Commission paid by the seller in a transaction to the broker who arranged the sale, based upon some percentage of the selling price. A brokerage allowance usually refers only to transactions in which the broker does not take possession of the goods sold.
A cashier is a person in a business who accepts payment in money and credit sales, provides change as needed, and records the transaction, generally assisted by a cash register.
Caveat Emptor, a Latin term meaning 'Let the Buyer Beware,' is a doctrine of law indicating that the buyer assumes the risk in a transaction. Although traditionally buyers were solely responsible for due diligence, modern legal frameworks have incorporated requirements for sellers to disclose known defects.
Consignment involves the shipment of goods by a principal (consignor) to an agent (consignee) for sale. The consignee sells the goods on behalf of the consignor, often earning a commission upon sale. The process typically involves creating a detailed consignment account.
An estimate or 'sample invoice' provided by a seller to a buyer in certain circumstances, serving as a preliminary bill of sale before the details are finalized, often used in international trade and shipments.
A preliminary sum that represents the total of a set of numbers before any additional amounts, such as taxes or discounts, are included.
