Making credit inquiry
Making offer
Making counteroffer
Accepting counteroffer
How to draw up a business letter
for each step
From: Alexander Sergei
To: Jo, Heungcheol
Date: April 3, 2017
Subject: Inquiry for water purifiers Dear Mr. Jo,
We thank you very much for your email of
March 27, 2017, in which you offered to open an account with us.
We would appreciate receiving your best
CIF Vladivostok price on vacuum cleaners for twenty(20) container unit. And we
require the shipment within 3 months after you receive L/C. If your prices are competitive, we will be able to place a large order.
※ CIF: Cost, Insurance and Freight
運賃 保險料 包含 引渡條件
For any information as to our financial standing and reputation, please refer to RosBank, Vladivostok Branch, Russia
Thank you very much for your attention, and we look forward to receiving
your reply soon.
Best regards,
Alexander Sergei, overseas sales team Vashilov Corporation
(his company address)
(his contact information)
• reliability/ responsibility • business conduct
• debt service(債務辨濟)
C
haracter
• assets/ financial status • capital strength
C
apital
• business ability, condition • business items
• business showings(賣出額)
Bank reference
usually used reference Trade
Bank reference Yearbook/ Directory Chamber of Commerce Credit Bureau
- Referring to the banks with which the prospect has an account as to his credit
▶ Traders usually use this method
▶The party that makes inquiry usually lets the exporter know his/her bank as a reference.
- Asking one of your existing business
connections abroad about the prospect’s credit
- Asking a firm that has an account with the prospect about his credit
- Referring to various yearbooks or directories of commerce
- Asking the chamber of commerce at home or abroad to investigate the
prospect’s credit
- Ask credit bureaus to investigate the prospect’s credit.
Credit bureaus
Dun & Bradstreet Information Services Tokyo Merchantile Agency
Korea Trade Insurance Corporation ▶ You can use the embassy or the
chamber of commerce to find credit bureaus.
(1) Introductory part
Tell the receiver how you got to
know him/her and why you are writing this email.
(2) Main part
•
Write the items of inquiryand request the reference to provide information on the prospect’s credit
• Assure the reference that all the
(3) Closing part
Close with expressions like
“thank you for your cooperation” or “look forward to your sincere response”
▶ There should be double space
From: Jo, Heungcheol
To: RosBank
Date: April 3, 2017
Subject: Request for credit information Dear Sir/Madam,
Vashilov Corporation has given your name as a
reference in opening an account with us for
the business of vacuum cleaners. We believe that
our business relations with them will largely
depend on their credit standing and reputation Therefore, we would appreciate your
information about your experience with them and their financial capacity as well as an
reliability. All information you may provide
for us will be held in strict confidence.
Thank you very much for your cooperation.
Best regards,
Jo, Heungcheol, overseas sales team
Hanguk Electronics Corp.
33, Geumsam-Ro, 5 Gil, Geumjeong-Gu
Busan, South Korea
Items to be mentioned in offer
commodity description/ specifications
price / currency quantity amount terms of payment packing shipment inspection validity(有效期間)
Firm offer(確定 offer) is usual.
Firm Offer
Free Offer
Counter Offer Conditional Offer
- binding an offeree to accept the offer within a specified period
- validity (有效期間) is stated
- an offeree must reply to an offeror within the period
- not binding an offeree to accept the offer within a specified period
- an offeror merely states the terms and conditions on which he sells certain
merchandise
- a proposal against a firm offer
- an offeree can set forth revised terms to an offeror
■ Offer subject to market fluctuation
- offer made when the market is expected to fluctuate
- an offeror does not bind himself to accept an offeree’s order at the said
Including offer in a reply email
• Including quotation in a reply to
inquiry from a prospect
Drawing up an offer sheet and attach it to a reply email
(1) Introductory part
- Thank a prospect for inquiry
- State the type of offer and validity
(2) Main part
•
State the specific terms and conditionsof offer including price, amount, quantity, etc.
(3) Closing part
Close by saying “looking forward to your acceptance”, “looking forward to your order” etc.
(1) Introductory part
- Thank the exporter for presenting offer
(2) Main part
•
State the contents of offer•
Explain the reason for counteroffer
(3) Closing part
Close by saying “looking forward to your early reply”
From: Alexander Sergei
To: Jo, Heungcheol
Date: April 3, 2017
Subject: Request for price discount Dear Mr. Jo,
We received with thanks your firm offer of March 27, 2017, for vacuum cleaners.
As a result of our examination of your offer, we would like you to give us discount of 3% off
the price. You must remember that competition in this line is very keen and that your
competitors are offering lower prices than
yours. If you accept 3% discount, we are sure that we order your products soon.
Thank you very much for your attention and look forward to your early reply.
Best regards,
Alexander Sergei, overseas sales team Vashilov Corporation
(his company address)
(his contact information)
,
Negotiations can be made several times until the two parties reach a final agreement.
Making sales contract Acceptance
Counteroffer Offer
(1) Introductory part
- Thank the importer for presenting counteroffer
(2) Main part
•
State your intention to accept thecounteroffer
(3) Closing part
Close by saying “looking forward to your early reply”