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What is the difference between an estimate and a quotation?

April 26, 2017difference estimate quotation

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What is the difference between an estimate and a quotation?

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An estimate is a guide to the price, a quotation is an agreed price. If you have only had an estimate then the price you are eventually charged may be more, but it must still be reasonable. If, however, you have had a quotation then legally you are not obliged to pay any more.