4.3 HANDY MANUAL OF BUSINESS CORRESPONDENCE STEPS OF A BUSINESS TRANSACTION A business transaction Enquiry (buyer) Unsolicited offer (seller) Reply to enquiry (seller) Reply to offer (buyer) Contact phase Quotation or Estimate (seller) Negotiation phase Order (buyer) Contract (buyer + seller) Contractual phase Execution of the order (seller) Fulfilment phase Delivery of the goods Service is provided (seller) Payment (buyer) Completion phase Complaints (buyer) Reminder of payment (seller) Replies to complaints (seller) Reply to reminders (buyer) Extra phases BUSINESS CORRESPONDENCE Unsolicited offer Seller What to do How to do it Introducing the company Describe the services/products your company provides. Introducing the offer Capture the attention of the prospective buyer by pointing out how the products/services can benefit them. Giving details of the offer Provide all the details of the offer, i.e. special price, delivery conditions, expiry date, etc. Closing Express your hope of receiving an order or a reply. Enquiry Buyer 246 Extra What to do How to do it Providing the source of information Say how you learnt about the products/services you are interested in (newspaper, magazine, website, local Chamber of Commerce, etc.). Introducing the company Provide information about your company (size, business field, etc.). Making a request Make a specific request for a catalogue, price list, samples, a quotation, delivery and payment terms, etc. Closing Thank the receiver for their attention and express your hope for a future business relationship.