How to Write a Construction Quotation?
1. Write Your Company Information
On the header of your quotation, write the important details of your company, such as name, construction letterhead, address, and contact details. Apart from providing your client the contact information, this would also serve as a way to boost your branding, so your name would be known in the market.
2. Include the Details of the Salesperson
As a minimum, the details of the salesperson that must be included in your quotation are the name and contact number. Giving your potential customers these details would encourage them to communicate with you through your salesperson in case they have related concerns and clarifications.
3. Set the Validity Date of the Quote
In a construction industry setting, when the prices of the raw materials needed in the construction project can drastically change from time to time, it is vital to set the validity or expiry date of the quotation. This would help you clearly estimate the appropriate price based on the current construction market price of your materials. Usually, the validity period of the quote is one month or 30 days.
4. Provide the Construction Details
These include the raw materials that you need and their price sheets, the number of workers and their hourly rates, the overall number of hours it would take to complete the project, any milestones, and the payment after every milestone achieved and the total amount. Additionally, you must also clearly specify the taxes, fees, and other charges to be paid by the client.
5. Present the Totals
It is also important that you highlight the totals because many clients are concerned about the total payment and construction financial statements, and will immediately scan the page to see the final amount that they are going to pay. You can render it in bold, or you can double rule the final price.
6. Incorporate the Terms and Conditions and Supplementary Information
Both parties of the construction service must know and agree to the terms and conditions related to the transaction. Hence, you must reserve a section in your quotation where you present the terms and conditions and other notes that your potential client must know before he or she finalizes the transactions with you.
7. Add the Signature
Finally, the signature of the salesperson in charge of the transaction must be affixed at the bottom of the formal document confirming the legitimacy and validity of the construction quotation.
What is a Construction Quotation?
A construction quotation is a formal document in a sales transaction that is prepared by a construction firm or business and is sent to a potential client. This document contains the information that a customer needs to know, such as the raw materials needed and their respective prices, the labor required and the rate per hour, duration of time or schedule to complete the project, modes of payment, terms of payment, and validity date of the quotation.
What is the Difference Between a Construction Quote and estimate?
The main difference between a quotation and an estimate is that: a quotation is an agreed fixed price. an estimate is an approximate price that may change.
What is the Format of a Construction Quotation/
Format a quotation of 40 words or more as a block quotation, which involves starting the quotation on a new line and indenting the entire quotation by 1.27 cm or one-half inch (American Psychological Association, 2010, p. 171). Do not use quotation marks when formatting a block quotation.
Define a Formal Construction Quotation.
A formal quotation is a statement of promise, usually submitted in response to a request for quotation, by a 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.
What Elements Comprise a Remodelling Contract?
The components of a remodeling contract are:
- Job description/scope of work.
- Start and completion dates.
- Payment terms.
- Proper authorization – acquiring regulatory permits.
- Change order procedures/limits.
- A detailed outline of cost & materials.
- Proof of license, insurance, etc.