Question

Discuss the 'price quotation' and 'Terms of sales'.

Answer 1

In modern economies, prices are generally expressed in units of some form of currency. (For commodities, they are expressed as currency per unit weight of the commodity, e.g. euros per kilogram or Rands per KG.) Although prices could be quoted as quantities of other goods or services, this sort of barter exchange is rarely seen.

Answer 2

A pro forma invoice is a quotation prepared in the format of an invoice; it is the preferred method in the exporting business. A quotation describes the product, states a price for it, sets the time of shipment, and specifies the terms of sale and terms of payment.