PortzApp logo
Procurement and RFQs

Quotation

A provider's priced offer describing the goods or services, quantities, taxes, validity and commercial conditions proposed. In maritime procurement, the concept helps buyers and providers define, price, compare and authorize operational requirements.

What a quotation is

  • A quotation is the provider’s offer, made in reply to a request.
  • It is time-bounded. It lapses when its validity period expires.
  • It binds only what it lists, so the exclusions matter as much as the inclusions.
  • In maritime the validity window is short, because rates, availability and exchange rates all move.

Quotation is a term used in maritime business and operations.

A supplier’s priced offer describing the goods or services, quantities, taxes, validity and commercial conditions proposed.

In maritime procurement, the concept helps buyers and providers define, price, compare and authorize operational requirements. The exact meaning may vary with the contract, jurisdiction, port practice or workflow in which it is used.

Quotation, estimate and proforma invoice

Document
What it mean
Quotation
A firm offer of price and terms for a stated scope, open for acceptance until it expires.
Estimate
An indication of likely cost, not an offer. It carries no commitment to the figure given.
Proforma invoice
An invoice-shaped document issued before the work or delivery, setting out expected charges or requesting funds in advance. It offers no terms.

A quotation before and after acceptance

While it stands
Once accepted
The price is held only for the validity period.
The price is fixed for the agreed scope.
The provider is offering, not committed to deliver.
The provider is committed to deliver what was quoted.
The buyer carries no obligation.
The buyer is committed to pay for the agreed scope.
It can be revised or withdrawn before acceptance.
Changes are handled as a variation to the agreed scope.
Quotations in PortzApp

One response per request

In PortzApp a provider gives one response to a request. A change goes through a revision of that quotation rather than a second quote, so the buyer always compares one current offer from each provider.

How quotations and revisions work
FAQ

FAQ

The most common questions we get about Quotation.

What does Quotation mean?
A provider's priced offer describing the goods or services, quantities, taxes, validity and commercial conditions proposed.
How long is a quotation valid?
For the period stated on it. Once that passes it lapses, and the provider is free to reprice.
Is a quotation binding on the provider?
While it stands, it is an offer capable of acceptance. It carries no obligation for the buyer, who is free to accept it, let it lapse, or accept another.
Why do quotations for the same job differ so much?
Often because they do not cover the same scope. The difference usually comes from what each provider included, excluded or assumed, rather than from the rate itself.