Sellers of different items and services quote the price of different items they have to offer. The quoted price is for customers who are interested in buying those services and products. It should be remembered that the quoted price is subject to terms and conditions. The price quoted by the seller is a fixed price that cannot be changed once the customer accepts it and shows his willingness to buy the products or services at the quoted price.
How does price quotation work?
Usually, the customer’s demand the seller to quote the price of the items he has to sell. As a matter of fact, the price quotation reflects the budget of the seller. It tells how much amount is the seller wants to get. The quoted price is set by the seller. If the customer accepts the quoted price, he places the order and confirms it. Once the order is confirmed, no one can change the price.
Why is a price quotation document used?
A price quotation document is required to be used when the price that the seller has quoted is needed to be represented. The seller usually sends this document to the buyer to let him know that at which price he is ready to sell his products.
In many businesses, the price quotation is considered quite similar to an invoice. Just like an invoice, the seller represents the price of the products. The only difference is that the invoice is sent by the seller when the customer has purchased the products and the price quotation document is sent when the buyer wants to see the price before deciding whether to purchase at a mentioned price or not.
What are the advantages of using the price quotation document?
A price quotation has many advantages. Some of them are
- A service provider needs to let his customers know that at which price he is willing to provide his services. In this way, the service provider works for only those people who are willing to pay him on the price he has quoted.
- When a seller wants his products and services to be sold, he prepares the price quotation and then sends it to the interested customers. Those customers who find the price to be reasonable show their willingness to buy the products and services. In this way, the price quotation document is used to promote the business of the seller
- A customer receives the price quotation from several sellers. The seller with the most reasonable price quotation is contacted by the customer and then products of the seller are sold out
Price quotation template
Sellers get the price quotation document very easily when they use the template. With the help of this template, the sellers easily create the price quotation. The format of the price quotation is known when the template is used. Therefore, the template can be used as a sample document that can be consulted while creating a price quotation document.
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