Quotation vs Estimate: What's the Difference?

Quotations and estimates are similar documents sent before work begins, but they carry slightly different meanings.

Quotation

A quotation is typically a fixed, more precise price for clearly defined work. Once accepted, it usually doesn't change, making it more binding than an estimate.

Estimate

An estimate is an approximate cost based on the information available at the time, often used when the full scope isn't yet finalised — for example, in construction or contracting work where unexpected factors can affect the final price.

Which should you send?

• Use a quotation when you know the exact scope and can commit to a fixed price.
• Use an estimate when the final cost may vary and you want to set expectations without a binding commitment.

InvoiceKart offers both a free quotation generator and a free estimate generator, built on the same reliable calculation engine.