In a recent survey, the Consumer Council found that many home renovation suppliers provide very vague quotation leading dispute or even incomplete works.1 Among the 11 renovation companies, only 2 can provide a detail quotation while the remaining 9 provided quotation vague or even without content. It is very hard to compare among the competitors without the quotation detail. And it is easy to lead to disputes. Similar circumstances take place in the IT solution industry. for example some TVP suppliers offer only very simple quotation and often challenged by the Innovation Technology Commission.
Legal Knowledge: TVP suppliers shouldn’t be a TVP consultant at the same time
Suppliers fish in troubled waters
For instance, in the quotation of a website company there is only one item “website” priced at $98,000. This oversimplified offer will generally lead to many problems. Clients may expect a responsive web design and a content management system (CMS). However, as all these are not listed in the quotation, the supplier may not provide the functions and features. Last generation businessmen believed in integrity and made a deal of millions without any written contract. This is not the practice nowadays and we should make everything black and white. All government funded projects involve in taxpayers and all officers are determined in the documents.
According to the standard quotation procedure, most procurement should involve at least 2 suppliers and more quotations for higher project fee. It is because the measure can maintain certain competition to avoid under table deal. If the quotation comes without detail, it is very difficult to compare only with the prices. That’s why the Innovation Technology Commission does not accept over-simplified quotation. If you want government funding, such as Technology Voucher Programme, you must accept competition.
Further reading: TVP consultant: think carefully for application
TVP consultant is helpful
In order to get detail quotations, many TVP consultants try very best to help. BizMagnet TVP consultancy assists clients legally and reasonably. We never involve in clients’ procurement and provide a high requirement in the TVP quotation. If you need TVP consultation service, kindly contact BizMagnet. Or you may read our “TVP Fund for Dummies” first.
Additional reading: Build your online shop with TVP
- Survey Found Home Renovation Quotations Generally Vague Industry Urged to Improve Quotation Quality to Avoid Disputes, https://www.consumer.org.hk/ws_en/news/press/529/quotation-details-for-renovation.html