LP 15 Sales AND Credit Letter PDF

Preview

Summary

• Understand the meaning of tenses
• Able to understand the rules of tenses...

Description

CLASS NOTES FORMAT Lesson Plan No: 15 Name of Teacher / Designation

: Mrs. Ruchi Arora /Assistant Professor

Subject Code / Subject

:SLPC1012

Course / Branch

:

UNIT /Topics

: III/ SALES AND CREDIT LETTER

Duration

: 00:50Hours.

Resources required handling the class: Visuals _______________________________________________________________ STEP 1: INTRODUCTION Learning Objectives After the session, the student should be able to: 

Understand about the meaning of tenses



Able to understand about the rules of tenses

STEP 2: ACQUISITION .

Objectives of Sales Letter

 A sales letter aims at reaching the reader to purchase the product.  Introduction and marketing of new products and services.  To reach potential customers.  Expansion of the market. Advantages of Sales Letter

 A sales letter is less expensive.  Reach a client where a salesman cannot.  Reach a number of clients all at the same time.  Ease of understanding and availability of full details.  More convenient, efficient, and comprehensive. Page 1 of 6

Elements and Format of Sales Letter Elements of Sales Letter

Headline: Here the writer wants to grab the reader’s attention toward the main purpose of the letter. Introduction: It is the introductory paragraph. Introduction in the sales letter provides the details of the product or the service. It also provides the reader with the cost, quality, saving and other related information. Body: Here the writer builds his credibility. The writers provide with the worth of the product, its difference from other similar products, a list of satisfied customers, terms of contract etc. Call to Action: In this section, the writer asks for the reader’s response and can express the gratitude. It also includes various details like warranty, discount etc.

Page 2 of 6

Format of Sales Letter

Writing Tips for Writing Sales Letter  Introduce the ideas in a way that compels the reader to take a positive action.  Introduce yourself and the product well.  Be clear in what you are offering.  Choose your words as per the targeted audience.  Always use a headline.  Make the first sentence of each paragraph count.  Use of font styles, font sizes, bullets, and numbering etc. Page 3 of 6

 Use relevant statement showing the credibility of the product.  Suitable closing sentences.  Correct use of salutation.  Proper and complete details of the product and availability.  Always ask for attention, build interest, desire, and call of action.  Have a simple and convincing tone.  Avoid creating confusion and uncertainty.  Avoid being clever and funny.  Include your name, signature, and other contact details.  Do not use fancy words or slangs.  Always revise and edit the letter. What Is a Letter of Credit? A letter of credit, or "credit letter" is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. It may be offered as a facility. Due to the nature of international dealings, including factors such as distance, differing laws in each country, and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade. KEY TAKEAWAYS

 A letter of credit is a document sent from a bank or financial institute that guarantees that a seller will receive a buyer's payment on time and for the full amount.  Letters of credit are often used within the international trade industry.  There are many different letters of credit including one called a revolving letter of credit.  Banks collect a fee for issuing a letter of credit. How a Letter of Credit Works Because a letter of credit is typically a negotiable instrument, the issuing bank pays the beneficiary or any bank nominated by the beneficiary. If a Page 4 of 6

letter of credit is transferable, the beneficiary may assign another entity, such as a corporate parent or a third party, the right to draw. Banks typically require a pledge of securities or cash as collateral for issuing a letter of credit. Banks also collect a fee for service, typically a percentage of the size of the letter of credit. The International Chamber of Commerce Uniform Customs and Practice for Documentary Credits oversees letters of credit used in international transactions. There are several types of letters of credit available. Types of Letters of Credit Commercial Letter of Credit

This is a direct payment method in which the issuing bank makes the payments to the beneficiary. In contrast, a standby letter of credit is a secondary payment method in which the bank pays the beneficiary only when the holder cannot. Revolving Letter of Credit

This kind of letter allows a customer to make any number of draws within a certain limit during a specific time period. Traveler's Letter of Credit

For those going abroad, this letter will guarantee that issuing banks will honor drafts made at certain foreign banks. Confirmed Letter of Credit

A confirmed letter of credit involves a bank other than the issuing bank guaranteeing the letter of credit. The second bank is the confirming bank, typically the seller’s bank. The confirming bank ensures payment under the letter of credit if the holder and the issuing bank default. The issuing bank in international transactions typically requests this arrangement. An Example of a Letter of Credit Citibank offers letters of credit for buyers in Latin America, Africa, Eastern Europe, Asia, and the Middle East who may have difficulty obtaining international credit on their own. Citibank’s letters of credit help exporters minimize the importer’s country risk and the issuing bank’s commercial credit risk.

STEP 3: PRACTICE/TESTING Short Question: Q.1 Define TENSES

Long Questions: Q.1 Explain types of tenses .

Page 5 of 6

STEP 4: REFLECTION Summary: In this lecture I will encourage students to share their ideas and comments about our topic “TENSES”

in general terms, even if they are incorrect and then I will share some

general ideas about types of tenses

Page 6 of 6...