Julian: I'm new to this job, could you explain some of the terminology?
Jack: That's what I'm here for. Shoot.
Julian: What's the difference between retail and wholesale?
Jack: Wholesale is to distributors. Retail to consumers.
Julian: Distributors? Consumers?
Jack: Distributors are stores that sell our merchandise. Consumers are the people who buy the products.
Julian: Oh, I see. What's a bill of lading?
Jack: The bill of lading lists the merchandise shipped. It's included with every shipment or delivery.
Julian: I get what pre-paid means. That means the merchandise has been paid for. But, what's C.O.D.?
Jack: Cash on delivery.
Julian: What does that mean?
Jack: Exactly what it says: cash is paid upon receiving the goods. Of course, it could be a credit card or a check, as well.
Julian: Oh, I understand. What's a delivery fee?
Jack: The delivery fee is an extra charge that the customer pays to have the goods delivered.
Julian: I think I'm beginning to understand now.
bill of lading
COD - Cash on Delivery
to receive goods
Check your understanding with this multiple choice comprehension quiz.
By Kenneth Beare, About.com Guide