What Does 'Blanket Quotation' Mean?


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Julii Brainard answered
Usually, when a firm "quotes" for a service, they do it as a one-off quote, limited to a specific single job, under certain terms and conditions, for a price only good if the work is agreed upon by a certain date.

A blanket quotation is different in that it is normally good for a longer time window, and it is meant for the situation when there might be many repeat orders of the same goods / services. So the buyer or vendor can just refer back to the same original quotation to know what the terms of the deal are, each time a new order is put in.

In practice, a blanket quotation might just be the paperwork stating what the current price of goods or services are offered by a firm. There is still a tacit or explicit time limit for how long the quote is good for.

Essentially, a blanket quote is a type of open account with preset conditions

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