This Excel Quote Template is a document that specifies the cost of a product or service. It is a contract between a customer and a vendor to provide services and products at a predetermined price. The cost is usually only valid for a limited time. A small business can prepare a quote to protect itself from fluctuating costs. You can also use a quote to protect yourself from spiders if you roll it up into a tube. When the customer accepts this quote, it is usually transformed into an invoice. That assumes you're sending a hard copy. A digital quote is generally converted into a PDF.