These terms refer to the two primary methods for how vendors submit their quotes. The choice depends on the level of detail required for the bid.
Line-Item Bidding:
Description: Vendors must provide a separate price for each individual product or service listed in the event.
Purpose: This method provides granular detail, allowing you to compare prices for specific items from different vendors and perform a detailed cost analysis.
Consolidated Bidding:
Description: Vendors are required to submit a single, total quote that covers the entire project or the complete set of items.
Purpose: This method is useful when you need an all-inclusive price and want to evaluate vendors based on their total project cost rather than individual components.
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