A quote can be one-sided, showing only the price of the last transaction, or two-sided, displaying both the bid and ask prices simultaneously. The difference between them — the spread — reflects transaction costs and the liquidity level of the instrument.
Bond prices are typically quoted as a percentage of par value rather than in monetary units. A distinctive feature of the debt market is the distinction between the clean price excluding accrued coupon income and the dirty price including it. The quoted price is usually clean, while the full amount is debited from the account.
A quote is not the same as execution price. It reflects intention, not fact: when submitting a large order for a thinly traded instrument, the transaction will occur at multiple price levels, and the average price will be worse.
Finally, the last quote may be outdated. If there have been no trades in a security for a long time, the displayed price reflects market conditions at the moment of the last transaction, not today's valuation. Before trading in a low-liquidity security, it is important to check not only the price but also the date of the last trades.