---
{
	"_label": "Supplier Quotation"
}
---
A Supplier Quotation is a formal statement of promise by 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. Acceptance of quotation by the buyer constitutes an agreement binding on both parties.


You can make a supplier quotation from a Material Request



![Supplier Quotation](img/supplier-quotation-f.jpg)



You can also make a Supplier Quotation directly from:

> Buying > Supplier Quotation > New Supplier Quotation



![Supplier Quotation](img/supplier-quotation.png)




If you have multiple **Suppliers** who supply you with the same **Item**, you usually send out a message (Request for Quote) to various **Suppliers**. In many cases, especially if you have centralized buying, you may want to record all the quotes so that 

- You can easily compare prices in the future 
- Audit whether all Suppliers were given the opportunity to quote.

Supplier Quotations are not necessary for most small businesses. Always evaluate the cost of collecting information to the value it really provides! You could only do this for high value items.

