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- Quotations serve several purposes in business12:
- Clarity and transparency: Quotations provide a clear and transparent breakdown of the goods, services, or products offered, along with their associated costs.
- Legal protection: Quotations can serve as legally binding documents that protect the interests of both parties when they are accepted.
- Budgeting and financial planning: Quotation helps the company’s finances to stay within a predetermined budget, as well as control money coming in and going out.
- Record keeping and documentation: Quotations provide a record of the transaction and can be used for future reference.
- Regulating and protecting buyers: Quotations regulate prices and protect buyers from price changes. They also give buyers information about when goods should be paid for at the latest.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Importance of Quotations in Business
- Clarity and Transparency Quotations provide a clear and transparent breakdown of the goods, services, or products offered, along with their associated costs. ...
letstranzact.com/blogs/what-is-quotationsThere are several purposes of a payment method agreement, see the following list:
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