A business quotation is a useful document for businesses. It is used to magnetize the attention and buying tendency of prospective clients.
On this page, we can provide you with a variety of well-formatted quotation templates that can enlighten you as to the myriad of quotation uses and other helpful ideas about quotation making.
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What Is a Business Quotation?
A business sales quotation is a document prepared by businesses to inform their prospective clients regarding the prices it plans to offer for specific items of goods or services.
A business quotation’s content may vary as it will be dependent on the type of business that prepares it. The following are some of the essential elements of a business quotation:
- The company letterhead
- The name of the person preparing the quotation
- The name of the person or organization to which the quotation is being sent to
- The enumeration of the items of goods or services being offered
- Its prices
- Total amount to be charged
- Payment terms
- Delivery terms
- Expiry date of quotation
How to Present a Business Quotation
There are numerous ways that a business quotation may be brought to the attention of the prospective customer involved. The following are the usual methods of presenting a quotation:
- If you are making a quotation in response to a formal request for quotation (FRQ), then you may:
- email your quotation
- send it through actual mail
- If you are making a quotation in response to a bidding invitation, then you must send a representative from your company who can present the contents of your price quotation during a bidding.
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What Are the Uses of Quotations in Business?
There is no scarcity of reasons that can stress out the importance of quotations. The following are few of the most notable uses of quotations in businesses:
- It contains the actual price offering per item of service that a business offers to its potential customers. Thus, all the customer would have to do is to confirm, reject, or negotiate these prices.
- Since it is a quotation, customers can still make an appeal to businesses regarding the terms of a sale.
- A quotation is a good source of information for the analysis of how prices change overtime for a specific product that a business offers.
How to Write a Business Quotation
Writing a business quotation is not an easy task. Below is an outline of the steps that one can take in order to create an appropriate business quotation:
- Refer to a business quotation template. You may use our collections of quotation examples and construction quotation.
- Briefly narrate in what manner you have heard of the project to which you are sending your quotation to.
- Create an itemized list of the items of goods or services you are planning to offer.
- Specify the date when these items can be availed at the price you offered in the quotation.
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