Appreciable customer service is a part of the shipping industry as the exporters, importers and shippers work in coordination with one another. The shipping process starts with the importers making an inquiry and the exporters responding to it with an “export quotation”. This quotation plays a very crucial role in the commencement of the shipping contract as it serves as a formal statement to the importer. In the official terms, we call it the “Proforma invoice”. If you are new to the shipping industry and you have been wondering how to prepare the most impressive export quotation, there are a few things you should know.
You should know all the tricks and prerequisites to develop a perfect Proforma invoice so that you can serve the best that you can! The comprehensive export quotation must have a balance of all the required elements. Let us have a look at all the things you must keep in mind before preparing the quote for your customers.
Elements of The Export Quotation
The export quotation directly affects your customer’s choice and decision-making process. You must send a standard checklist to the importers that would be enough for them to identify the required information. Let us have a look at all the necessary elements and details that you have to include in the export quotation.
- You should include the name, contact information, address and tax identification number (if possible) of the seller in the quotation. This information will help your customer identify his service provider in a better way.
- The time (when) and the place (where) you have received the merchandise. It is also important for making an acutely specified quotation.
- The full name of the buyer, his address, contact information, and the tax identification number is what you will need to mention as well.
- The “ship to party’s” full name and address are also valuable in the proforma invoice. You should collect all the basic information beforehand to avoid the last-minute hassle.
- The detailed and precise description of the merchandise including HSN (Harmonised System Number), quality or grade, the popular or market name of the item, numbers, and symbols of the merchandise, country of origin of the goods, currency, quantity, and price per unit. All this information must be accurate and true to your knowledge.
- Mention the name of the country where you will dispatch the shipment.
- You must also include the relevant trade terms and currently active incoterms. Use it as per the contract you are willing to make with the importer.
- Enlist all the goods and services that are included in the merchandise. You must not add any false description here just to uplift the standards of the deal.
- Discuss and mention all the additional information that the importer expects to know in a formal letter. You can also add the methods of payment, relevant law, the expiry date of the export quotation, etc.
Considerations Before Setting the Price
The price is the most vital consideration of the export quotation as that is what concerns importers the most. You must:
- Check the prevailing market rates of the merchandise and offer the price that is the average of all.
- If you are offering any after-sales service on additional payments, you must mention it clearly and separately.
- Do not keep any information hidden from the importer. Specify the presumed relationship between the quality and price of the goods.
The export quotation will influence the importer to make his decision and finalise the deal. Verbal agreements and the brand name of your company are secondary concerns for your buyer. Therefore, you should be well-trained and informed about all the nitty-gritty of preparing the Proforma invoice. Make an impressive quotation to get positive results!