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Q.What is quotation letter?

Uttar Pradesh UpmspUP Board (UPMSP) Intermediate (Commerce) 2020Subjective· 2mImportance★★★★★
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A quotation letter is the seller's reply to an enquiry, stating prices and terms of supply.

A quotation letter is a business letter sent by a seller in response to a buyer's letter of enquiry. In it, the seller quotes the prices of the goods asked for and sets out the terms and conditions of supply — such as quality and quantity, trade and cash discounts, mode and time of delivery, and terms of payment. It helps the buyer decide whether to place an order. A quotation is generally an invitation to offer (or an offer), not a bin …

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