Finance – Construction quote example

Construction quote example

Construction quote example: Make your construction quotes more professional

What's is a construction quote?

The phrase construction quote can take on different meanings for different construction companies, and different people interacting with those construction companies.

You may also see and hear construction estimate, bid and proposal used interchangeably with the term construction quote - although there are some recognisable differences.

Construction quotes are generally accepted as being the price in which a contractor, supplier or other construction party needs in payment in order to fulfil a job.

Construction quotes from suppliers are the clearest kinds of quotes, with a straight up quote for some materials and an expiry date on that quote.

A contractor or subcontractor quote and estimate are very similar and largely interchangeable. Both give the purchasing party or payer an estimated price as well as a breakdown of the raw materials and labour required to deliver a project.

Depending on the project and parties involved, the construction quote may be accepted or rejected, or the payer may want to see an official bid or proposal on top of or in addition to the quote. Usually participating parties make it clear what is required, and the companies can fulfil the duties (especially when it's about getting paid).

Construction quotes are at the heart of the construction industry - and they have been for many years.

Companies work incredibly hard on delivering quality assets and being great construction companies, but they can fall short when it comes to developing and managing important financial information and documents like construction quotes.

Construction quote example

So what does a construction quote actually look like?

The construction quote example below will help to showcase one for you.

Construction quotes can vary quite widely from company to company, and you can probably find tens or hundreds of different construction quote templates.

But all of these quotes will also share some common features which enable the quoter or payee to communicate their price to the payer.

Some of these features, which you can expand in the construction quote example below include:

General quote information

It's very common for construction companies and large scale asset owners to be receiving and accepting a number of quotes at the same time, so it's imperative that each construction quote features all of the necessary record keeping information.

At a minimum, this includes the obvious additions of the company or contractor name, details and contact details - as well as who the quote was prepared for.

Quote details

How much detail the quote contains will depend on where the quote sits in the buying or bidding process, and whether proposals and more detailed scope of work documents are being used.

But a construction quote will typically include some level of project detail, similar to the quote example below.

In this construction quote example, a pretty detailed description of work, site of work and scope of work has been included to supplement and support the financial quote on the second page (hover to view the entire quote).

Job quote

Next up is the central and main part of the quote - the construction job quote.

In this quote example, the quote has been assembled in a table format, which outlines the types of costs associated with the project - as well as the quoted amount for each cost type.

Some construction quotes may include sub-items for a more detailed breakdown, while simple jobs may only have a single cost type and quote.

Quote conditions and details

Construction quotes are often contractual documents, which is why some quotes will include some detail around conditions and other details.

In this section of a construction quote, a contractor, subcontractor or other party may outline a high level schedule as in this example, and highlight things like payment terms as well.

Once again, how much or how little detail is included in the quote will depend on a number of factors - but this construction quote example is concise and comprehensive.

Agreed and accepted

The most important part of a construction quote is that both parties can agree on a price for the work which needs to be done.

As with most agreements, your quote should feature a section or sections for parties to sign off on the document and accept the quote - so that work can begin in accordance to the agreements made within the quote.


Construction quote example

Use and edit this construction quote example for free.

Other construction quote examples

The construction quote example above features a detailed breakdown of different cost types as well as detailed descriptions around the project.

To provide you with more than one construction quote examples, the construction quote below resembles more of what you would be likely to see from a home builder or small scale construction project.

As you can see, the same framework has been used and relied upon, but there is just a little less detail required (because the job is less complex).

Once again, you can hover over the construction quote example below to expand it and see the first and second page in more detail - to get a good look at what a professional quote should look like.

Construction quote examples

Standardising your construction quotes and financial documents

The problem with construction quotes, like many construction management documents and forms, is that they require a fair amount of time, coordination and management - all of which construction companies don't have a lot of time for.

Luckily for construction companies of all sizes, project management softwares have dramatically improved in the last few years, enabling construction companies to streamline and automate many of these important but time-consuming processes - without too much up-front cost or friction.

Today, construction companies can manage all of their financial templates and forms with a single system - instead of jumping back and forth between word, excel, PDF and folder structures.

Construction quote example

In addition to being able to manage master templates digitally, and simply clone and adjust construction quotes and other documents as you go, companies using these systems can instantly generate PDF quotes which look and feel professional.

This cuts down on the time spend formatting documents and moving information around, and standardises the way that all of the companies finances and documents are managed.

And construction quotes aren't the only financial forms which can be improved. A good financial software for project delivery will enable companies to consolidate and improve their project timesheets, purchase requests, and lien forms.

The future of construction quotes and commercial collaboration

Construction quotes haven't changed much for most construction companies in the last 50 years. In fact, many companies still use paper and pen or PDFs to manage and send construction quotes to other parties and clients.

And while some companies have adopted softwares to improve this aspect of their business, it's the next few years which are going to have an incredibly tangible impact on construction quotes and other commercial collaboration.

Software, apps and automation will streamline how companies send and receive construction quotes and other information, while real-time project tracking and more accurate project estimating will automatically populate quotes and make them far more accurate for both the contractor or subcontractor and the client or asset owner.

Purchase order software construction

The way in which companies and teams communicate and manage their work internally has come a long way in the last 10 or 15 years, mostly thanks to new tools and technologies.

But in the construction industry, companies don't operate or succeed in a silo. In fact, the success of a construction company is solely dependent on the success of of their projects, which is highly dependent on how well other contractors and subcontractors work with them and deliver too.

The next phase for construction quotes and other collaborative documents and tools is to jump across company lines and bridge the gap and reduce the friction which has been eroding time and decreasing progress for construction companies for a long time now.

And it can all start with construction quotes - and taking advantage of the digital construction quote examples you saw today.

People in 80+ countries use this financial software to better capture, organise and track project finances.

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About Lance Hodgson

Lance is VP of Marketing at Sitemate. His aim is to bring awareness to a brighter future for the Built World where industrial workers and companies work smarter.

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