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Free price quote template (Word)

Reviewed by Clausery editors · · 3 min read

A formal document from a seller to a prospective customer stating a fixed price for specified goods or services, with breakdown, terms, and an expiration date (validity period) by which the customer must accept.

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A price quote (or quotation) tells a customer how much you will charge for specific goods or services. It is fixed for a stated period (commonly 30 days) so the customer can accept, after which you provide the goods/service and invoice.

Quotes differ from estimates (which are approximate). Once accepted a quote usually forms the basis of the contract. Itemise clearly so there is no ambiguity about scope.

What to include#

  • Business and customer. Your business name, logo, address and contact; customer name, address and contact; quote number and date.
  • Scope / items. Description of each line item (goods or services), quantity, unit price, line totals, and any assumptions or inclusions/exclusions.
  • Pricing totals. Subtotal, discounts, taxes (VAT/GST/sales tax), shipping/expenses if known, and total price.
  • Terms and validity. How long the quote is valid (e.g. 30 days), payment terms (deposit required, milestones, net terms), delivery timeline, and any exclusions.
  • Acceptance. Statement that the customer can accept by signing and returning or paying the deposit; space for customer signature/date.

How to fill it in#

  1. Step 1: Understand the scope

    Clarify requirements before quoting — misquoted scope kills profit.

  2. Step 2: Itemise, do not lump

    Break out labour, materials, expenses and taxes so the customer sees what they are paying for.

  3. Step 3: State assumptions

    List anything assumed (access, client-provided materials, working hours) so they can be challenged before acceptance.

  4. Step 4: Set a validity period

    Quotes typically expire in 14-30 days to protect you from material-price changes and schedule drift.

  5. Step 5: Get acceptance in writing

    Have the client sign and return (or pay deposit) before starting work; issue an invoice against the accepted quote.

Purchase order

Customer PO usually follows an accepted quote.

Editable invoice template

Invoice against the accepted quote once work is done.

Credit note

Adjust if something changes after invoicing.

Statement of work

For larger projects a SOW replaces or accompanies the quote.

Free invoice templates

Editable invoices in Word/Excel/Google/PDF.

Questions

Quote vs estimate?

A quote is a fixed price the customer can accept; an estimate is an educated guess that may change. Use quotes for well-defined work.

How long should it be valid?

14-30 days is standard; shorter for volatile material prices or time-sensitive offers.

Can I change the price after acceptance?

Only via a change order agreed in writing; otherwise the accepted price is the contract price.

Should I include tax?

Yes — show net, tax and gross so the customer knows the total; customers hate surprise tax.

Is a verbal quote binding?

Harder to prove — always put quotes in writing to avoid disputes.

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These are general templates, not legal or tax advice. Have anything unusual reviewed for your jurisdiction.

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