When you're running a business, things can change. Perhaps you've finalized a project, added new services, or your supplier costs have shifted. In such scenarios, the initial price you offered to a client might no longer be accurate. This is where a Revised Price Quotation Letter Sample becomes invaluable. It's a professional way to inform your client about an updated pricing offer, ensuring transparency and maintaining good business relationships.
Understanding the Revised Price Quotation Letter Sample
A Revised Price Quotation Letter Sample is a formal document that supersedes a previously issued quotation. It clearly outlines the changes in pricing and the reasons behind them. The importance of a well-crafted revised quotation lies in its ability to prevent misunderstandings and maintain trust with your clients. It's not just about changing numbers; it's about communicating effectively and professionally.
When crafting a revised quotation, consider the following:
- Clarity: Ensure the new pricing is easy to understand.
- Justification: Briefly explain why the revision is necessary.
- Professionalism: Maintain a courteous and respectful tone.
Here's a quick look at what typically goes into such a document:
| Section | Purpose |
|---|---|
| Header | Your company information, client information, date. |
| Subject Line | Clearly state it's a revised quotation. |
| Reference | Mention the original quotation number. |
| Explanation | Briefly detail the reason for the revision. |
| Revised Pricing | Clearly list the updated prices. |
| Validity | State the new expiry date of the offer. |
| Closing | Professional closing remarks. |
Revised Price Quotation Letter Sample for Scope Change
Subject: Revised Price Quotation - Project [Original Quotation Number] - Updated Scope
Dear [Client Name],
Following our recent discussion on [Date] regarding the scope of the [Project Name] project, we have updated the quotation to reflect the agreed-upon additions/changes. This Revised Price Quotation Letter Sample supersedes our previous offer dated [Original Quotation Date].
The changes primarily involve [briefly list the scope changes, e.g., the addition of module X, an increase in user licenses, additional design hours]. Based on these adjustments, the revised cost for the project is as follows:
Original Total Price: $[Original Price]
Additional Cost Due to Scope Change: $[Additional Cost]
Revised Total Price: $[Revised Price]
This revised quotation is valid until [New Expiry Date]. We are confident that these adjustments will ensure the successful completion of your project to your full satisfaction. Please let us know if you have any questions.
Sincerely,
[Your Name/Company Name]
Revised Price Quotation Letter Sample for Material Cost Increase
Subject: Revised Price Quotation - Order [Original Order Number] - Material Cost Adjustment
Dear [Client Name],
This letter serves as a Revised Price Quotation Letter Sample to inform you of an adjustment to the price of [Product/Service Name] for your recent order, reference number [Original Order Number]. Due to an unforeseen increase in the cost of raw materials from our suppliers, we must revise the pricing as follows:
The original quoted price per unit was $[Original Unit Price]. The revised price per unit is now $[Revised Unit Price]. This change impacts your total order value by an additional $[Price Difference].
We understand that price changes can be inconvenient, and we sincerely apologize for any disruption this may cause. This revision is necessary to maintain the quality of the products/services you expect from us. This revised quotation is valid for [Number] days from the date of this letter.
Thank you for your understanding.
Best regards,
[Your Name/Company Name]
Revised Price Quotation Letter Sample for Service Complexity Adjustment
Subject: Revised Price Quotation - Service Agreement [Agreement Number] - Complexity Update
Dear [Client Name],
This Revised Price Quotation Letter Sample pertains to our ongoing service agreement, [Agreement Number]. During our recent review of the service requirements for [Specific Service/Period], we identified an increased level of complexity that was not initially anticipated. This has led to a revision of the previously quoted price.
The original quotation for this service period was $[Original Price]. Due to the [mention specific reasons for complexity, e.g., intricate data analysis required, extended troubleshooting needed, higher-than-expected resource allocation], the revised price is now $[Revised Price].
We have detailed the additional tasks and their associated time/resource implications in the attached document. This revised pricing ensures that we can dedicate the necessary expertise and time to deliver the exceptional service you deserve. This revised quote is valid until [New Expiry Date].
We appreciate your continued partnership.
Sincerely,
[Your Name/Company Name]
Revised Price Quotation Letter Sample for New Features/Add-ons
Subject: Revised Price Quotation - Software License [License ID] - New Features
Dear [Client Name],
We are excited to announce the release of new, enhanced features for our [Software Name] software, which you are currently licensed under ID [License ID]. As per our previous communication and your interest, we are issuing this Revised Price Quotation Letter Sample to reflect the updated pricing that includes these valuable new functionalities.
The original license price was $[Original Price]. With the integration of [mention a couple of key new features, e.g., advanced reporting tools, AI-driven insights], the revised price for your license, including these upgrades, is $[Revised Price].
This revised price reflects the significant added value and enhanced capabilities that will benefit your operations. This offer is valid until [New Expiry Date]. Please contact us to discuss the implementation of these new features.
Warm regards,
[Your Name/Company Name]
Revised Price Quotation Letter Sample for Currency Fluctuations
Subject: Revised Price Quotation - International Shipment [Shipment ID] - Currency Adjustment
Dear [Client Name],
This Revised Price Quotation Letter Sample is to inform you about a necessary adjustment to the price of your international shipment, reference [Shipment ID]. Due to significant fluctuations in the exchange rate between [Your Currency] and [Client's Currency], the cost of this shipment has been affected.
The original quotation was based on an exchange rate of [Original Exchange Rate]. The current exchange rate has led to an increase in our landed costs. Therefore, the revised price for this shipment is $[Revised Price], an increase of $[Price Difference] from the original quote.
We monitor exchange rates closely to minimize such impacts, but this current volatility necessitates this revision. We apologize for any inconvenience. This revised quotation is valid for [Number] days.
Thank you for your understanding.
Sincerely,
[Your Name/Company Name]
Revised Price Quotation Letter Sample for Increased Overhead Costs
Subject: Revised Price Quotation - Service Contract [Contract Number] - Overhead Adjustment
Dear [Client Name],
We are writing to provide an update regarding our service contract, [Contract Number]. This Revised Price Quotation Letter Sample is to reflect necessary adjustments to our pricing due to increased overhead costs. These include rising utility expenses, increased insurance premiums, and higher operational expenditures.
The current pricing for the service period was established with the assumption of lower operational costs. To continue providing you with the high-quality service you expect, we must implement a revised pricing structure. The original monthly rate was $[Original Monthly Rate]. The revised monthly rate will be $[Revised Monthly Rate], effective from [Effective Date].
We have absorbed these increased costs for as long as possible and believe this adjustment is essential for the sustainable delivery of our services. We value your business and are committed to transparency.
Best regards,
[Your Name/Company Name]
Revised Price Quotation Letter Sample for Supplier Price Hike
Subject: Revised Price Quotation - Product Order [Order Number] - Supplier Price Increase
Dear [Client Name],
This Revised Price Quotation Letter Sample is in relation to your recent order, [Order Number], for [Product Name]. We have recently been notified by our primary supplier of [Component/Material Name] that their prices will be increasing significantly, effective immediately.
As a result, the cost of producing [Product Name] has increased. The original quoted price per unit was $[Original Unit Price]. The revised price per unit will be $[Revised Unit Price]. This results in an increase of $[Price Difference] per unit for your order.
We have explored all possible alternatives to mitigate this impact, but this supplier price hike is unavoidable. We apologize for any inconvenience this may cause and thank you for your understanding of this situation. This revised quotation is valid until [New Expiry Date].
Sincerely,
[Your Name/Company Name]
Revised Price Quotation Letter Sample for Clarification of Terms
Subject: Revised Price Quotation - Proposal [Proposal Number] - Clarification of Terms
Dear [Client Name],
Following up on our proposal [Proposal Number] for [Project Name], we've realized a need to clarify certain aspects of the pricing structure to ensure mutual understanding. This Revised Price Quotation Letter Sample is issued to provide greater detail and, where necessary, adjust the pricing based on a clearer definition of the agreed-upon terms.
Specifically, we want to clarify the scope of [mention specific term, e.g., "support hours," "delivery timeline," "asset management"]. Our previous quotation assumed [original interpretation]. Upon further discussion, we understand that [client's interpretation/needs]. To accurately reflect this, we have revised the pricing as follows:
- Original Price for [Item]: $[Original Price]
- Revised Price for [Item] (with clarified terms): $[Revised Price]
- Total Revised Project Cost: $[Total Revised Price]
This revised quotation ensures that the pricing accurately reflects the services we will provide to meet your specific requirements. This offer is valid until [New Expiry Date].
Thank you for your attention to this clarification.
Best regards,
[Your Name/Company Name]
Revised Price Quotation Letter Sample for New Tax Regulations
Subject: Revised Price Quotation - Invoice [Invoice Number] - Tax Regulation Update
Dear [Client Name],
This Revised Price Quotation Letter Sample is to inform you about a necessary adjustment to the pricing of your recent invoice, [Invoice Number]. This change is due to new tax regulations recently implemented by [Tax Authority Name], which affect the final cost of [Goods/Services].
The applicable tax rate has changed from [Old Tax Rate]% to [New Tax Rate]%. This necessitates an update to the total amount due on your invoice. The original total amount was $[Original Invoice Total]. The revised total amount, including the updated tax, is $[Revised Invoice Total].
We are committed to complying with all legal requirements and apologize for any inconvenience this adjustment may cause. Please update your payment accordingly. This revised invoice is now valid.
Sincerely,
[Your Name/Company Name]
In conclusion, a Revised Price Quotation Letter Sample is a vital tool for maintaining professional integrity and ensuring clear communication in business transactions. Whether it's due to scope changes, material costs, or unforeseen circumstances, using a well-structured revised quotation demonstrates your commitment to transparency and builds lasting trust with your clients.