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...
What is a non-binding quote?

What is a non-binding quote?

A non-binding quote is a price estimate that you, as an entrepreneur, can adjust or withdraw without legal consequences. For hospitality and event companies, this offers flexibility in changing circumstances such as seasonal prices, uncertain supplier costs or complex...
What are the legal requirements for a quotation?

What are the legal requirements for a quotation?

In the Netherlands, there are specific legal requirements for quotations that every hospitality and events entrepreneur must be aware of. A quotation must contain mandatory company details, state a period of validity and show correct VAT information. These rules...

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