Zafana Trade brokers. Image credit zafanankositrading.com

Zafana Trade brokers. Image credit zafanankositrading.com

ZIMSEC O Level Commerce Notes: Brokers

Brokers

  • Work in foreign trade as agents.
  • Bring buyers and sellers into contact
  • Buy or sell goods on behalf of their principals ( who can be manufacturers or importers)
  • Do not possess the goods they sell but sell goods by sample or description.
  • Do not deliver the goods they sell.
  • Have no insurable interest on the goods they sell or buy.
  • Receive brokerage as commission based on total value of sales.
  • Do not enter into contract.

To access more topics go to the Commerce Notes page.


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