Give too low an estimated cost for (a commodity or service)
he said that he had underquoted the job and had run out of money
Example sentencesExamples
‘Most agents do, it's just a matter of picking which ones underquote by 5 per cent, which do it by 10 per cent and which do it by more,’ he said.
Recent media coverage about the widespread practice of underquoting has highlighted the frustration of buyers who miss out when properties sell for much more than the advertised estimate.
Our system is not set up to calculate international shipping and underquotes international shipping rates.
Note also that the price is a quote, so the company that underquotes the cost by the most has the greater chance of winning the contract.
Also be aware of an agent that overquotes to sellers and underquotes to buyers, says Jenman.
Estate agents who willfully underquote houses going to auction will apparently get big fines with a new investigation.
Tough new measures have been recommended to protect home buyers from rampant underquoting in the Melbourne property market.
They misrepresent the number of properties they offer, underquote rent and generally engage in deceptive business practices.
Well, agents found guilty of underquoting face the loss of their licence and fines of up to $22,000.
If you know that you have been underquoting the time for your jobs, you should probably just double the time in your original estimate.
Tell him the cost of a T-shirt and he would gape in disgusted wonder no matter what price you quote - even if you underquote the price 5 times.
Shop rate is $60 per hour and he usually underquotes the time it will take but always bills you what you agree upon.
A mover can underquote you on purpose or by accident then claim for extra money because the end volume of the consignment doesn't correspond to the volume quoted.
Often this is an honest mistake, but other times outsourcers may underquote on purpose, just to get the business.