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What is a Quote? and What Should a Quote Contain?

 What is a Quote? and What Should a Quote Contain?

shopping quotes


A quote that is often confused with a budget is a document that cannot be edited for whoever receives it, which informs of the cost of a service or product, also gives an image of seriousness on the part of who issues it, which is the seller or supplier, it can also be a cover letter for the client.

A quote usually has validity. It can be a week, 15 days, or a month. It depends a lot on the company or service that you are quoting. supplier quotes


The data that make up a purchase quote is:

-Customer name

-Name of the seller, company

-Expedition date

-Expedition place

-Quantity of products, hours, or services (if applicable)

-Description of the product / s or service / s

-Total cost (mention if VAT is included)

-Times of delivery or performance of the service

-Contact details of the supplier or seller

-Territory area where services are offered, products are sold or shipped.

-Way to pay

- Validity of the quotation


Quote features examples:

"I need to quote 20 kilos of sand and 10 packages of cement."

«I need to know the cost of several moving companies for my next house change.»

"I am sending you the quote for 5 hours of sound for your party."


Who asks for quotes from suppliers?

Generally, a client can be the purchasing person of a company, a professional for a company. But it can also be any other person who asks to quote a product or service to different quotes from suppliers or sellers.

In this way, they will seek to know the estimated cost and choose to contract or buy in terms of price, delivery time, or performance of the service and the quality offered by the supplier or seller.


Social security quote

In Chile, a pension contribution is called the worker allocating a monthly percentage of his salary or remuneration for pensions, occupational accidents, and occupational disease insurance.

In this case, the contributions go directly to the worker's individual account in a pension fund manager.


International quote

An international quotation is an estimate of the price of a commodity-based on negotiation for export purposes. As such, you must determine the value of the good or product considering production and export expenses and leaving a profit margin.

In this sense, the international quotation is a document that must contain the legal data of rigor of the company and describe in detail, using the usual terms in international trade, the product, the terms of payment, term, and place of delivery, and price expressed in the type of currency of the transaction.


Money quote

The monetary price is the number of units of the national currency required to buy foreign currency or foreign monetary units, that is, the value of our currency expressed in foreign currency.


It establishes the relationship of value between two different monetary units, being that this relationship is determined by the exchange rate, also known as the exchange rate or conversion rate, of the current currency. It is generally done against foreign currencies such as the dollar or the euro.


Stock listing

In economics, the listing on the stock market is a procedure used by companies to obtain stock market financing. It involves putting a fractional part of the company (shares) up for sale to be listed on the stock market.

The stock market sets and updates, periodically and publicly, the shares' official price or economic titles. The shares are traded depending on the supply and demand they have. Their valuation is a clear indicator of the confidence or mistrust of investors in the company's profitability.

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