Dear …

Thank you for submitting a __(quotation/proposal)__ on __(briefly describe what the quote was for)__. The detail in your __(quotation/proposal)__ was commendable. It __(covered well all the areas we had discussed /offered very innovative solutions for our needs/etc.)__.

I’ve now had the opportunity to do a thorough comparison with __(the other proposals presented to me/my present -type of - contract/etc.)__. Though your __(quotation/proposal)__ is very impressive, __(Name)__, my decision at this time is to __(go/renew/remain/etc.)__ with __(another company/my current vendor)__. The reasoning behind this decision is due to __(briefly describe reason(s)__.

Again, I thank you for taking the time to prepare such a detailed__(quotation/proposal)__. It’s clear that you possess expertise in the __(type of)__ area and I consider it a pleasure to have met you. I will certainly keep you and your company in mind for any future __(projects/quotes/etc.)__.

Sincerely,