>Invitation to Bid
 An invitation to bid is a document used by contractors, suppliers, and
buyers. The purpose is to invite others to bid on a particular project. It can be
used to request bids for services, products, or even to complete an entire
project. An invitation to bid should include a deadline by which those
interested should submit their bid. This document is also known as a request
for quote or a request for quotation. Sending out an invitation to bid can be
helpful, but it does not create a legal relationship between the parties to
provide goods, services, or to complete a project.
An Invitation to Bid (ITB) or Invitation for Bid (IFB) is a call for contractors
to submit a proposal for a specific product or service that an organization knows
it wants/needs. While it’s related to a Request for Proposal (RFP), an ITB is
usually more price-focused and typically involves a more streamlined bidding
process.
Issuing an IFB allows a company to provide detailed written specifications,
including all the terms and necessary conditions for work on the specific project
it wants to contract out. Companies may deliver invitations to bid orally or in
writing.
If not stated otherwise, the contractor or supplier with the lowest bid is
awarded the contract, if they meet the minimum criteria for the bid. This
contrasts with a request for proposal, in which case other reasons might cause or
allow choice of the second-best offer. An RFP is a request for a price from a buyer,
but the buyer would also expect suggestions and ideas on how the project work
should be done. RFPs are thus focused on more than just pricing/cost, they entail
a bit of consulting from the contractor or vendor.
The purpose of an invitation to bid is to provide standardized information
to all bidders, fostering a truly competitive process. This is achieved using sealed
bidding procedures. Contractors will submit their price in sealed envelopes which
are publicly opened to maintain transparency.
>Purchase Orders
 The PO lists the date of the order, FOB shipping information, discount
terms, names of the buyer and seller, description of the goods being
purchased, item number, price, quantity, and the PO number.
The PO number is a unique number associated with a certain order. It serves two
purposes. One is to ensure that the goods ordered match the ones that are
received. Secondly, the PO number is matched to the invoice to make sure the
buyer is charged the right amount for the goods.
A purchase order, or PO, is an official document issued by a buyer
committing to pay the seller for the sale of specific products or services to be
delivered in the future.
The advantage to the buyer is the ability to place an order without
immediate payment. From the seller’s perspective, a PO is a way to offer buyers
credit without risk, since the buyer is obligated to pay once the products or
services have been delivered.
Among other things, a PO specifies:

Quantity purchased
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Product or service being purchased

Specific brand names, SKUs, or model numbers
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Price per unit
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Delivery date
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Delivery location
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Billing address
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Payment terms, such as on delivery or in 30 days
How is a Purchase Order Used?
A PO simplifies the purchase process, which typically looks like this:

Buyer decides to purchase a product or service for their business

The company issues a PO to the seller, often electronically using
a purchase order template.

The seller receives the PO and confirms the company can fill the order

If not, the seller tells the buyer the order cannot be completed, and the
PO is cancelled

If the order can be filled, the seller begins preparing the order by pulling
the inventory together or scheduling necessary personnel

The order is shipped, or service provided, with the PO number on the
packing list so the buyer knows which order has arrived

The seller invoices for the order, using the PO number so that it can
easily be matched with the delivery information

The buyer pays the invoice according to the terms laid out in the PO
Purchase Order Pros and Cons
There are many reasons to use POs, the most important of which are:

Improved accuracy, in both inventory and financial management

Better budgeting, since funds need to be available before a PO is issued

Faster delivery, since POs help schedule delivery when the buyer needs it
As far as disadvantages go, there are few:

More unnecessary paperwork for smaller purchases

Credit cards can serve the same purpose from a financial perspective
>Broadcast Orders
Broadcast Orders are like Purchase Orders used to place orders to Stations
for broadcasting. Broadcast Orders are entered by spots for each ad, either on a
weekly, daily or summary basis using the gross amount and a commission
percentage to determine the net amount. Broadcast orders also allow you to
track user definable dates on each line item of the order.

Each Broadcast order must be approved before it is sent to a
vendor/station. If you print an unapproved Broadcast Order, the system
will place an unapproved watermark across the page.

Each user is assigned a specific ordering limit which allows them to
approve Broadcast Orders under that dollar amount. If you're purchasing
limit is zero, you will not be able to approve any Broadcast orders.

As you enter line items onto a Broadcast Order, the system will try and
determine if you have the right to approve the Broadcast Order and that
dollar limit. If you do not have the right, the system will use the default
approver from the transaction preferences screen. If this person has an
approval limit greater than the amount of the Broadcast Order, the
system will automatically assign them as the approver. If this person or
the person entering the Broadcast Order does not have sufficient limits
to approve the Broadcast order, the Broadcast order will be assigned to
no one.

When a Broadcast order is assigned to no one for approval, anyone in
the company with approval limit above that of the Broadcast order will
be able to approve it. When the Broadcast order is set for approval,
everyone with that approval limit will receive an email.

Once the Broadcast order is approved, the person entering a
Broadcast order will receive an email back.

Once a Broadcast order is approved, you cannot edit it. If you need to
edit the Broadcast order, you will need to unapproved the
Broadcast order. Doing so will increase the revision number on the
Broadcast order. Once you have completed the revision of a
Broadcast order, you will need to either approve it or resubmit it for
approval.
A vendor invoice can only be applied against approved Broadcast orders.
Once a vendor invoice is linked to the Broadcast order, you will not be
able to unapproved the Broadcast order. The vendor Invoices tab shows
a list of the vendor invoices that have been applied to this
Broadcast order.

>Collection Letters
A collection letter is a written notification to inform a consumer of his due
payments. It is an official message to a borrower. A collection letter may include
reminders, inquiries, warnings, or notification of possible legal actions. Although a
collection letter is a firm notice to a borrower, it must be written in a polite way.
One should not use slang, offensive, and abusive words.
Characteristics of Collection Letter

The reason or the objective of writing a collection letter.

Reference of the previous letters (if any).

Name of the creditor or the company issuing loans.

Name of the lender.

Full debt amount.

Additional costs or terms.

Last deadline for the payment of the debt.

Inquiry about the delay.

In the case of many reminders, one should include a list of possible legal
actions in the letter.
Types of Collection Letter
A collection letter is broadly classified into three categories. They are
1. General Reminders.
2. Inquiry letters.
3. Official collections letters.
Reminder Collection Letter
It is written with an assumption that customer forgets to make the payment.
General assumptions like money problems or medical issues are made. Always use a
friendly manner to write it.
Inquiry Collection Letter
As the name suggests, the main purpose of this type of letter is to make an
inquiry. The writer wants to inquire about the reasons for the delay of the
payments. Here, the writer asks for the keenness to help the customer. One can
give the choice of partial payments here. It helps to maintain a good relationship
with the customer.
Appeal collection Letter
A writer writes this letter when the borrower is not responding to any of the
previous remainders. Here, the writer uses an aggressive approach without being
rude. One needs to maintain fairness.
Ultimatum Collection Letter
Here the writer mentions the action which can be taken in case of failure of
payment of the loan. One uses the logical and fair statements. Various punishments
like debarring from further business, legal actions are stated in this letter.
>Adjustment Letters
An adjustment letter or a claim adjustment letter is a written response
from a representative of a business or agency to a customer's claim letter. It
explains how a problem with a product or service may (or may not) be resolved.
Adjustment letter is the reply letter referencing a corrective action to the
buyer’s complaint or claim. In other words, when seller or delivery authorities
write the letter in response to the complaint or claim letter regarding any
defective product of the buyer is known as claim adjustment letter. This letter
informs the customer either acceptance or rejection of their complaints and
claims. Acceptance of the claims may take different forms such as simply
admittance of mistake or taking positive actions which can include the payment
of compensation. Adjustment notice or reply to complaint letter plays a vital role
in enhancing the goodwill of a company and maintaining relationships with the
customers.
A letter written in response to the complaint of the customer is called
an adjustment letter. It is written when a seller or delivery authorities write back
to the customer in regard to their complaint. The official in format, it is used to
explain what is the nature and urgency of the customer’s complaint and how it can
be resolved by the company. The letter informs the customer whether his/her
complaint has been accepted or been rejected, also the refund amount he/she is
eligible for and how to obtain it. These letters deal with all kinds of complaints
such as defective goods, service is poor, shipment issues, and product undelivered
or not delivered on time, etc. These letters are known as adjustment letters
because their main purpose is to resolve a conflict between customer and seller.
How to write an adjustment letter?
There are many points to be taken into consideration while writing an adjustment
letter.
1. Organize material – all the previous correspondence between client
and seller, his complaint copy, company policies regarding the
complaint featured, any other relevant document, etc. should be first
obtained and organized by the writer.
2. Admittance of mistake – if your company is at fault, immediately
accept the mistake and proceed to rectify the mistake. The customer
demands, if rational, should be completed.
3. Positive reply – sympathize with your client, listen to his/her woes,
and maintain a positive tone and attitude towards the client to ensure
the satisfaction of the customer.
4. Diplomacy – when the client is not right, and his demands are not
justifiable, then the sellers need to be diplomatic so that even after
refusal, your client remains satisfied. Explain the policy of the
company and terms in layman language so the customer can easily
understand your terms and conditions. Talk politely and don’t refuse
bluntly or rudely.
5. Politeness – Politeness as a virtue is encouraged by all the customer
care services. Even when your client is at fault, you need to satisfy him
while also maintaining your stance. In this respect, politeness comes
in handy. A polite reply goes a long way in promoting the company’s
reputation and name.
6. Letter Head – Adjustment letters and claim letters should be officially
endorsed by the company such that they should have letterhead on
top.
7. Proofreading – Always proofread the letter, so save your company
embarrassment in front of the client. Facts should be checked and
correlated with the system properly.
>Cost Estimates
A cost estimate is the service provider’s approximation of what the job is
likely to cost.
The purpose of cost estimation is to predict the quantity, cost, and price of
the resources required to complete a job within the project scope. Cost
estimates are used to bid on new business from prospective clients and to inform
your job and budget planning process.
Cost estimation is done by breaking the scope of the project down into
manageable parts and using all information available (previous experience, similar
jobs, expertise in the industry) to arrive at a total expected cost.
Using software (such as a job management system) to manage and track
your projects enables you to automatically collect data as you complete work,
which you can use to accurately estimate future jobs. For example, tracking
employee time with time tracking software gives you precise information about
how long employees take to complete specific tasks, so you’re able to estimate
those tasks in the next job more reliably.
Estimating is done at the beginning of new projects to arrive at an original cost
estimate but should be frequently reviewed and updated as new information
becomes available or conditions change.
A price estimate letter is a professional business document that a company
provides to potential clients or customers, listing the estimated price of goods or
services. It typically includes specifics, like a product name, style, model number or
color, along with the specific quantity and price offered. If a price estimate is only
good for a specific length of time, like a one-month promotion or sale, that
information also gets included. It's important to note, price estimates are rarely
binding, especially because it's an estimated guess at the cost and doesn't include
unforeseen elements.
>Letters of Intent
A letter of intent (LOI) is a document declaring the preliminary
commitment of one party to do business with another. The letter outlines the
chief terms of a prospective deal. Commonly used in major business transactions,
LOIs are similar in content to term sheets. One major difference between the
two, though, is that LOIs are presented in letter formats, while term sheets are
listicle in nature.
Purpose of a Letter of Intent (LOI)
Letters of intent may be used by different parties for many purposes.
Parties can use an LOI to outline some of the basic, fundamental terms of an
agreement before they negotiate and finalize all the fine points and details.
Furthermore, the LOI may be used to signal that two parties are negotiating a
deal such as a merger or joint venture (JV).
Overall, LOIs aim to achieve the following:

Clarify which key points of a deal must be negotiated.

Protect all parties involved in the deal.

Announce the nature of the deal, such as a joint venture or
a merger between two companies.

To play off the name, a letter of intent (also sometimes called a letter of
interest) is about stating your intentions to work for a particular company.
There may be a specific role you (or the employer) has in mind, but more
often you’re interested in tossing your name into the hat for any
opportunities an organization may offer.

Letters of intent are used as a means of introduction to personalize your
application and connect the hiring manager to your resume. They make it
easy for the recruiter or employer to see exactly what your qualifications are
and what you can bring to the table that other applicants cannot.
>Letter of Implementation
The purpose of this letter is to provide some additional information about how to
implement your approved request and how to meet certain obligations related to
the approval of your request.
This letter is to confirm our mutual understanding of the terms and objectives of
our engagement to address the implementation of your ----. This implementation
engagement involves assisting you in taking action on decisions and
recommendations developed----
>Publication Orders
https://www.pacer.org/publications/OrderForm.pdf
>Letter of Acceptance
The Letter of Acceptance means the issue of a signed letter by the Employer of its intention
to accept the offer of successful bidder and awarding the work mentioning the total
Contract Value.
An Acceptance Letter of Credit, also known as Documents Against Acceptance,
stipulates a specific time for payment, as well as the terms that must be complied
with before payment is authorized.
There are two types of acceptance credit, the confirmed acceptance credit and
the unconfirmed one.
When a letter of credit is confirmed, it guarantees a bank payment (regardless of
whether the Applicant or Buyer has the money in its account) and serves as a
proof that all the terms for payment of the letter have been met.
Unconfirmed acceptance letter on the other hand means that the bank is not
guaranteeing payment. Payment will only be rendered if assets are available in
the payor's account.
What is a letter of acceptance?
A letter of acceptance, or acceptance letter, is a written agreement to the terms of
employment offered by your new employer. While you may have already accepted
the job offer during a call or in-person meeting with your employer, following up
with written acceptance is good practice and may even be requested by the
recruiter. While the letter is best kept brief, it must include the following important
details:

Expression of gratitude for the job offer




Clear written acceptance of the job offer
Confirmation of the terms of employment, such as salary, job title
and any benefits
Clarification of your start date
Signature