Portfolio
María Fernanda González Minera Commercial English and Marketing II Ana Lucía Pérez
Commercial
Index • • • • • • • • • • •
Credit Letters Credit Application Credit Inquiry Credit Responses Credit-Granting Credit-Refusing Collection Letters Interoffice Memorandum Minutes Pictionary Exam
Credit Letters
Credit involves purchasing and receiving goods without immediate payment. Buying on credit enables a purchaser to acquire desired merchandise even when cash is not currently. There are five types of credit correspondence:
•Applications for credit •Inquiries about credit •Responses about credit •Letters granting credit •Letters refusing credit
Credit Application Business account applications are more often made by letter. Paragraphs must include: 1.
2. 3.
The reason for writing, ask for credit line. Itemizing our credit references. Ask to receive information about credit terms and if the credit will be granted.
Credit Inquiry • When checking the credit standing of a business, a company may contact references. The letter of credit inquiry is sent. It contains all the credit information known about the applicant. Paragraphs must include: 1. All of the credit applicants information. 2. Details (Specific information) 3. Generate goodwill, offer further assistant.
Credit Responses • Companies that receive large numbers of credit inquiries often use an in house form of responding . This is a way by which they can control the information given out. Most companies, moreover, repeat somewhere in the letter that they expect the provided information to remain confidential.
Credit-Granting • When all credit references are favorable, a letter is sent granting credit to the customer. The acceptance letter: 1. Notifies the customer of the credit approval. 2. Welcomes the customer and expresses appreciation. 3. Explains the credit terms and privileges. 4. Establishes goodwill and encourages further sales.
Credit-Refusing • A letter refusing credit must give the customer a reason, also try to encourage business on a cash basis and it is good idea to suggest that the customer reapply for a credit in the future.
Collection Letters • Written notification of the pending amounts, meant to prod past-due customers to make a payment. Collection letters are sent usually one after another, with the tone and language getting more direct with each successive letter, until at least some payment is received. An effective letter of collection achieves its purpose without destroying the customers' goodwill that was painstakingly acquired over the years.
Interoffice Memorandum • Memorandums, usually called memos, are the form commonly used for short, relatively informal messages between member of the same organization. The tone of memos tends to be more informal than the tone of the other business letters.
Minutes • Permanent, formal, and detailed record of business transacted, and resolutions adopted, at a firm's official meetings such as board of directors, manager's, and annual general meeting .
Marketing
Index • • • • •
Bonds Stocks and Shares Takeovers Pictionary Essay
Bonds • A bond is an instrument of indebtedness of the bond issuer to the holders. It is a debt security, under which the issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay them interest or to repay the principal at a later date, termed the maturity date. Interest is usually payable at fixed intervals: semiannual, annual, sometimes monthly.
Stocks and Shares • Stock is a general term used to describe the ownership certificates of any company, in general, and shares refers to a the ownership certificates of a particular company
Takeovers • Takeover is the purchase of one company by another. If a company is to big to buy, it may be possible to merge with it: T o combine the two companies to from a single new one. A type of corporate action in which an acquiring company makes an offer to the target company's shareholders to buy the target company's shares in order to gain control of the business. Takeover bids can either be friendly or hostile.
Essay
During this learning process of unit three I learned a lot of things that I am sure they would help me during my business life, these topics I learned show me how to deal with a lot of people and the vocabulary I need to use for different aspects. In commercial it is important to know the different types of letters we need to use for different occasions, in the case of unit three that we learn about the different types of credit letters we now know how to ask for references and how to respond them, we also learn about the interoffice memorandum that would help us to communicate with all the personnel in the office, the minutes that are the ones we write after a meeting has conclude. Also in marketing we learn about mergers, takeovers and buyouts that are things that main business do in market. As a conclusion I can say that all of these things are very important for any person in business because with these topics you can achieve any challenge you may have at work or during life.