> ## Documentation Index
> Fetch the complete documentation index at: https://docs.pik.global/llms.txt
> Use this file to discover all available pages before exploring further.

# Quotes

> Lock in a guaranteed exchange rate before executing your FX conversion using PIK's Quotes method.

PIK's Quotes method lets you request a firm price quote before committing to a conversion. The rate is guaranteed for a short validity window — typically 30 to 60 seconds — regardless of market movement. You can then accept the quote and execute at that locked rate, or let it expire with no charge.

### How Quotes works

```mermaid theme={null}
flowchart LR
    A["Request Quote<br/>POST /api/v1/fx/quotes"] --> B["PIK Returns<br/>Guaranteed Rate + quote_id"]
    B --> C{Rate<br/>Acceptable?}
    C -->|Yes| D["Execute Conversion<br/>POST /api/v1/fx/conversions"]
    C -->|No| E["Let Quote Expire<br/>No Charge"]
    D --> F["Conversion Locked<br/>at Quoted Rate"]
    E --> G["Quote Expires"]
```

Step 1 — Request a quote. Call POST /api/v1/fx/quotes with sell\_currency, buy\_currency, and amount. PIK returns a guaranteed rate with a quote\_id and expiry timestamp.

Step 2 — Review and decide. If the rate is acceptable, proceed before the quote expires.

Step 3 — Execute the conversion. Call POST /api/v1/fx/conversions with conversion\_type set to quote and the quote\_id. PIK executes at the locked rate regardless of market movement since quoting.

### Things to know

One conversion per quote — Each quote\_id can only be used once.

Quote does not reserve funds — Ensure sufficient balance is available at execution time.

Expired quotes are free — No fee if you let a quote expire without converting.