S2 Commerce Notes: Agents, Middlemen and Documents Used in Home Trade

These Senior 2 Commerce notes explain what agents are and describe the main types: brokers, factors, del credere agents, auctioneers, import and export agents, and forwarding agents. They compare brokers with factors and cover the functions and drawbacks of middlemen. The notes also explain when a wholesaler may be cut out of the distribution chain and list common problems traders face in home trade. A set of revision questions follows. The notes then work through the steps of a commercial transaction, from inquiry and quotation to orders, credit checks, despatch notes, delivery notes and invoices. Each document is shown with a sample.