Why quotation matters to a first-time founder
A clear quotation lets a buyer compare scope, price and timing before committing. For the seller, it reduces disputes about what was included and protects margin. Ambiguous exclusions or expiry dates can turn an apparently profitable job into unpaid extra work.
Examples of quotation
A designer quotes ₦4 million for five screens, two revision rounds and delivery by 30 June. The document states that extra revisions cost ₦120,000 per hour and the price is valid for 30 days. The client accepts within that period.
Common misunderstanding
A quotation is not an invoice, which requests payment after or according to a sale. Whether a quotation becomes a binding offer or contract when accepted depends on its wording and local law. Calling a document “non-binding” may not settle every issue.
When to use it
Use one before custom, high-value or variable work. State the parties, scope, taxes, currency, payment terms, delivery, assumptions, exclusions and validity period. Obtain legal advice for unusual liability or regulated work, and never hide mandatory charges from the buyer.