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A quote is a financial document essential in the purchasing process, often referred to as a price quote or sales quote. It is typically generated by suppliers of goods or services and presented to potential customers. Common examples of businesses providing quotes include plumbers, electricians, and lawyers. A quote outlines a fixed price for specific goods or services that both the customer and supplier can agree on. Once the customer accepts the quote, the price is locked in, ensuring that the supplier is obligated to provide the agreed services or products at that price. This process is crucial for business owners managing client expectations and financial agreements.