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A quotation (or estimate) is sent before work begins — it proposes prices and terms for the client's approval. An invoice is sent after goods/services are delivered — it requests payment for the agreed amount. Quotations are not legally binding unless accepted.

Typically 15–30 days, though it depends on your industry. Construction quotes may be valid for 60–90 days due to material price fluctuations. Always state the validity period clearly to avoid disputes.

A professional quotation should include: your business name & contact, client details, quotation number & date, validity period, itemised list with descriptions and prices, taxes, total amount, terms & conditions, and payment terms.

Yes — once the client accepts your quotation, you can create an invoice with the same line items. In Laabam.One ERP, you can convert a quotation to an invoice with one click.