Glossary
Quotation
A quotation is a supplier's formal offer in response to an RFQ, stating price, quantity, delivery date, validity period and commercial terms.
Where it appears in procurement
Quotations are compared on more than unit price: total cost including shipping, lead time against the required date, validity, and whether the required compliance evidence is included.
Example
Supplier A quotes EUR 0.31 per unit, 21 days, shipping EUR 400, valid 30 days, with a declaration of compliance attached. Supplier B quotes EUR 0.28 but 45 days and no documents.
In Complyra
Suppliers submit quotations through the Complyra supplier portal with quantity, unit price, total, currency, delivery date, shipping cost, validity and notes. Quotations are collected against the RFQ and compared side by side.