When your customer asks you to provide an estimate of particular goods or services to be purchased, drafting a professional-looking quotation will be an excellent choice for you and you can make one easily via quotation templates given here on this page. It is recognized as one of the vital business documents and is usually used to communicate the cost of goods or services to potential customers. Once a price quotation is accepted by the buyer with all mentioned terms and conditions, it will turn into a sales agreement and the seller will be liable to provide goods or services at an agreed price.
The quotation is not an agreement itself but is used to indicate the cost of a job or service. For example, when your customer asks you to give a cost estimate before getting your services or products, a quotation will be the perfect document to do so because it has all the required details and information like a description of services or products the customer wants to purchase, price per unit, total cost, discount if any, payment terms, expected delivery date, etc. A buyer must agree with all mentioned terms and conditions in order to convert the quotation into a purchase agreement. Some price quotations are made with an expiry date and cannot be accepted after the due date.
Customers and buyers use quotations as a useful tool to find out the best sellers or service providers to purchase products or services at reasonable costs. A quotation could be the very first step toward a sales transaction so as a seller you should offer reasonable rates and high-quality services to generate new customers and sales leads. Below are some high-quality editable quotation templates and formats that a company, vendor, or seller can easily customize in MS word or MS excel to edit with their own details like the name of the business, logo, contact details, and many more.