Quotation Doc Template for New Zealand
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What is a Quotation Doc?
The Quotation Doc is a fundamental business document used in New Zealand commercial transactions to present a formal offer for goods or services. It serves as an essential tool for business negotiations and potential contract formation, providing detailed pricing, specifications, and terms of supply. This document type is particularly important in the New Zealand context as it must comply with specific legislative requirements, including the Contract and Commercial Law Act 2017, Fair Trading Act 1986, and GST regulations. The quotation should be structured to protect both parties' interests while maintaining clarity and transparency in commercial dealings. Typically used in both B2B and B2C contexts, it forms the foundation for subsequent business transactions and may convert into a binding contract upon acceptance.
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Frequently Asked Questions
Is a quotation document legally binding in New Zealand?
A quotation document is generally not legally binding until accepted by the customer under the Contract and Commercial Law Act 2017. However, once accepted, it forms a valid contract that both parties must honour. The quotation becomes legally enforceable when there is clear acceptance, consideration (payment), and intention to create legal relations.
How long is a quotation document valid in New Zealand?
Quotation validity periods vary but typically range from 7-30 days unless otherwise specified in the document. Under New Zealand law, you must clearly state the expiry date to avoid disputes. After expiry, the quotation loses its legal effect and cannot be accepted to form a binding contract.
Can I withdraw a quotation before acceptance in New Zealand?
Yes, you can generally withdraw a quotation before acceptance under New Zealand contract law. However, the withdrawal must be communicated to the potential customer before they accept the offer. Some exceptions apply if the quotation specifically states it's irrevocable for a certain period.
Difference between a quotation and an estimate in New Zealand law?
A quotation is a fixed price offer that becomes binding when accepted, while an estimate is an approximate cost indication with no legal obligation. Under the Fair Trading Act 1986, quotations must be accurate and not misleading, whereas estimates allow for reasonable variation in final pricing.
Must I include GST in my quotation document in New Zealand?
If you're GST-registered, you must clearly state whether GST is included or excluded in your quoted prices. The quotation should specify the GST amount or rate to comply with GST regulations and avoid disputes. Non-GST registered businesses should clearly indicate no GST applies.
Common mistakes when creating quotation documents in New Zealand?
Common errors include unclear GST treatment, missing expiry dates, vague scope descriptions, and failure to include important terms and conditions. Many businesses also forget to specify payment terms, delivery timeframes, or variation procedures, which can lead to disputes under the Contract and Commercial Law Act 2017.
Consequences of providing an incomplete quotation document in New Zealand?
Incomplete quotations can lead to contract disputes, claims under the Fair Trading Act 1986 for misleading conduct, or unenforceable agreements. Missing essential terms like scope, price, or timeframes may result in the quotation being legally invalid or leave you exposed to customer complaints and potential legal action.
About the Quotation Doc
A Quotation Doc is your formal proposal document that outlines the specific terms, pricing, and conditions under which you're willing to provide goods or services to a potential client. In New Zealand's commercial environment, this document serves as more than just a price list—it's a legally significant offer that can form the basis of a binding contract once accepted by your client.
When do you need this document?
You'll need a quotation document whenever you're responding to a request for pricing from potential clients, whether you're a tradesperson quoting for home renovations, a supplier providing wholesale goods, or a service provider outlining project costs. Construction companies use quotations to detail labour and materials for building projects, while IT consultants provide quotes for software development or system installations. Professional services firms, from accountants to marketing agencies, rely on quotations to clearly communicate their fees and scope of work before commencing client engagements.
Key legal considerations
Your quotation must contain accurate and truthful information to comply with the Fair Trading Act 1986, which prohibits misleading or deceptive conduct in trade. Include clear expiry dates to control when your offer remains valid, as open-ended quotes can create ongoing legal obligations. Specify exactly what's included and excluded in your pricing to avoid disputes later. If you're providing goods, your quotation should address quality standards and fitness for purpose as required under the Consumer Guarantees Act 1993. Consider including terms about variations, payment schedules, and cancellation policies to protect your business interests. Remember that once a client accepts your quotation, it may form a binding contract under the Contract and Commercial Law Act 2017.
Legal requirements in New Zealand
New Zealand law mandates specific disclosure requirements for your quotations. You must display your GST number and clearly show GST amounts separately under the Goods and Services Tax Act 1985. Include your complete business details, including your legal trading name and company registration number if applicable. Electronic quotations are legally valid under the Electronic Transactions Act 2002, but ensure your digital processes maintain proper records. If you're quoting for consumer goods or services, comply with Consumer Guarantees Act requirements by not attempting to exclude statutory warranties. Personal Property Securities Act considerations may apply if you're retaining security interests in supplied goods until payment is complete.
GOVERNING LAW
Applicable law
This Quotation Doc is drafted to comply with New Zealand law. Key legislation includes:
Fair Trading Act 1986: Ensures quotes contain accurate, truthful information and prohibits misleading or deceptive conduct in trade
Consumer Guarantees Act 1993: Sets out consumer rights and business obligations regarding goods and services, affecting how quotes must address quality and fitness for purpose
Goods and Services Tax Act 1985: Requires proper GST disclosure in quotations and compliance with tax requirements for business transactions
Electronic Transactions Act 2002: Governs the legal validity of electronic quotes and digital signatures in business transactions
Personal Property Securities Act 1999: Relevant if the quotation includes terms about security interests or payment terms for goods
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