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A quote is a financial document integral to the purchasing process, often referred to as a price quote, sales quote, or quotation. It is typically created by suppliers for potential customers, outlining a fixed price for specific goods or services. Commonly encountered in industries like plumbing, electrical work, landscaping, and legal services, quotes allow customers to agree on a price before proceeding. Once a customer accepts a quote, the price is locked in, ensuring both parties are clear on the terms of the transaction. This process is essential for business owners to effectively manage their finances and client agreements.