An order stating the goods required but not the manufacturer from whom the foreign buyer intends to buy his goods is called?

Answer Details

An order stating the goods required but not the manufacturer from whom the foreign buyer intends to buy his goods is called an Open Indent. An indent is a document used in international trade to request goods from a foreign supplier. It specifies the quantity, quality, and description of the goods required, as well as any other terms and conditions of the order. An open indent is a type of indent where the foreign buyer specifies the goods they require, but not the manufacturer or supplier from whom they wish to purchase the goods. This allows the buyer to search for the best possible supplier or manufacturer, and to take advantage of any favorable market conditions or pricing. In contrast, a closed indent specifies both the goods required and the supplier or manufacturer from whom the buyer intends to purchase the goods. In summary, an order stating the goods required but not the manufacturer from whom the foreign buyer intends to buy his goods is called an Open Indent.