10
Quotations, estimates and tenders
A quotation is a promise to supply goods on the terms stated. Quotations are also sometimes referred to as bids, quotes, estimates, tenders or proposals. The prospective buyer is under no obligation to buy the goods for which a quotation is requested, and suppliers will not normally risk their reputations by quoting for goods they cannot or do not intend to supply. A quotation will be prepared on the company’s letterheaded paper, and will usually include:
- an expression of thanks for the enquiry
- details of prices, discounts and terms of payment
- a clear indication of what the prices cover, eg packing, carriage, insurance
- an undertaking regarding date of delivery
- the period for which the quotation is valid ...
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