1. He should be well versed with the conditions of his ships and ensure that his voyages not end in disaster. He should be aware of the insurance policies of the country he left, and the country he voyages for so that he can be compensated for lost goods in the event of a disaster.
2. He should know of all the expenses it takes to build and repair the his ships, as well as the salaries of the men of diverse duties who work on these ships. He should also know of the expenses paid to commanders and officers of any escort ships that accompany him in his voyage. Also, he should be well aware of the expenses needed to make in order to ensure that enough munitions and provisions are aboard the ships to last the trip.
3. He should have knowledge of many diverse products and their values in order to make possible of adaptation in the ever changing world of trade.
4. He should be able to skillfully navigate across the seas.
5. The merchant must have a thorough knowledge about the countries he trades with, their culture, yearly revenues, arts and business customs, their laws, languages, policies, religions and mannerisms and must be able to recount those of his own for the good of his country.
6. Lastly, the merchant should be a man of good scholarly nature, proficient in Latin, and should not prioritize profit above the satisfaction of the customer.
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