1, Inquiry is just a simple document showing some interest shown by the prospective customer on products and services offered by the company. Date and Price nothing is relevant here. BUT quotation is a legal agreement which is given/offered to the Customer. The company will agree to the customer, that company will charge a particular amount to a particular quantity of a particular product and this agreement is time limited and not valid after that time duration. 2.Quotation is legally binding offer from sales organization to a customer for providing goods and services under certain fixed conditions Quotation id valid for limited period only