Thread: 15x4 foot wall
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  #18  
Old 04-02-2013, 01:27 AM
Stillwater Stillwater is offline
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Join Date: Mar 2006
Location: The United States
Posts: 4,250
It is important to understand the most basic business terminology


Bids - you indicate the price you'd charge to build something or do some work that has been clearly defined by a potential customer.

Estimates - you approximate the price you'd charge to do less-clearly defined work, based on whatever limited information is available.

Proposals - you interpret a potential customer's loosely expressed wishes, specify in detail how you'd meet their needs and how much you'd charge to do it the way you're proposing.

Contracts - a binding agreement between you and a customer, complete with caveats and contingency plans explaining who must do what to hold up their end of the bargain.
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