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Formal Quotation Template
Formal Quote
A quotation is normally the first step in the export transaction. It is a response to an inquiry received from a potential
buyer (or a U.S. representative of the foreign entity) or a proactive marketing step of a U.S. based company.
If a quotation is sent to a foreign company that is not familiar with the company or products, the description should be
very specific and detailed, more so than if the buyer were domestic. Along with the description, there are other items
that should be included, such as:
1. Seller’s name and address
2. Potential buyer’s name and address
3. Buyer’s reference – inquiry number if noted
4. Prices of items: per unit and extended
5. Weights and dimensions of quoted products
6. Discounts, if applicable
7. Terms of sale or Incoterms used (include geographical delivery point)
8. Terms of payment
9. Validity of quotation
10. Estimated shipping date
11. Estimated date of arrival
When quoting a price, it is beneficial to give a potential buyer some options of trade terms selection. Incoterms are
very effective when presenting pricing options to the potential buyer. For some very large foreign companies, it is more
convenient and cost-effective to negotiate their own freight rates and organize their own shipments, so they may prefer
EXW or F-terms. On the other hand, there may be other buyers that would prefer the seller to organize the movement,
thereby preferring the C-terms or even the D-terms.
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Formal Quotation Template