A quotation is a technical reference sheet that covers the details of the product you wish to buy from a company/firm/shop. It comprises a full description of the product, price information (including taxes, shipping, and so on), seller information, and the person who will be in contact with you, among other things. Following the receipt of the estimate, the production team will make a decision depending on the budget set aside for each project. If they are pleased, they will issue a purchase order “PO” to purchase the materials.