Q.14. State any three types of price quotations used in internal trade.
Dear student,
Three types of price quotations are:
1. Loco Price Quotation- This is lowest price quotation which includes the price of goods in terms of their cost at the factory of the seller. It excludes any expenses like insurance, freight, etc.
2. Cost and Freight (C & F) Price Quotation- This represents the price of goods inclusive of cost of the goods as well as the expenses incurred by manufacturer such as loading charges and freight.
3. Franco Price Quotation- This represents the price of goods inclusive of all the costs incurred by the manufacturer such as insurance, freight, delivery charges, etc.
Three types of price quotations are:
1. Loco Price Quotation- This is lowest price quotation which includes the price of goods in terms of their cost at the factory of the seller. It excludes any expenses like insurance, freight, etc.
2. Cost and Freight (C & F) Price Quotation- This represents the price of goods inclusive of cost of the goods as well as the expenses incurred by manufacturer such as loading charges and freight.
3. Franco Price Quotation- This represents the price of goods inclusive of all the costs incurred by the manufacturer such as insurance, freight, delivery charges, etc.