What is the term for an approximate cost presented to a client for work to be done?

The term for an approximate cost presented to a client for work to be done is "estimate." An estimate provides a rough calculation of what the services or products will cost, reflecting early financial expectations before any commitments are made. This helps clients understand the potential expenses involved and aids in their decision-making process.

An estimate is different from a quote, which generally provides a fixed price for services. While both terms are related to pricing, a quote is usually more detailed and binding compared to an estimate, which is inherently subject to change based on various factors. An invoice is a request for payment after services have been rendered, and a proposal outlines the work to be done along with costs, but it can also include broader details on project scope or terms. Therefore, the most accurate term for an approximate cost is indeed an estimate.