What does a quotation represent in building services?

A quotation in building services signifies a fixed price for the work that has been agreed upon between the service provider and the client. It provides a detailed declaration of the costs associated with a specific job or project, outlining the scope of work, materials required, and timelines involved. By being a fixed price, it allows clients to have clarity on the financial commitment and other arrangements before the commencement of the work. This clarity helps both parties manage expectations, budget accordingly, and avoid unexpected costs down the line.

In a professional setting, when a quotation is accepted, it often becomes a binding contract, ensuring that the agreed-upon terms are upheld. This contrasts with approximations or breakdowns of costs, which may be subject to change, and the concept of energy efficiency ratings, which focuses on performance indicators rather than financial agreements. Understanding the distinction between these concepts is crucial for effective financial management in building services.