With the advent and adoption of globalization, import-export is at an all-time high across the world. Advancement in information and communication technology complemented with- strategic geopolitical, economical tie-ups, improved trade routes via-rail, road, sea and air have further bolstered the trade activities. International trade is a multifaceted trade activity involving multiple stakeholders, credits, investments, extensive security & safety clearances, negotiations, relation building and immense brainstorming. It becomes imperative for the seller to create appropriate export quotation for long-term business associations with buyers across the globe and stand ahead in the cut-throat competition. Hence, all the stakeholders involved both directly and indirectly should have a thorough understanding of the meaning, importance and creation of the export quotation.

What is Export Quotation?

For a smooth business functioning and better decision making, importer i.e. buyer asks for a document known as export quotation from different exporter i.e. seller. The document cites the product quantity, description, price per unit and the total cost for the order. In common terms, it can be understood as a Performa Invoice or an offer of business that promises the client to offer products or services at the rates, terms and conditions as mentioned in the document.

Components Of An Export Quotation

To keep things concrete and transparent, an export quotation should contain the following details-

• Exporter’s Details- Name of the organization and its SPOC (Single Point Of Contact), address, e-mail, fax, telephone/mobile number, PAN, registration number (such as GST), etc.
• Importer’s Details- Same details against the parameters as specified above for the exporters
• Product Details- HSN Code, description, quantity, unit price, and total price.
• Freight Carrier’s Details- Same as that of the exporter/importer.
• Freight Details- Vessel name, type of shipment (LCL/FCL)
• Type of quotation- C&F, C.I.F., F.O.B., C.W.O. and many others. It specifies the costs to be borne by the exporter such as- freight charges, clearing and forwarding charges, insurance, etc. and the credit/advance involved.
• Type of dispatch- (sea/ air/land), port of loading, and port of discharge.
• Medium of exchange i.e. currency type, estimated time of delivery, terms of payment
• Other relevant terms & conditions, guarantee, certifications, proofs and permissions as an attachment.

How To Create An Export Quotation?

Import & Export trading has changed radically as most of the documentation, permissions, clearances and payments have transitioned from offline to online mode. This has smoothened and expedited the process making it more efficient and user-friendly. For an easy export quotation follow the following simple steps-

• Post your research get connected with some reputed and experienced online logistic service providers. Make sure, the service provider keeps the documentation proceedings simple and it is a single point for all the required services.
• Create your online profile on the website of the logistic service provider.
• Share the requirements with the service provider on its website through your profile.
• Input the cargo details, boarding and destination point, cargo weight and size, type of shipment i.e. LCL, FCL and quotation type mentioning the costs such as- insurance, customs & excise, tax, loading, clearing and forwarding charges, etc. under your scope as per your discussion with the prospective importer.
• The logistic provider will enable you to select the freight carrier which suits you the best on the basis of freight charges, estimated delivery time, vessel type, safety and insurance of the given cargo out of the given list of the freight carriers.
  

All these can be done simply from your mobile or laptop with a steady internet connection at the click of your mouse. The process of creating and sharing online export quotations is fast, transparent and there are no hidden charges. It protects you from the hassles of approaching different stakeholders via emails, calls and office visits and saves time and money. 

Export quotation gives you and your prospective client enhanced cost visibility for better planning, coordination, sound business development and also keeps both the parties at par. Thus, a good export quotation safeguards the interests of both the seller and the buyer.