A quote can be explained as an integral business document processed by an individual, retailer or a company to explain price details and classification of work that need to be done for a customer or client. Quotation Template helps in creating quick quotes for various products or services that are available. Therefore quotes are prepared by companies.
Qualities of a good quote:
A well prepared quotation template should not just be able to meet your business obligations and minimize legal and financial risks but it should be able to attract new customers by establishing your professionalism.
A good quotation template should include the following components:
Providing your company details and contact information in a quotation template is a legal requirement.
Being one of the main components, a quotation template should specify the details regarding the job and it’s cost. Also what’s included and what’s not included in the cost should also be stated clearly.
Itemization of costs
Explain the job proposal in clear terms, giving details about the detailing the particulars involved, and itemise costs for labour and materials.
Analyze different scenarios and calculate the change in cost due to them. A business quotation template should include this fluctuated costs.
Allow yourself the convenience of revising the quotes just in case there are changes after the the work has begun.
Specify in clear terms the time when the work will begin and the amount of time it will take to complete it. If you are given the contact for the said job, you will be legally obliged to finish your work in the given time. Also state if your schedule may change due to other variables like weather.
Terms of Payment
Specify when and how you require payments. For example, lump-sum, half up front and half on completion, or divided equally over a period of time. Method of payment should also be specified. For eg. By bank or cash.
Include a ‘sign here’ statement to fix the agreement, such as ‘I, [name] , accept the above terms and conditions. Signed ____________. Date ________.