What is an Export Quotation document?
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.
Some Exporters are still creating broken quotation documents using MS Word or Excel. Often these quote documents are missing vital information which causes confusion and disputes between the buyer and seller. Also, a badly formatted quote document reflects badly on the company that is offering the goods for sale. Watch this video to learn how Exporters can easily create a quotation document when communicating with buyers.
How to Create a Quotation Document Template for Export.
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.
Read more on the Purchase Order / Proforma Invoice process here.
Use IncoDocs to get your Buyers to confirm more orders.
Exporters use IncoDocs to create and share quote documents with buyers. Buyers can instantly ‘Accept’ quotations, then instantly create Purchase Order documents back to you.
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
- Product Quantity
- Product Pricing
- The selling terms agreed (Incoterm) – Refer Incoterms Graph
- Invoice Currency
- Shipment Type
- Payment Terms – as negotiated between buyer and seller
- Estimated supply lead time
- Estimated shipping details (vessel name & ETD, if known)