Price Quotation Samples | Template | Format | Excel - Project Management

The buying behavior of companies and organizations is completely different from how an individual person would buy something. You want something and you go to a place that sells or offers it and you just negotiate and buy it but companies ask for price quotations first. If a company wants to buy something or requires specific services, it will ask couple of vendors or suppliers to send their price quotations. These quotation letter from suppliers will include the description of services along with their prices or charges.

Key Elements of a Service Price Quotes:

Your Company Particulars:

This belongs to the first and top part of the quotation where you start the quotation letter with putting your company’s name on the top of the letter. If you are using an official letterhead, it’s great but even if it’s not available for some reason, manually type your company name on the top of the letter. If you have pay tax for your income, you should mention the tax registration number on the letter as well. This doesn’t affect anything but will tell your client that you are legit company. This part of the letter should include the contact details and street address of your company as well.

Describe your letter with either Quotation or Estimation:

This is a very important part of the quotation letter. If you are really sure about the services and their prices and you are definitely presenting a quotation, mention the work Quotation below the company particulars. Instead, if you are just giving estimation, mention it on the letter so the customer or client understands it.

Date and Serial Number of Quotation:

The date on which you prepared and sent the quotation is not important for the client and neither is the serial number of the quotation but it’s important for you and you should keep track of it. For this purpose, mention the date on which you prepared the quotation and sent it to the client along with the date when the quotation will expire i.e. 15 days or 1 month and the serial number of the quotation. Keep in mind that you should use unique number for each quotation so you can track it later in your personal records.

Payment Details:

This is again a very important element of a professional quotation from the perspective of both you and your client. If you are planning to receive the payment on specific terms i.e. 30% advance, 30% during the delivery of services and remaining at the completion of services, you should describe it in the quotation letter along with the preferred method of payment i.e. cash, check or credit card.

Description of the Services:

Now this is the part of the Service Price Quote that is crucial for the letter and without it, the quotation won’t be considered legal. In this part of the letter, you need to define each service from your perspective along with the scope of your work, estimated time to completely deliver all the services and specific description of each service. It is important to make all the services as brief and clear as possible so there is no confusion at either end.

Actual Quote or Price of Each Service:

After explaining the services that you will deliver to the client or customer, you need to mention their prices and charges that you will collect from the customer. This part of the quotation letter should be specific and precise and whether there is only one service or a list of services, you should mention price or charges of each service separately. At the end, include the tax on the total payment and sum up the price and put the figure in bold font.