Download these 10 Free Sample Product Quotation Templates with Price Expiry Notice to prepare your own quotation.

Price quotation is a very common document that is used by businesses, vendors and suppliers. When a customer reaches you, he asks for the prices of products and services you offer. In return, you provide him with an official price quotation. This price quotation is usually valid for a certain period of time. Once the validation is over, the quotation expires but only when you mention this statement on the quotation and formally inform the customer about it. This is why when anyone gets a price quotation, price expiry statement is always mentioned on it.

Importance and purpose of Price Expiry Notice:

It’s not very hard to understand the basic purpose and need of a Price Expiry Notice. As a business owner or vendor, you know that prices for your products or services go up and down every now and then and as the economy of the country changes, you have to change the prices as well. In this situation, what if you give a quotation to a client and he wants to use it after a month or two when you have increased the prices for the products or services. You can’t refuse the quotation because it’s a legal document and you can’t certainly accept it because it’s a sure loss. This is why it’s really important that when you prepare price quotation for any customer or client, you put expiry date notice on it.

It’s not important or mandatory to put exact quote of expiry date but there are many other ways to do so. A simple way to inform the customer about the expiry of the price quotation is to mention the date on which you issued the quote and the date on which it will expire i.e. 15 days or 1 month.

Another way is to put an expiration date on the bottom of the quotation without mentioning when you issued it or what’s the validation of the quotation is. Another very common practice is to just include a statement that even if you have issued the official price quotation, you have the right to change the price any time you want without notifying the clients or customers.

Using Product Quotation Templates

There is no legal way to define a certain expiry for your quotation but it mostly depends on what kind of products or services you offer. Besides the factor that you can define any expiry date for your price quotations from 1 week to 1 year, the most important thing is that once you have mentioned the statement on the price quotation, it’s legal and whether you like it or not, you will have to supply the products on that specific price to the customer. From a simple shopkeeper who just sells books to a company that provides IT solutions to organizations and corporations, price expiry notice is used in almost all kinds of product quotations and it’s not just limited to only products but services also have specific time limit for the charges or prices.