No I meant the sales quotation that come under Sales/Sales/Quotation.I just dont want the Invoice address and the shipping address in the printout of the quotation generated.So how to change the design of the print of the quotation?

refer this->

go to sale-> report-> edit sale_order.rml file for changing format of your quotation report.

Thanks Shashank.It worked.

one more doubt.Is there any option to limit the number of characters in a text field as like that of char in openerp?I want to limit the terms & Conditions to 500 chars.

'note': fields.text('Notes',size=500)

Is it possible to edit the .py file for the above change to be done and upgrade the corresponding module to update the change or else I should make another custom field?

you can edit anything in current py file.

But the editings made as per your suggesion does not seem to be reflecting in the code

did you restarted your server by running command:

-u all -d your_database_name

Thanks Shashank.It worked perfectly.