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Purpose, Issuer and Receiver of Quotation


Quotation is  a formal statement of promise (submitted usually in response to a request for quotation) by potential supplier to supply the goods or services required by a buyer, at specified prices, and within a specified period. A quotation may also contain terms of sale and payment, and warranties. Acceptance of quotation by the buyer constitutes an agreement binding on both parties. 

Issuer :

 Quotation is issued or filled out by seller (sale or accounting & finance department), and send to buyer.

Receiver :

Quotation is received by buyer of goods or service (purchasing or accounting & finance department).

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