Archive | Contract Management

Monitoring: Meaning and Items | Contract Management

After reading this article you will learn about the meaning and items of monitoring for the contract. Meaning of Monitoring: Though it is essential for the exporters but it is equally important for the importers as well. The exporter can monitor the various activities which collectively result in the delivery of the goods to the […]

Contract: Type and Formations | International Business

After reading this article you will learn about:- 1. Meaning of Contract 2. Types of Contracts 3. Formations 4. Parties 5. Basic Elements. Meaning of Contract: A contract is the result of inquiry, offer and negotiations process. It is a piece of duly signed document, which contains the negotiated and agreed detailed terms and conditions […]

Top 11 Elements of a Contract | International Business

This article throws light upon the top eleven elements of a contract. The elements are: 1. Item 2. Specifications 3. Dimensions and Tolerances 4. End Usage 5. Quantity 6. Quality 7. Delivery 8. Currency 9. Price 10. Payment 11. Packing. Element # 1. Item: This refers to the product name both the commercial and technical. […]

Pre-Shipment Inspection Agencies Structure (With Diagram)

Pre-Shipment Inspection & Quality Control: Important Abbreviations: (i) AWB: Airway Bill. (ii) B/L: Bill of Lading. (iii) CRF: Clean Report of Findings. (iv) FCL: Full Container Load. (v) LCL: Less than Container Load. (vi) NNRF: Non-Negotiable Report of Findings. (vii) RFI: Request for Inspection. (viii) SGS: Society General de Surveillance. (ix) QC: Quality Control. (x) […]

How to Make an Offer? | Contract Management

The following article will guide you about how to make an offer for your willingness to supply required material/service to the inquirer. Introduction to Offer: This activity follows at the receiver’s end (exporter/supplier) when the inquiry has been received. The response to an inquiry is an offer provided the exporter requires no clarifications. An offer […]

Inquiry: Meaning and Essential Parts | Contract Management

After reading this article you will learn about:- 1. Meaning of Inquiry 2. Essential Parts of an Inquiry 3. Types of Inquiries 4. Delivery of the Inquiry. Meaning of Inquiry: “Inquiry” is an indicator of potential business to the vendors and they spend time and money in making an offer to you. So please understand […]