Definition
A rate card is a document listing a business's standard prices for its services, such as hourly rates by role, day rates, package prices, and add-on fees. It is shared with prospective clients or attached to contracts so quotes and invoices use consistent, pre-agreed prices.
Also called: Rate sheet, Price sheet, Fee schedule
Rate card in practice
Keep the rate card aligned with your product and service catalog so the same prices appear on quotes and invoices. Date each version, and state in contracts which rate card applies and how much notice you give before changing rates.
Frequently Asked Questions
Should I publish my rate card?
It depends on your market. Publishing rates filters out clients who cannot afford you; sharing on request lets you tailor quotes. Many freelancers publish starting prices only.
How often should I update my rate card?
Many businesses review rates once a year, or when costs or demand change. Give existing clients written notice, often 30 to 60 days, and follow any notice period set in their contracts.
Related terms
- Hourly rate An hourly rate is the price charged for one hour of work.
- Product and service catalog A product and service catalog is a saved list of the items a business sells, each with a standard description, unit price, and tax treatment, used to add line items to invoices and estimates quickly and consistently.
- Quote A quote is a document that offers a client a fixed price for specific goods or services before work begins.
- Value-based pricing Value-based pricing sets the price of a service according to the value it delivers to the client, such as revenue gained or costs saved, rather than the hours or materials it takes.
This page is for general information only and is not legal, tax, or financial advice. Rules change and vary by location, so consult a qualified lawyer or accountant about your situation.