Quotation 

Definition

Legally binding agreement to deliver specific products or a selection of a certain amount of products in a specified timeframe at a pre-defined price.

A quotation has a validity period. Within the validity period, the customer has the option of placing an order within the agreed conditions with reference to the quotation, or to cancel a contract.

Integration

Quotations are sales transactions, that is, transaction types with the business transaction category sales transaction. The business function for quotations is found at item level for a business transaction. Only the Quotation system status flags them as quotations. A business transaction can, for example, also contain services or order items, in addition to quotation items.