What is the difference between a quotation and an agreement?

What is the difference between a quotation and an agreement?

A quotation is a non-binding proposal from a company to a customer, while an agreement is a legally binding contract between both parties. The main difference lies in the legal consequences: a quotation can still be withdrawn or rejected, but an agreement obliges both...
What is the difference between a quotation and an invoice?

What is the difference between a quotation and an invoice?

The difference between a quotation and an invoice is that a quotation is a price proposal before the provision of services, while an invoice is a request for payment after the provision of services. A quotation does not entail a legal obligation to pay, whereas an...
What is the difference between a quotation and a price estimate?

What is the difference between a quotation and a price estimate?

A quotation is a legally binding commitment with fixed prices and conditions, while a price estimate provides a non-binding indication of possible costs. For hospitality and event entrepreneurs, this difference is important because it determines whether your customer...
Is a quotation a valid contract?

Is a quotation a valid contract?

A quotation becomes a valid contract when both parties accept the terms and conditions and there is mutual agreement. In the hospitality and events industry, this usually takes the form of written confirmation, a signature or the payment of a deposit. Without clear...
Is a quotation always a fixed price?

Is a quotation always a fixed price?

A fixed-price quote is not always a fixed price. Whether a quote is binding depends on how you draw it up and what conditions you include. In the hospitality and events industry, you can opt for fixed prices, variable prices or a combination of both. Transparent...

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