quote

This term operates in two distinct spheres: literary attribution and commercial estimation. In a literary sense, it implies a commitment to accuracy and fidelity to the original source, often used to provide authority or evidence in academic and journalistic writing. In a commercial context, it refers to a fixed price offer. While a quote is typically a binding agreement once accepted, it differs from an estimate, which is a rough approximation. The word is used frequently in business transactions to establish financial expectations before work begins.