry note is to initiate communication with potential suppliers and gather necessary information to make purchasing decisions. The information contained within the document includes: the name of the sender, the recipient's contact information, the date, and specifics about the articles being sought, such as quantities and specifications.

A filled Enquiry Note might look like this:

• Enquiry Note No: 0001
• Date: October 1, 2023
• Phone: +1 234-567-8901
• From: ABC Supplies Ltd.
• To: XYZ Products Inc.
• Requested items: 100 units of Product A, 50 units of Product B.

This document's format typically consists of headings, contact information, and a clear list of the articles requested, making it easy for the recipient to understand and respond to the inquiry.

Invoice

An Invoice is a billing document that provides detailed information about the goods or services provided to a customer. It is crucial in the sales process as it outlines the terms of sale, including the total price, payment terms, and delivery details.

Key information typically found in an invoice includes: invoice number, date, due date, itemized list of products or services, quantities, prices, applicable taxes, and the grand total amount due.

The purpose of the invoice is twofold—first, it serves as a request for payment, and second, it acts as a record of the transaction for both the buyer and the seller. For example, an invoice may be structured as follows:

• Invoice No: 001234
• Date: October 8, 2023
• Due Date: October 15, 2023
• Items: Product A x 100 @ $10 = $1,000
• Product B x 50 @ $15 = $750
• Subtotal: $1,750
• Tax (5%): $87.50
• Total: $1,837.50

In this way, invoices ensure transparency and accountability in financial transactions between businesses and their clients.

Purchase Order

A Purchase Order (PO) is a formal document issued by a buyer to a seller indicating the details of the products or services required. POs streamline the purchasing process and serve as a contract between both parties.

The information on a Purchase Order includes: PO number, date, vendor information, payment terms, delivery instructions, and a detailed description of the order including items, quantities, and agreed prices.

The primary purpose is to initiate the purchase of goods or services, ensuring the seller has clear instruction for fulfillment. A typical Purchase Order might appear as follows:

• Purchase Order No: PO-5678
• Date: October 5, 2023
• Delivery to: ABC Supplies Ltd., 123 Main St., City, State ZIP
• Items: Product A x 100, Product B x 200
• Terms of Payment: Net 30 Days

Utilizing a Purchase Order greatly reduces misunderstandings in transactions, ensuring that both parties are aligned on expectations.

Foreign Trade Documents

Foreign trade documents are crucial when dealing with international transactions. The Bill of Lading and the Insurance Certificate are two key documents that facilitate this process.

Bill of Lading

A Bill of Lading (BOL) is a legal document between a shipper and a carrier that outlines the details and conditions of transporting goods. It serves as a receipt for cargo, a contract for carriage, and a document of title representing ownership of the goods in transit.

The Bill of Lading includes critical information such as names of the sender and receiver, an itemized list of goods, shipment details, and transportation terms. Its purpose is to provide proof of shipment and facilitate customs clearance when the goods reach their destination.

Insurance Certificate

An Insurance Certificate provides proof of insurance coverage for goods in transit. It details the nature of the coverage, terms, and conditions applicable, ensuring that the goods are protected against loss or damage during shipment.

The key information generally included in an Insurance Certificate consists of the policy number, coverage amount, date of issue, and details of the goods insured. This document is critical in international trade, as it protects both buyers and sellers against potential losses during transportation.

Conclusion

In conclusion, the Enquiry Note, Invoice, and Purchase Order are vital business documents that facilitate communication and transactions in the supply chain. Additionally, foreign trade documents such as the Bill of Lading and Insurance Certificate play significant roles in managing international shipping processes. Understanding these documents' structures and purposes is essential for effective business operations.

References

• Chaffey, D. (2019). Digital Business and E-commerce Management. Pearson Education.
• Morley, S., & Parker, J. (2020). Business Communication. Cengage Learning.
• Kossel, J. M., & Rajna, K. (2018). International Trade Finance. Routledge.
• Laudon, K. C., & Traver, C. G. (2020). E-commerce: Business, Technology, Society. Pearson.
• Graham, E. (2019). Supply Chain Management: A Logistics Perspective. Cengage Learning.
• Schmid, G., & Prufer, J. (2018). Business Law: Text and Cases. Cengage Learning.
• Harvard Business Review. (2020). The Essentials of Business Documents: Understanding and Creating Business Documents. HBR Press.
• International Chamber of Commerce (ICC). (2021). Incoterms 2020: ICC Rules for the Use of Domestic and International Trade Terms. ICC.
• Field, R. (2018). The Importance of Logistics in Foreign Trade. Logistics Management.
• O'Brien, K. (2021). Mastering Business Document Design. Wiley.