ZIMSEC O Level Commerce Notes: 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.
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