If you are a freelancer, you will regularly be asked for a quote by potential clients. A quote is a request for a price. It is initiated by a potential client to determine what you would charge to perform a particular task. The client who asks for a quote is not legally bound to hire you once you provide the quote. In fact, clients often ask several different businesses for quotes to be able to compare them and select the quote they prefer.
A bid is somewhat different than a quote. In such cases, the client puts out a call to potential suppliers asking for prices for the performance of a particular task. Bids are typically delivered at a specific place and time by all interested parties, with preference often given to the lowest bidder.