Quotation


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Quotation - a proposal, which establishes a contractual relationship. A quotation is a supplier`s response to a request by prospective customer - one legal entity offers a contract to another. The supplier is legall bound to the conditions of his quotation. If the supplier wishes to be released, he must include specific exemption clauses to the quotation, e.g. “without obligation” or “non-binding”. The legal parameters of the exclusion clauses are described in § 276 III BGB and in § 309 Nr. 7 b BGB.

The quotation lays down the deliverables and services between customer and contractor. The order scope, the required quality as well as other claims are defined in a legally-binding functional specification. The quotation usually also contains specification of the quantity and price of the product, the delivery time and payment terms.

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