What is meant by business quotation?

Also known as a quotation, a business quote, or simply a quote, is a document that lists the prices proposed by a seller for their goods or services and offered to a potential customer.

What is quotation and example?

The words or passage quoted. An example of a quotation is when you take a passage from Shakespeare and repeat it as written without changing any of the words. An example of a quotation for a stock is the price of $24.56-$24.58. noun. A passage, from an authority, that is quoted, cited, and attributed to its source.

What is the purpose of a quotation?

The primary function of quotation marks is to set off and represent exact language (either spoken or written) that has come from somebody else. The quotation mark is also used to designate speech acts in fiction and sometimes poetry.

What is quotation cost?

A quotation is a fixed price offer that can’t be changed once accepted by the customer. This holds true even if you have to carry out much more work than you expected. If you think this is likely to happen, it makes more sense to give an estimate.

How do you write a business quotation letter?

Letter of Quotation Writing Tips It should be written like a formal letter. You should express appreciation for their interest in your organization. It must include the supplier name and address on the left side and date on which the letter has written. After this, mention the customer name and address.

What is the difference between a quotation and an estimate?

An estimate is a best guess of how much a job might cost. ​ A quote is more exact. Once you’ve accepted a quote, the contractor has to do the work for that price.

Is quotation an offer?

(a) A quotation is not an offer and, consequently, cannot be accepted by the Government to form a binding contract. The order is an offer by the Government to the supplier to buy certain supplies or services upon specified terms and conditions. A contract is established when the supplier accepts the offer.

What is the difference between quotation and estimate?

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