Essential Business Terminology and Communication Samples
Understanding Educational & Professional Qualifications
This section clarifies common terms related to academic and professional achievements.
- Qualification: A certification obtained by passing exams or completing a course, demonstrating a specific level of skill or knowledge in a subject or field of study (e.g., university qualifications).
- To Qualify: To meet the required standard of ability or knowledge for a particular job, for example, by completing a degree course. (e.g., He qualified as an economist last term.)
- To Be Qualified: Describes a person who has passed the necessary exams or completed the required training for a specific job (e.g., a qualified accountant/teacher).
- Degree: A qualification awarded to students who successfully complete a university or college course.
- To Graduate: To obtain a degree (especially a first degree) from a university or college (e.g., to graduate/to have a degree in Business Administration).
- A Graduate: A person who holds a university degree (e.g., a graduate in Business Administration).
- An Undergraduate: A student pursuing a first degree course.
Professional Training & Development
Key terms related to skill development and practical experience.
- Training: Instruction in particular skills.
- Work Placement: A probationary period of on-the-job training for students or newly qualified individuals, typically under the guidance of experts. The position may be paid or unpaid (also known as an internship).
- Graduate Training Scheme: A structured training program designed for university graduates (e.g., to join a training/trainee scheme).
- In-house Training: Training provided to staff at their place of work.
Key Business Communication Documents
Understanding essential documents used in business transactions.
- Enquiry: Typically a letter or email sent by a potential buyer to one or several firms, seeking information about available products or services.
- Quotation: An offer made by a seller to supply specific products or services at a stated price.
- Acknowledgement: An email or document confirming that the supplier has received a purchase order (P.O.).
- Advice Note: A document or email from the supplier informing the buyer that an order has already been dispatched.
Sample Supplier Response to an Enquiry
This example demonstrates a typical response from a supplier to a customer’s request for information.
[Date of original enquiry: December 12]
1) Thank you for your enquiry of 12 December, requesting information about dinner and tea services.
2) We are attaching the catalogue and pricelist you requested. You will see that we can offer a wide selection of dinner and tea services, ranging from the rugged earthenware breakfast sets to the “Manises” bone china dinner service. You can choose from more than fifty designs, which include the elegance of “L” and the richness of Talavera colours. We would be pleased to add you to our list of customers throughout the world and can promise an excellent product with first-class service. We would be glad to accept orders for any number of pieces, and can mix sets if required. You will see that our prices are quoted FOB Barcelona Seaport, and we are offering a special 10% discount off all net prices, with delivery within three weeks from receipt of order.
Essential Shipping & Billing Documents
Crucial documents involved in the delivery and payment process.
- Delivery Note: A document signed by the buyer confirming that the consignment has been delivered.
- Invoice: A document sent by a seller to a customer detailing goods and services provided, their price, and the payment due date.
Common Incoterms Explained
International Commercial Terms (Incoterms) define responsibilities for buyers and sellers in international trade.
- EXW (Ex Works): The seller makes the goods available at their premises; the buyer bears all costs and risks from that point.
- FCA (Free Carrier): The seller delivers the goods to a carrier or another person nominated by the buyer at the seller’s premises or another named place.
- FAS (Free Alongside Ship): The seller delivers when the goods are placed alongside the vessel nominated by the buyer at the named port of shipment.
- FOB (Free On Board): The seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment.
- CFR (Cost and Freight): The seller delivers the goods on board the vessel; the seller pays the costs and freight to bring the goods to the named port of destination.
- CIF (Cost, Insurance and Freight): The seller delivers the goods on board the vessel; the seller pays the costs and freight to bring the goods to the named port of destination and also procures marine insurance against the buyer’s risk of loss or damage during carriage.
- DDP (Delivered Duty Paid): The seller delivers the goods, cleared for import, to the buyer’s premises at the named place of destination. The seller bears all costs and risks involved in bringing the goods to the destination, including duties and taxes.
Key Business & Economic Acronyms
A list of important abbreviations frequently used in business and economics.
- GATT: General Agreement on Tariffs and Trade
- ECB: European Central Bank
- CDO: Collateralized Debt Obligation
- EEC: European Economic Community
- BIC: Bank Identifier Code
- ISA: Individual Savings Account
- L/C: Letter of Credit
- SWOT: Strengths, Weaknesses, Opportunities, Threats
- CEO: Chief Executive Officer
- CFO: Chief Financial Officer
- IMF: International Monetary Fund
- CPI: Consumer Price Index
- PIT: Personal Income Tax
- VAT: Value Added Tax
- B/E: Bill of Exchange
- OECD: Organization for Economic Co-operation and Development
- WTO: World Trade Organization
- NATO: North Atlantic Treaty Organization
- GDP: Gross Domestic Product
- AER: Annual Equivalent Rate
- NPV: Net Present Value
- SIV: Structured Investment Vehicle
Useful Business Vocabulary & Connectors
Common English and Spanish business terms and connecting words.
- However (sin embargo)
- Although (aunque)
- Therefore (por lo tanto)
- Whereas (considerando)
- Seller (buyer)
- Creditor (debtor)
- Customer (supplier)
Sample Buyer’s Business Enquiry Letter
An example of a formal letter from a buyer requesting information from a potential supplier.
[Date]
Dear Sir/Madam,
a) We saw the selection of sweaters displayed on your stand at the Menswear Exhibition held in Paris last month.
b) We are a large chain of retailers seeking a manufacturer capable of supplying a wide range of sweaters for the teenage market.
c) As we typically place very large orders, we would expect a quantity discount in addition to a 20% trade discount off net list prices. If these conditions are of interest, and you can fulfill orders of over 500 garments at one time, please send us your current catalogue and pricelist, quoting prices DDP New York, our premises. We would also appreciate information on your delivery periods for such large orders and the payment terms you offer.
d) We hope to hear from you soon.
Yours faithfully,
Jack Hyam
Professional Letter Closing
A standard professional closing for business correspondence.
3) If there is any further information you require, please contact us, and once again thank you for your letter.
Yours sincerely,
Sandra González
Sales Manager