The dynamics of a contractor quotation varies from one country to another. This is because general contractors come up with different formats in outlining their quotations depending on the prevailing laws and policies in their country. However, one thing is clear: a contractor quotation is also considered as a non-binding agreement. It is somewhat likened to an project estimate made by a general contractor regarding a specific transaction.
If you have a hard time formatting your contractor quotation, on this page are 9+ contractor quotation samples and templates that showcase quotation ideas and uses. As a builder or agent, the templates can surely help you.
One should not confuse contracts with quotations. A contract template is a binding agreement between two or more parties that contain that documents and provides the terms and conditions of the agreement. It is established when there is a meeting of the minds between the contracting parties and a consensual decision to be bound by the provisions of it.
On one hand, a quotation is a nonbinding contract. It only becomes binding once a contract is created and established after its approval. As defined by Business Dictionary, it is a document that contains the terms of the transaction, the corresponding payment required, and other pertinent warranties. In line with this, here are some important elements of a contractor’s quotation: You may also check Quotation Format
To clearly grasp how the following elements are written and arranged in a contractor’s quotation, you can check out our quotation samples, especially the pro-forma contractor’s quotation templates.
In dealing with contractor’s quotations, you should know how to choose and effectively negotiate with the right contractors. Always take into account that the dynamics of your project will be greatly affected by your chosen contractor. Here are some tips that you may consider:
These are just tips that you may consider in negotiating with contractors. You will also learn more along the way. To help you more, you can check out these sample construction contracts.