In casual conversation, we use "estimate" and "quote" interchangeably. In business and law, they are opposites. Using the wrong one can trap you in a contract where you lose money, or scare away a client who wants certainty.
The Quote: Fixed & Binding
A Quote is a fixed price offer. Once the client accepts it, you cannot change the price, even if the work takes twice as long as you thought.
- Risk: High for the freelancer/contractor.
- Best for: Standardized jobs (e.g., "Install 5 windows").
The Estimate: An Educated Guess
An Estimate is a rough idea of the price based on current information. It is generally not legally binding to the exact cent, though it should be reasonably accurate (usually within 10-15%).
- Risk: Shared between client and contractor.
- Best for: Unpredictable jobs (e.g., "Repair water damage in walls").
When using our Quotation Generator, you can edit the title document. Be sure to choose the right one!