3/16/2024 0 Comments Free online business plan creator![]() Instead, they create estimates which gives an approximate cost of the job which is likely to cost. ![]() Meanwhile, those businesses that can’t offer a fixed price don't issue any quotation to the customer. Quotation sent to the customer includes product or service name, description, quantity, time, etc. As quotations bring you a new customer and help you grow your business, it is always important to give enough time when creating a quotation. Usually, quotations are not legally binding contracts for both parties, however, if the customer commits to purchase the goods or services at a specified price, it is considered that the customer has accepted the quotation. Also, known as a sales quotation, it holds all the detailed information about the product, price, and the total amount of the transaction. ![]() Generally, a customer requests a quotation to know more about the goods or services rendered by the vendor before they commit to purchasing. When a supplier submits his proposed price and quantity of his products or services to the potential client is a quotation. Quotation Meaning - What is Quotation in business?
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