A quotation describes possible terms; a lending decision and an accepted agreement are separate steps. Do not make a purchase dependent on an unconfirmed offer.
What to check
- Quotation expiry
- outstanding checks and acceptance instructions
Ask for the amount actually paid out, every required payment and its due date. Put two quotes on the same basis before choosing.
A decision to avoid
Paying a non-refundable deposit before funds are confirmed.
A calculation you can check
Illustration only: cash received R2 000; three payments of R750; a separate required charge of R50. Total paid = 3 × R750 + R50 = R2 300. Difference from cash received = R2 300 − R2 000 = R300. This difference is not an annual interest rate. Include the charge only if it is outside the three payments; do not count it twice.
Questions about this decision
What should I check first?
A quotation describes possible terms; a lending decision and an accepted agreement are separate steps. Do not make a purchase dependent on an unconfirmed offer.
Which information do I need for this decision?
Quotation expiry, outstanding checks and acceptance instructions.
Which mistake should I avoid here?
Paying a non-refundable deposit before funds are confirmed.
How do I check quotation expiry?
Locate the actual dated record for Quotation expiry. Compare it with the other records in this checklist; ask the organisation responsible for any unexplained difference.
How do I check outstanding checks and acceptance instructions?
Locate the actual dated record for outstanding checks and acceptance instructions. Compare it with the other records in this checklist; ask the organisation responsible for any unexplained difference.
What should I do if a required detail is missing?
Mark it as unresolved. Ask for that precise detail before choosing; do not substitute an advertised example for your own document.
What is the next practical step?
Ask for the amount actually paid out, every required payment and its due date. Put two quotes on the same basis before choosing.
How can I verify the explanation?
Use the documents listed above. Check quoted amounts and dates in the original record; use the official reference links for the organisation’s guidance.
