Quotation and Tender

What should I do if I receive a quotation that seems too high?

Answer: If you think a quotation is too expensive, you can try talking to the seller to see if they can lower the price. You can also compare prices from other sellers to find a better deal.

How do I submit a bid for a tender?

Answer: To submit a bid for a tender, carefully read the instructions provided by the buyer and follow them. Make sure you include all the required information and submit your bid before the deadline.

Can I change my quotation or bid after I’ve submitted it?

Answer: Usually, you can’t change your quotation or bid once you’ve sent it in. It’s important to check it carefully before you submit it to make sure everything is correct.

How long is a quotation valid for?

Answer: The validity period of a quotation depends on the seller’s rules and the type of transaction. Some quotations are valid for a certain time, like 30 days, while others don’t have a time limit.

What happens if my bid is selected in a tender?

Answer: If your bid is chosen, you’ll talk to the buyer to work out the final details of the contract. Once everything is agreed upon, you’ll sign a contract outlining the terms of the project or services.

Difference between Quotation and Tender

In business, when you want to buy something or hire someone to do a job, you usually ask for a price. That’s where quotations and tenders come in. A quotation is like asking a store how much something costs, while a tender is more like asking different companies to give you their best price for a big project. It’s important to know the difference between these two because it helps you know how to buy things or hire services in the best possible way for your needs and budget.