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What is the difference between a vendor quote and a bid?

A vendor quote is a price quote provided by a vendor for a specific product or service associated with your application and proposed project. Generally, it is in response to a Request for Quote (RFQ), Request for Proposal (RFP), or Request for Information (RFI) that you developed. Upon notification of a LGRMIF grant award you are required to follow state law and locally adopted procurement policies and procedures for the acquisition of project-related products and services. Depending on the product or service and amount awarded, this may require a formal competitive bid process, or you may be able to purchase project- related products or services off state contract or from a preferred source vendor. For additional information on the procurement process, including competitive bidding and preferred sources, please refer to the Office of the State Comptroller’s Local Government Management Guide: Seeking Competition in Procurement.

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