Generally the commercial transaction means, any goods or services transferred between people under commercial term or conditions. Most important thing in a commercial transaction is profit, because both the parties who have entered into a contract have to work hard for their profit. Especially in our current world no would do anything which is not profitable for them. It is because money values everything and people are slaves of money who run behind the money.
Earlier generation commercial transaction was done by goods and people followed the goods transaction method where people exchange their goods in order to fulfill their wants and needs. However later this situation has changed because of equality between goods. Therefore people created a universal exchange unit which can value the good and services according to the quality and standards of such goods and services. Nowadays, the money transaction has become as outdated and people started to adopt electronic transactions. Especially most of the commercial transactions are some by this well protected electronic transaction system.
However, earlier days, people did all this commercial transactions by manual procedure. That’s the reason why they used so much of papers in their business transactions. For example, all the invoice financing systems are done through this E-commerce methods. By this E- commerce system people can do a well protective transaction where they can get escape from black money, duplicate money, forgeries and theft.
Another important thing is that, when we are enter into commercial transaction, always we have to collect all the legal evidence for that transaction. Especially when we receive or give any discounts in our commercial transaction, then we have to ensure the submission of the accounts receivable factoring documents. By doing this we can keep it as an evidence which will be used in any conflicts on our commercial transactions.
Moreover, we are living in a society which is totally corrupted by criminals who commits offences for their personal benefits. Especially when it comes to commercial transaction, always we have to ensure the validity of the person or organization with whom we are dealing. It’ll be better if we do the background check up of them before enter into any transactions.
Also, we can see so many changes in our current world, and these changes occur day to day base, therefore always we have to update ourselves and our organization according to those changes. By doing this we can fight with our competitors and long last in this field.