When Importers source new products and connect with Exporters, the exporter will offer their product details and pricing information. The Exporter must ensure that all information is clearly stated in a correctly formatted Quotation document. This will ensure that there are no disputes relating to product quality, specifications, pricing and delivery terms.
An example of a Quotation document created using IncoDocs:
After all of the details have been confirmed in the quotation document, the buyer can decide to place the new order. The buyer will then usually issue a Purchase Order document to confirm to proceed with the manufacturing and shipment. The seller will then issue a Proforma Invoice document that will reconfirm the goods on order and include their bank details to request payments.
What information is included on an Export Quotation Document?
Seller’s company name, address and contact details
Buyer’s company name, address and contact details
Product Description – including item codes, description, specifications
The selling terms agreed (IncoTerm) – Refer IncoDocs’ IncoTerms Graph
Payment Terms – as negotiated between buyer and seller
Estimated supply lead time
Estimated shipping details (vessel name & ETD, if known)