Meaning of underquote in English:


Pronunciation /ʌndəˈkwəʊt/


[with object]
  • 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’
    • ‘Our system is not set up to calculate international shipping and underquotes international shipping rates.’
    • ‘Well, agents found guilty of underquoting face the loss of their licence and fines of up to $22,000.’
    • ‘Also be aware of an agent that overquotes to sellers and underquotes to buyers, says Jenman.’
    • ‘Shop rate is $60 per hour and he usually underquotes the time it will take but always bills you what you agree upon.’
    • ‘Often this is an honest mistake, but other times outsourcers may underquote on purpose, just to get the business.’
    • ‘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.’
    • ‘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.’
    • ‘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.’
    • ‘If you know that you have been underquoting the time for your jobs, you should probably just double the time in your original estimate.’
    • ‘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.’
    • ‘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.’
    • ‘They misrepresent the number of properties they offer, underquote rent and generally engage in deceptive business practices.’
    • ‘‘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.’