What is the difference between a Price Quote, Sales Order & Invoice
Insight Assessment assists clients with purchases by providing three kinds of documents: Price Quotes, Sales Orders and Invoices.
Price quotes are price estimates based on our discussions of your testing needs. Price quotes are free of charge, are binding on Insight Assessment if accepted in writing before they expire, which is typically 30 days, but not binding on you. If you do not wish to accept an unexpired price quote, you may decline it or request a new price quote as your plans change or the parameters of your project become more defined. For example you may request a quote for a different number of tests, a different testing instrument, or a different mode of test administration.
Sales orders represent our mutually binding contract to provide the enumerated products and services you have ordered for the dollar amount specified therein. Generation of a sales order will automatically prompt our fulfillment department to ship your order or activate your digital testing account and produce an invoice. A sales order requires documentation. Examples include an email or fax in which you place the order, or a government contract, or a signed price quote, or organizational purchase order. Conditions of sale are included on sales orders.
Invoices are demands for full or partial payment on past or future products and services and are due and payable within 30 days to avoid accrual of interest and/or late payment fees. Some established domestic clients, for example, receive an invoice each month for testing that has occurred in the prior month.