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A quote is a financial document used in the purchasing process, also known as a price quote, sales quote, or quotation. It is typically created by suppliers for prospective customers and outlines a fixed price for goods or services. Customers often encounter quotes when working with various service providers like plumbers or electricians. If a customer accepts the quote, the price is locked in, signifying an agreement between the customer and supplier for the delivery of the requested goods or services. Understanding quotes is essential for business owners when providing clients with pricing information.