Quoted prices refer to the specific figures or amounts that are offered or provided by sellers or service providers to potential buyers or clients. These prices are essentially offers or estimates that indicate the cost or value of a particular product, service, or item, which are typically communicated in a specific currency unit or form.
Quoted prices are considered to be the established rates or charges proposed by the seller or service provider based on various factors, such as production costs, market demands, and competition. They serve as a basis for negotiation or decision-making processes, allowing buyers to evaluate and compare different options before making a purchasing decision.
These prices are often detailed in documents such as price lists, brochures, invoices, or quotations, where specific items or services are listed alongside their corresponding costs. Quoted prices can reflect various formats, such as unit prices, fixed amounts, or price ranges, depending on the nature and context of the transaction.
Moreover, these prices can be subject to adjustments or modifications based on individual circumstances or specific terms and conditions agreed upon by both parties. It is crucial for buyers to carefully review and consider these quoted prices, as they play a vital role in determining budgetary constraints and the overall value proposition of the product or service being offered.
