A customer quotation is the basis for a service contract or a sales order. A customer quotation enables you to calculate the price to quote a customer for products or services you propose to supply to them. If Advanced Quoting is installed on your Salesforce org, you can create a customer quotation from a Salesforce opportunity that has not yet been set to the stage Closed Lost or Closed Won.
In a service contract customer quotation you can quote recurring and non recurring fees for tangible and intangible items. You can create these types of customer quotations for a service contract:
You can create these types of customer quotation for a sales order: