In some cases, it means a great deal how you word your proposal to a client. Calling your proposal an estimate, job quote or statement of work (SOW) can mean different things to the client, and to the law. 

• As estimate is a "guestimate" or an approximation. Estimates are flexible and in most cases, negotiable.
• A quote provides your client with an exact price for the job or project. Quotes are exact, and in some cases, more legally binding than an estimate.
• A Statement of Work seeks to define liabilities, responsibilities and work agreements between two parties. It allows you to manage expectations and add a layer of detail about what the project will and will not cover.

Freshbooks - Quote vs Estimate Your Traderbase - Estimate vs QuoteBradley Gross does a much better job of explaining these than I do. Check out two of his podcasts on this topic.Technology Bradcast 41 - Quotes: How Long? How Detailed? How Terrifying!Technology Bradcast 21 - Quote vs Proposal vs SOW: A PrimerLaw Office of Bradley Gross – Business Technology Law=== Other links for items mentioned in this showTechcon Unplugged: Use discount code ITBP75OFF and save $75 off the ticket price. === Show InformationWebsite: https://www.itbusinesspodcast.com/Host: Marvin BeeUncle Marv’s Amazon Store: https://amzn.to/3EiyKoZBecome a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?One-Time Donation: https://www.buymeacoffee.com/unclemarv=== Music: Song: Upbeat & Fun Sports Rock LogoAuthor: AlexanderRufireLicense Code: 7X9F52DNML - Date: January 1st, 2024