The execution (implementation) of any foreign trade transaction consists of the following main stages:
1. Preparation for the conclusion of the contract.
2. Conclusion of the contract on certain conditions.
3. Execution of the contract: preparation of the goods for delivery, delivery of the goods to the buyer, acceptance of the goods and settlements for the goods.
The most important part of a foreign trade transaction is the stage of preparation for the conclusion of the contract. This stage includes the search and selection of a suitable counterparty partner, establishing contacts with potential sellers or buyers, conducting preliminary negotiations.
Having identified possible counterparties, the exporter or importer proceeds to establish contacts with them.
In the process of preparing a foreign trade transaction, various ways of establishing contacts with potential counterparties can be used: an advertising campaign in the media, sending catalogs, prospectuses, commercial offers, etc. to potential buyers.
However, the most important in the practice of international trade are the ways of establishing contacts with potential partners on the basis of direct ties. Partners can choose one of the following options:
send a commercial offer (offer) directly to one or more possible buyers; accept and confirm the buyer’s order; send a commercial offer to the buyer in response to his request indicating the specific terms of the future contract; to participate in the tender by submitting a tender to the organizers of the tender; send a business letter to a potential buyer with information about the intentions to enter into negotiations on the conclusion of a specific transaction; send the proforma of the contract to the already known buyer as a result of agreeing on the terms of the contract by telephone, teletype, telex, e-mail or on the basis of previous agreements.
Let us consider in more detail the main ways of establishing contacts with foreign partners.