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A quote, also known as a price quote or sales quote, is a financial document used in the purchasing process, often created by suppliers for potential customers. It outlines a fixed price for goods or services that the customer wishes to buy. If the customer agrees to the quote, the price is locked in, giving the supplier a commitment to deliver at that price. This practice is common across various industries, including plumbing, electrical work, landscaping, and legal services. Understanding how to create and manage quotes is essential for business owners to effectively provide estimates and secure agreements with clients.