A Quotation is the common method used by a seller so as to identify to the potential buyer the substance and details of the circumstances under which the seller would be included to sell.
The Quotation is usually the first serious exchange between the buyer and the seller and as such requires careful consideration in its format and monitored as to its effectiveness.
A Quotation may be presented as an offer or as an enticement to the buyer to make an offer of purchase. This subtle difference is hugely important, and the would be seller must be clear in his intent when issuing the Quotation.
There will be no legal contract between the seller and buyer until such time as both parties have agreed and accepted the conditions of the Quotation and any conditions which both parties have agreed.
In view of the legal implications, management within both the seller and buyers organisations, must come to terms with the skills required in order to be fully competitive within the global market place.
Further Details
Please see the International Trade OnLine website for full details.
