Sample Cover Letter For Quote Submission

Submission of Quotation Letter Sample

Cover Letter for a Cost Quotation

August 2, 2014

Name of Tender Inviter
Designation of Tender Inviter
Address of the Organization

Sub: Submission of Quotation for Interior Decoration and Ancillary Works at ABC Bank Ltd.

Ref: Your advertisement in The Daily Star, dated: July 25, 2014.

Dear Mr. Robert,

In response to your invitation for tender cited above, we have the pleasure in submitting the Quotation for the above-mentioned works. Accordingly, our pricing stands at $ 1,29,000.00. The breakup of the aforesaid pricing is as under:
  • Interior Decoration: $ 60,000.00
  • Installation of AC: $ 24,000.00
  • Installation of Furniture: $ 30,000.00
  • Sanitary & Plumbing Works: $ 15,000.00
The detailed pricing has been duly quoted in the Bill of Quantity (BOQ). All state/government applicable VAT/TAX is included in our pricing. Please feel free to contact with the undersigned to inquire about any of the specifics of this quotation.

In this circumstance, we hope that our quotation shall be treated as fair and reasonable in comparison with the other participators.

Thank you very much for allowing us the opportunity to bid for your tender work.

Yours faithfully,

Handwritten Signature
(Full Name of Applicant)

1. Bill of Quantity (BOQ)

Quotation letters allow individuals, companies, and organizations to inquire the prices of materials and services offered by certain businesses. The act of sending quotation letters to businesses cuts down on time and effort that are usually spent by prospective buyers in inquiring the prices of goods and services one by one.

There are numerous types of quotation letters depending on its purpose. If you are currently planning to write a quotation letter, you need to make sure that you are subscribing to its standard format. To help guide you in your letter-writing, download our Quotation Letter Templates on this page.

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What Are Quotation Letters?

A quotation letter is any letter that is being sent for the purpose of communicating information, or making requests with regard to a sales quotation or a quotation proposal. For clarity, a quotation proposal is a document that contains the estimation of prices of particular products or services that a company is selling. This document is prepared by businesses and given to prospective customers or clients.

What Are the Different Purposes of Quotation Letters?

Since a quotation letter is any letter that is intended for communicating information regarding a quotation and there are different types of information that may be addressed in the process of creating a quotation, then it is only logical that there be different types of quotation letters.

Quotation letters have many types depending on the purpose for writing it. The following are the most common usage of quotation letters:

  • A quotation letter is written by a prospective customer in order to request a quotation proposal from a business.
  • Quotation letters are written by a bidding organizer to a couple of businesses or companies in order to ask them to create a quotation proposal, as well as bring this proposal during a scheduled bidding event or bidding process.
  • A quotation letter is written by a prospective customer/buyer in order to negotiate some terms, prices, or payment, and delivery methods indicated in a quotation proposal.
  • A quotation letter is also written by a prospective customer/buyer in order to approve or agree to the contents of a company’s quotation proposal.
  • On the other hand, a quotation letter is also sent in order to communicate a prospective buyer’s rejection of the terms or prices in a quotation proposal.
  • A quotation proposal is sent by companies or businesses in order to inform prospective buyers regarding the revisions they have made in their quotation proposals.

What Are the Benefits of Writing Quotation Letters?

There are several advantages of practicing the act of formally sending letters in dealing with the other party in a quotation or bidding process. The following are the most notable benefits of writing quotation letters:

  • A quotation letter allows both parties to be clear. Letters have a standard format thus the information that it contains would be presented in an easily visible and coherent way. Since a properly written quotation letter is bereft of any ambiguity, it thus means that both the business and the prospective customer can clearly and succinctly enunciate the particular aspects of a quotation that they want to address.
  • A quotation letter is a formal document that can be admissible in court. In case there is any confusion as to the terms of a quotation proposal, quotation letters are strong forms of evidences as to the correspondences between the business and its customer. Through the perusal of an authentic quotation letter, the court can examine the aspects of a quotation proposal that both parties have agreed to.
  • A quotation letter can hold each party liable for any violation of the terms in a quotation proposal. For example, if the buyer has decided to accept the terms cited in a quotation proposal and have then sent a letter accepting the said proposal together with the payment of the total amount indicated in the proposal. Then afterward, the business failed to deliver the goods on the day it was expected. In this scenario, the buyer has the remedy of going to court and using the quotation letters as evidence of a business agreement.

To know more about quotation letters, download our templates on this page or you can check out our collection of Quotation Letter Samples. Simply click on the link provided.

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What Is a Formal Quotation Request Letter?

A formal quotation request letter is a type of quotation letter that is sent by a prospective customer to a business or company. The purpose of this letter is to formally request a business to prepare a quotation proposal and submit it on a particular date.

What Is the Importance of a Quotation Request Letter?

Most prospective customers are always looking out for goods and services that are of the cheapest price. Of course, these customers would also assess the quality of the products or services offered by a business. Not only that, it is also important for customers that the payment methods that are available should they decide to do business with a company is something that is feasible, practical, and more convenient. Indeed, there are numerous factors that can affect a prospective customer’s decision in which business to engage with, that is why most customers would benefit by making inquiries regarding the products or services that they plan to purchase or avail.

The matter of selecting the perfect supplier or service provider is a particularly serious one. It is for this reason that prospective customers, especially those who intend to acquire goods or services by bulk, would benefit the most by asking for quotation proposals from various businesses.

What to Include in a Formal Quotation Request Letter?

A formal quotation request letter has various parts and those are the following:

  • Letterhead. The letterhead contains the following parts:
    • The heading for the information of the prospective buyer (his/her name, contact information, and address)
    • The heading block for the information of the company or business (its complete company name, business address, contact information)
  • Formal Salutation. The letter-recipient should be addressed in a professional manner.
  • Body of the Letter. The following are the necessary aspects that must be covered in this part:
    • The initial statement that clearly expresses the purpose of the letter, which is to request the letter-recipient to prepare and submit a quotation proposal.
    • The explanation of the reason behind the need for a quotation proposal.
    • The enumeration of the particular products or services that the prospective customer wishes to address in the quotation proposal being requested.
    • The specific date when the quotation proposal should be submitted.
  • Formal Closing. The letter should be ended in a polite and closing remark. Below it is a space sufficient for the prospective buyer’s signature and complete name.

To know more about the specific content and format of a formal quotation request letter, feel free to check out our collection of Quotation Letters in Doc. Access these templates by clicking on the link provided.

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Price Offer Quotation Letter

Offer Quotation Cover Letter

What Is a Quotation Offer Acceptance Letter?

A quotation offer acceptance letter is a type of quotation letter that expresses the prospective customer’s acceptance of the terms indicated in the specific quotation proposal being submitted by a business. This letter portrays the prospective buyer’s willingness to engage in business with the business that prepared the approved quotation proposal.

If you are writing this type of quotation letter, here are some guidelines that you need to follow:

  • Make the first sentence of your letter a clear statement of your acceptance of the quotation proposal.
  • After that, indicate the specific items in the quotation proposal that you have accepted.
  • If there are any minor aspect of the quotation proposal that you need to alter, you can also make a suggestion by delineating the specifics of your preference. It can be that you want the price to be changed, or the arrangements regarding the delivery method, as well as the payment terms.
  • You can also use this opportunity by adding some items that you forgot to ask for in your quotation request letter. For example, if there are additional goods or services that you need and are not included in the quotation proposal, you can ask the business to provide you with another proposal for such items or you may simply request that they revise the previous one, with the assurance that you agree to its prices beforehand.

What Is a Revised Quotation Letter?

A revised quotation letter serves as the cover letter or the introductory letter of a revised quotation proposal. Oftentimes, a prospective customer would negotiate the prices, delivery, and payment methods of a quotation proposal. In response to this, businesses try to cater to the customer’s needs by revising the quotation proposal that they have submitted. Upon submitting this revised proposal, it is best to attach a revised quotation proposal that would enlighten the prospective customer as to the particular parts that have been revised.

Download our Quotation Letters now and get started on writing your quotation letter.

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