Legally recognized businesses in most parts of the world are required to follow certain standardized formats for various business transactions. A quotation sample helps you understand the content and structure of this business document.
Buyers generally float an enquiry for the merchandize that they need and the vendors offer a written price quotation. The price quotation should contain complete details of the product being offered as well as conditions attached to the selling and purchasing process. Apart from the price being offered, the quotation will also contain duties and taxes levied by local governments on the product, a specific date until which the quotation is valid and any other relevant information considered essential. When cross border transactions are involved, the quotation may also include basis of delivery, shipping information, and any other information sought by the buyer.
A quotation sample is generally divided into 3 distinct parts. The top part or the header carries the name of the vendor, contact information, and a web address if available. This is followed by a unique reference number and date on which the quotation is offered. The quotation sample used in some regions carry the payment terms beneath this line in the first part itself, while in some other regions, this information is carried in the second part or the body of the quotation sample. The address of the client/buyer follows these and just before commencing the second part or the body of the quotation the word ‘quotation’ should be written in bold.
The second part of the quotation sample is the body of the quote that is being offered. This part will contain the detailed description of the product, quantity, unit rate, total value per item, and the total value of the offer itself. Taxes and levies charged by the exchequer are mentioned separately. Commission payable to agents, particularly in the case of international transaction also will be mentioned separately. If the Vendor is offering services instead of products, the quotation sample should be modified to carry full description of the service being offered.
The third part of the quotation sample generally carries the grand total value of the quote in words , the seal and signature of the vendor and space for the buyer to signify his/her acceptance. However, most buyers may opt to issue a separate letter accepting the quotation or move to the next step of the buying process by issuing an appropriate purchase order. In the information age, you can use the friendly search engines to view or down load a variety of business forms, templates and samples. Helpful websites providing these work as a great source of learning for new entrants into business as well as students of commerce and business.