QUOTATION Definition

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QUOTATION, dependent upon usage, is a. a statement of the current market price of a security or commodity; or, b. an offer to sell goods at a stated price and under specified conditions.

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PURCHASE AND INSTALLMENT SALEBACK, in real estate, is a contract purchase of real property upon the completion of construction. The subject property is then immediately sold back on a long-term installment contract.

BILLINGS IN EXCESS OF COSTS see COST IN EXCESS OF BILLINGS.

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