FINAL QUOTATION Meaning and
Definition
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A final quotation, often referred to as a final quote, is the last and definitive price that is offered by a seller or service provider to a potential customer for a specific product or service. Typically, the final quotation is a formal document that outlines the detailed cost, terms, and conditions associated with the purchase or acquisition of the item or service. It serves as the ultimate proposal presented to the customer before making a decision.
This quotation is usually based on various factors such as the quantity or scope of the product or service requested, any applicable discounts or promotions, and any additional charges or fees. The final quotation may also include information regarding warranties, delivery timelines, and payment terms, providing a comprehensive overview of the transaction.
Importantly, the final quotation is considered binding, meaning that both parties are expected to honor the terms outlined within it upon acceptance. It serves as the closing statement in the negotiation process and signifies that the supplier has evaluated the customer's requirements and provided their best and definitive offer.
For the customer, the final quotation is valuable as it allows for accurate budgeting, decision-making, and comparison between different suppliers or providers. For the seller or service provider, it serves as a formal record of the agreed-upon terms and conditions and provides clarity in terms of expectations and obligations.
Common Misspellings for FINAL QUOTATION
- dinal quotation
- cinal quotation
- vinal quotation
- ginal quotation
- tinal quotation
- rinal quotation
- funal quotation
- fjnal quotation
- fknal quotation
- fonal quotation
- f9nal quotation
- f8nal quotation
- fibal quotation
- fimal quotation
- fijal quotation
- fihal quotation
- finzl quotation
- finsl quotation
- finwl quotation
- finql quotation
Etymology of FINAL QUOTATION
The word "final" comes from the Latin word "finalis", which means "last, extreme, or ultimate". It entered the English language in the late 14th century.
The word "quotation" comes from the Latin word "quotare", which means "to mark or number". It originally referred to the action of citing or referencing something. It later developed its current meaning of a passage or statement that is used or cited from a text or speech.
Therefore, the etymology of "final quotation" simply combines the origin of both words, referring to the last or ultimate reference or statement cited from a source.
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