PRICE QUOTATION Meaning and
Definition
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A price quotation refers to a document or statement issued by a seller or service provider to a potential buyer, detailing the proposed cost or price for a product or service. It serves as a formal and written communication that outlines the financial terms and conditions between the two parties regarding the purchase or provision of goods or services.
A price quotation typically includes essential information, such as the name and contact details of both the seller and buyer, a description of the product or service being offered, the quantity or volume being offered, the unit price, any applicable discounts or special offers, and the total cost or price that the buyer needs to pay. In some cases, additional terms and conditions, such as payment methods or delivery details, may also be specified.
Price quotations are commonly used in various industries and sectors, including retail, manufacturing, construction, and professional services, among others. They provide clarity and transparency to both parties involved, ensuring that all aspects of the agreement are clearly understood before any financial transactions take place. Price quotations also enable buyers to compare prices and evaluate different offers from multiple suppliers or providers, ultimately helping them make informed decisions based on their budget and requirements.
Overall, a price quotation plays a vital role in facilitating business transactions by providing a comprehensive overview of the costs involved, establishing the basis for negotiation, and formalizing the agreement between the seller and buyer.
Common Misspellings for PRICE QUOTATION
- orice quotation
- lrice quotation
- 0rice quotation
- peice quotation
- pdice quotation
- pfice quotation
- ptice quotation
- p5ice quotation
- p4ice quotation
- pruce quotation
- prjce quotation
- prkce quotation
- proce quotation
- pr9ce quotation
- pr8ce quotation
- prixe quotation
- prive quotation
- prife quotation
- pride quotation
- pricw quotation
Etymology of PRICE QUOTATION
The word "price" originated from the Old French word "pris", which means "price, value, or worth". It ultimately derives from the Latin word "pretium" with the same meaning. The word "quotation" comes from the Latin word "quotare", meaning "to count, number, or estimate". When these two words are combined, "price quotation" refers to the act of providing an estimated cost or value for a product or service.
