adalinaabella
Joined: 29 Nov 2012
Posts: 65
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 Posted: Fri Dec 28, 2012 12:50 pm Post subject: What is a quotation in business |
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In business, a quotation is a document that a vendor or service provider would give to a customer to describe specific goods and services that they may provide and its cost. Besides the term quotation, it can also be referred by other terms like Bid, Quote, Estimate, Tender & Proposal .
You would normally prepare a quotation or estimate upon request by a customer.
We can also understand it with an example:
A statement or listing of the price for something. For example, a salesperson offers a potential buyer a quotation of $23,500 for a vehicle. A quotation of $15.01-$15.03 for stock means a potential buyer is willing to pay $15.01 per share (the bid), and a seller is asking $15.03 per share (the ask). Also called quote.
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