Firm quotation

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Firm quotation
/fɜːm kwəʊˈteɪʃᵊn/ (n.)
A non-negotiable, “take it or leave it” indication at which a broker or dealer will buy or sell an instrument at a specific price if a customer wishes. The broker/dealer will trade at that price if the customer accepts the price immediately.

Compare with an indicative quotation, In which case the broker/dealer gives a hand-wavy, shoulder-shruggy sort of noncommittal idea of what price you might get but it is not one that the broker/dealer is prepared to be held to. Indicative offers are a waste of time and a chocolate starfish. No way to resolve a calculation agent dispute fallback negotiation, anyway.

See also

• Give-up
• DK
• Bid and offer