Quotation (Quote)

A Quotation (Quote) is a written document provided by the seller to the buyer in foreign trade, based on the buyer's inquiry, stating the price of goods and related transaction terms. Its core contents include: product name, specifications, quantity, unit price, trade terms (such as FOB, CIF), payment method, delivery time, validity period, etc. Usage scenario: After the buyer's inquiry, the seller proactively or upon request issues a quotation as the basis for subsequent negotiations and contract signing. Notes: A quotation is generally not legally binding (unless explicitly stated as a firm/irrevocable offer), and the validity period must be indicated; trade terms should be clearly specified to avoid disputes arising from unclear cost allocation; if it is a Firm Offer, it is irrevocable within a certain period. Difference from a Proforma Invoice: A quotation is mainly used for quoting and negotiation, while a proforma invoice is often used by the buyer to apply for a letter of credit or handle import licensing, and has a more formal settlement reference function. Difference from an Offer: A quotation may merely be an invitation to treat, whereas an offer, once accepted, constitutes a contract.