There are three different quotes that are commonly required
- Ball Park: this is for a quick determination of a project feasibility or to cross check another fixed price quotation.
- Fixed Price: usually a more detailed quote that a builder is willing to sign off on that will specify provisional and prime cost allowances.
- Job Budget: for cost plus type contracts where actual real costs are not known and it is considered more economic to proceed in this manner rather then pay a high fixed price contract sum that would be required to offset set the liability of the worst case scenario.
You may wish to consider the type of quotation that is most appropriate to your project in conjunction with your desired outcomes.