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What is a transaction in which a buyer and seller work out their own terms of exchange?
A transaction in which a buyer and seller work out their own terms of exchange is typically referred to as a private or negotiated transaction. In this scenario, both parties discuss and agree on specific terms such as price, quantity, and delivery conditions without external interference. This type of transaction allows for flexibility and customization to meet the unique needs of both the buyer and seller. It is commonly seen in various markets, including real estate, art, and certain goods and services.
What else can I help you with?
Is a real estate contract considered completed after all addendums have been signed?
Not necessarily. It's going to depend on the terms and conditions of both the contract and the addendum. Moreover, completion doesn't actually occur until the transaction "closes" and title is transferred from the seller to the buyer.
What does Contingent with No Kick Out mean in Real Estate Terms?
Contingent with no kick out means the contingency is in favor of the buyer. Even if another buyer shows up the seller will have to wait for the contingency to run its course until the seller could sell the house to the second buyer. Usually it runs for a specific time to allow the buyer to get his relocation package or confirmation of job transfer into place. This is usually only used if the seller is very sure of the buyer qualifying to purchase.
What does Ex Work mean in shipping terms?
A trade term requiring the seller to deliver goods at his or her own place of business. All other transportation costs and risks are assumed by the buyer.
What is the opposite of Salesman?
Buyer if you mean in terms of the action they performSaleswoman if you mean the opposite in terms of gender/female version
What is mns2 payment terms?
From a GM related company... "The payment date is set forth in the Line Item Detail of this contract, or if not stated, shall be the date established by Buyer's Multilateral Netting System (MNS-2), which provides, on average, that payment shall be made on the second day of the second month following, in the case of the Buyer's North American facilities, Seller's shipment date of goods or date of services, and, for all of Buyer's other locations, Buyer's receipt date of the goods or date of services."
What is invoice receipt?
An invoice or bill is a commercial document issued by a seller to a buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided the buyer. An invoice indicates the sale transaction only. Payment terms are independent of the invoice and are negotiated by the buyer and the seller. Payment terms are usually included on the invoice. The buyer could have already paid for the products or services listed on the invoice. Buyer can also have a maximum number of days in which to pay for these goods and is sometimes offered a discount if paid before the due date
In economic terms what does market mean?
the coming together of a buyer and seller
What is the arrangement between buyer and seller as to when payments for merchandise are to be made?
Credit Terms
What do FCO and ICPO in terms of international trading mean?
FULL CORPORATE OFFER TO: I, _______________________________, with full legal and corporate responsibility, and under penalty of perjury, with full knowledge of the act of fraud; and as the Seller am ready, willing and able to deliver the herein offered Goods under the following terms and conditions: Commodity: Form: Quantity: Origin: Price: Discount: Payment: Delivery Terms: FCO must be signed and sealed by the seller/seller's mandate ONLY. A FCO issued by seller or seller's mandate must have a letter stating that they have the authority to sell on behalf of the principal, and must be signed and witnessed by a public notary. 2. The Buyer/Buyer's Mandate submits a letter of intent/LOI (RWA/RWAD) and a contract. 3. The Seller/Seller's Mandate responds with the signed and sealed contract with full banking coordinates. 4. The Buyer/Buyer's Mandate signs the contract, and accepts the invitation of the Seller. The Buyer/Buyer's Mandate sends a hard copy of the contract/agreement signed by both Buyer and Seller with full banking coordinates. 5. Upon receipt of the proof of existence of goods and the certificate of authority to sell, the Buyer will instruct confirm the availability of funds to be used as payment. 6. The Buyer and the Seller agree on a window time for exchange. Dated ____________; X______________________________________ Seller Print Name:
The arrangements between buyer and seller as to when payments for merchandise are to be made are called?
credit terms
When arrangements between buyer and seller as to payments for merchandise are to be made are called?
credit terms
What does FCA mean in shipping terms?
FCA - FREE CARRIER (... named place of delivery) The Seller delivers the goods, cleared for export, to the carrier selected by the Buyer. The Seller loads the goods if the carrier pickup is at the Seller's premises. From that point, the Buyer bears the costs and risks of moving the goods to destination.
Is the seller responsible for a lost package?
In general, the seller is responsible for a lost package until it is delivered to the buyer. After delivery, responsibility may shift to the buyer or the shipping carrier, depending on the terms of the sale.
What is the procedure for Letter Of Credit?
Our streamlined procedure ensures quick turnaround for your Letter of Credit needs:An international buyer and seller agree to a trade/transaction. In order to minimize any financial risks, the exporter (seller) requests that the importer (buyer) provide payment with a Letter of Credit.The buyer submit a request to their bank for a Letter of Credit to the seller's domestic bank.The product is packaged and shipped across international lines to the importer.The Letter of Credit documents are sent to an advising bank. The advising bank reviews the documentation for any discrepancies and issues; if a problem is found, the documents are returned to the exporter for correction. Documents can be resubmitted until they are compliant with the terms of the Letter of Credit.Once the Letters of Credit are deemed compliant, the documents are forwarded to the buyer's bank. The bank confirms that the shipment was received.The importer's bank analyzes the transaction to confirm that all terms were completed. Upon confirmation, the buyer's bank send payment to the seller's bank.With everything confirmed and completed, funds are forwarded to the seller.
What determines the risk shared between the buyer and the seller?
In the United States: The terms of the contract and state laws.
What recourse does seller have if buyer defaults contract?
You should review the terms set forth in the contract to determine your rights. Generally the deposit is forfeited when the buyer defaults.
How does the process of "for sale by owner" work for the buyer?
When a buyer purchases a property listed as "for sale by owner," they directly negotiate and deal with the property owner without involving a real estate agent. The buyer and seller work together to agree on the terms of the sale, including the price, closing date, and any other conditions. The buyer may still choose to hire a real estate attorney to help with the legal aspects of the transaction.
