In one line
A fixed price you are offering for named work, held open until a stated date.
Also called a quotation, a firm price, or a bid.
What it means in practice
A quote commits you to the price for the scope it describes, which is why the scope and the exclusions matter more than the number. Say what is included, what is not, and how long the price stands.
It is the document that carries your terms: the deposit, the payment schedule, the late fee, and the line that says work outside the quote is billed as a change order.
Covered in full in the guide to quote, then invoice.
Example. "Valid until 30 September. 10% deposit on acceptance. Work outside this scope is quoted separately."
Where it shows up on the paperwork
The scope as lines with quantities, the exclusions, the total, a valid-until date, the deposit, and the terms including how changes are handled.
What goes wrong
- Writing the scope as a paragraph, which leaves what is not included to memory.
- No valid-until date, so a six-month-old price can be accepted after your costs have moved.
- Leaving the terms off entirely, which means there are none to enforce later.
The tools for this
Related terms
- EstimateYour best assessment of what a job will cost, which may move as the work is uncovered.
- Change orderA written record of a change to the scope, price or schedule after the quote was accepted.
- DepositPart of the price paid before the work starts, credited against the final balance.
- InvoiceA document that asks a client for payment for work already delivered.
- Proforma invoiceA document that shows what the final invoice will contain, sent before the work or the shipment.
- Work orderThe document that authorises work to be done, describing the scope and signed before it starts.
Common questions
Is a quote legally binding?
Once accepted, generally yes, for the scope it describes. That is why the exclusions matter as much as the price.
How long should a quote stay valid?
Long enough to decide and short enough that your material prices have not moved: 14 or 30 days suits most trade work. Put the date on the document.
Should I charge for quoting?
Not usually for a straightforward job, because quoting is part of winning work and is recovered through overhead. A detailed survey or a design the client could take elsewhere is a different thing and is worth pricing.