A quote expiration date is the last date on which a seller states that quoted prices and terms remain open for acceptance. After that date, the seller may reprice, withdraw or revalidate the offer.
Why do quotes expire?
Input costs, exchange rates, inventory, capacity and delivery schedules change. An expiry limits how long the seller commits to assumptions made when the quote was prepared.
What should the quote state?
Use an explicit date, time zone where relevant and any conditions required for acceptance. “Valid for 30 days” can be ambiguous unless the issue date and counting method are clear.
Does expiry cancel an accepted order?
Not ordinarily. Expiry concerns acceptance of the quote. Once validly accepted and converted into a contract or order, the governing terms determine cancellation and price changes.
How should extensions be handled?
Record the seller's approval, new expiry date and any changed price, delivery or assumptions. Avoid editing the old document without preserving version history.
What should a buyer verify near expiry?
Confirm internal approval, supplier capacity, delivery timing, currency exposure and whether acceptance requires a signed document, purchase order or deposit.
