Export Readiness:
Costing, Financial Forecasting and Product Pricing
Section 3 Part 6
Methods of International Pricing
Worksheet Setting Your Price
Setting Terms of Sale
Price Quotations
The pro forma invoice is the most commonly used document to give price quotations to potential customers. If you and your buyer are in agreement, it is usually considered a binding sales contract, although prices may change prior to final sale.
- To prepare the invoice, you should give a detailed description of the product and an itemized list of fees and terms of sale.
- Prices should be quoted in U.S. dollars to reduce foreign exchange risks.
- The invoice also should indicate the period during which the price quotation is valid, the terms and method of payment, and delivery terms.
You should be familiar with the common terms of sale used in international trade before preparing your pro forma invoice. International Commercial Terms (INCOTERMS) are universally recognized in export and import contracts. These terms refer to the rights and obligations of each party, such as who pays ...
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INCOTERMS® — International Commercial Terms — are three-letter trade termsdeveloped by International Chamber of Commerce and widely used in internationaland domestic contracts for the sale of goods. They're accepted by governments and shippers worldwide, and are used to prevent uncertainty or misunderstandings.
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