2016 WAEC Commerce Theory Explain the following business documents and state two uses of each: Consignment note; Delivery note;...

Explain the following business documents and state two uses of each:

(a) Consignment Note: It is a contract of carriage of goods between the carrier and the seller in home trade.

Uses:

(b) Delivery Note: It is a document sent by the seller to the buyer to acknowledge the receipt of goods sent.

Uses:

It contains a description of the goods, the address to which it is sent
without price;
Its purpose is to allow the buyer to check the details of the goods on arrival;
It is used as evidence of goods delivered before invoices are issued in credit sales;
It is used when goods are transported by the seller’s vehicles.

Uses:

This is a document used in the shipping of goods;
It serves as evidence of the contract of carriage;
It is the document of title to the goods which enables importers to clear goods at the port;
It gives the details of the goods and their destination;
It serves as an acknowledgment of the goods by the shipowner.

(d) Bills of Sight: It is a document prepared by the importer stating the details of the goods pending the arrival of bill of lading.

Uses:

This is used pending the arrival of the bill of lading that contains details of goods;
It contains details of the cargo to allow the importer to inspect the goods on arrival;
It is used to calculate custom duties.

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