An offer to complete a defined scope for an agreed price, subject to the assumptions, exclusions and adjustment terms stated in the quote or contract.
Why it matters
The price is only as reliable as the scope basis. Undefined work can turn into unplanned cost after acceptance.
Example in practice
The builder issues one fixed total with separate PC sums, provisional work and clear exclusions.
Use the term carefully
Keep the agreed scope, assumptions, exclusions and adjustment terms with the price when the offer is accepted.
Compare related terms
Use the price-review checklist to keep the client wording and approved basis consistent.