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The Regret Letter For Quotation is a crucial document in Saudi Arabian business communications, used when an organization needs to formally decline a quotation or bid proposal from a vendor. This document is essential in maintaining professional relationships and ensuring transparent communication in procurement processes. It must comply with Saudi Arabian commercial law, including the Government Tenders and Procurement Law (Royal Decree No. M/128) where applicable, and adhere to Islamic business principles. The letter serves multiple purposes: acknowledging the vendor's effort in submitting the quotation, communicating the negative decision professionally, maintaining good business relationships, and potentially providing feedback or information about future opportunities. It's particularly important in the Saudi Arabian context where business relationships and professional courtesy carry significant weight in commercial interactions.

1. Recipient Details: Full name, title, company name, and address of the recipient

2. Reference Information: Quotation reference number, date of submission, and project/tender details

3. Acknowledgment: Confirmation of receiving their quotation and appreciation for their time and effort

4. Decision Communication: Clear but polite communication that their quotation was not successful

5. Professional Closing: Expression of hope for future opportunities and standard business letter closing