What is Quote?

A quote is a fixed-price commitment for a clearly defined piece of work. Unlike an estimate, which is approximate, a quote is a firm offer — once the client accepts it, you are obligated to deliver at the stated price.

A professional quote should include:

• Your name and business details
• The client's name and details
• A unique quote or reference number
• A detailed description of the work or deliverables
• The total price (including or excluding VAT — be clear which)
• A breakdown of costs where appropriate
• Validity period (e.g., "Valid for 30 days from date of issue")
• Payment terms
• Any exclusions — what is NOT included in the price

When to use a quote vs an estimate:

• Use a quote when the scope is well-defined and you are confident in the price
• Use an estimate when there are unknowns or the scope may change

Protecting yourself with quotes:

• Always specify what is included and excluded
• Set a validity period so you are not held to outdated prices
• Include a clause allowing price adjustments if the client changes the scope of work
• State the number of revisions included

OwnedWork lets you create professional quotes and convert accepted quotes into invoices with one click, carrying all the details across automatically.