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International Trade vocabulary · Quotations and Orders

Quotation

Meaning in international trade, with examples

/kwoʊˈteɪʃən/nounCore term

In international trade, quotation means: A written statement from a seller giving the price, quantity, delivery and payment conditions for goods a buyer is interested in.

In Turkish: fiyat teklifi, teklif, kotasyon

How it is used

Sent in reply to an enquiry or an RFQ. You prepare, send, submit, revise or accept a quotation. A quotation normally shows its validity period, the Incoterms rule and the payment terms.

Example sentences

  1. Please find attached our quotation for 5,000 units, valid until 30 June.

  2. The customer asked us to revise the quotation and quote CIF instead of FOB.

Common collocations

  • send a quotation
  • revise a quotation
  • quotation valid until
  • firm quotation
  • price quotation
  • request for quotationA document or message in which a buyer asks suppliers to give prices and conditions for specific goods, quantities and delivery terms.
  • proforma invoiceA preliminary invoice sent before shipment that shows what the final invoice will contain, so the buyer can arrange payment, an import permit or a letter of credit.
  • unit priceThe price of one item or one unit of measure, such as a piece, kilo, metre or box, before it is multiplied by the quantity.
  • lead timeThe time between placing an order and receiving the goods, or between the order and the goods being ready for shipment.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Quotations and Orders

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