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Quotation/Pro-Forma/Invoice

It can sometimes be confusing to understand the different terminology for the various paperwork involved in making a purchase. You will be used to the idea of just going into a shop, selecting what you want and then making the purchase. However when you are buying for business use the process is a little bit more complex.

Quotation

A quotation is a formal offer by the seller to sell parts/services at a set price within a specified period (usually 14-28 days). Usually when Formula Student teams are looking around for different prices or weighing up options then they will ask for a quotation. If you are asking for a quotation then it is worthwhile to read our Asking For A Quotation/Enquiry article for more guidance.

Once you have a quotation from Raceparts please let us know if there any any changes needed (such as address, quantity or delivery details) at this point before taking the transaction further.

Pro-Forma

A Pro Forma Invoice is a preliminary invoice is there to start the actual purchasing process. Most Formula Student teams will need a Pro-Forma to realise funds from their finance department. It can be used similar to a quotation but usually is seen as a more formal document with intention of purchase.

Invoice

An invoice is created only once the goods are actually sold. It will detail the actual transaction that has taken place. If you require specific information on the invoice which has not been included on the Pro-Forma or quotation then please let us know when you confirm the order. A copy of the invoice will be included in the box with your parts, however if you would like a copy emailed then please let us know.

Despatch Note

A despatch note is usually on the outside of the package that has been shipped. This will detail the items which are inside the package (including quantity) but will not show prices. It is used for shipping purposes and to 'check in' parts was once they have arrived with you.