in regards to an IDIQ contract, what is centralized vs decentralized? and what are the pros and cons
Centralized and decentralized are not terms used to describe different types of IDIQ contracts, nor any other type of contract. In fact, the word "decentralized" only appears in the FAR and DFAR in three places (in the aggregate) and none of those citations are in this context. There are non-authoritative sources that generally describe this dichotomy as more of a function of how a contracting staff is organized. A centralized is an approach is where all contracting is centralized. A decentralized is an approach where the contracting staff is organized by project, program, etc. In any case, these terms do not apply to any specific type of contract or contracting method according to the FAR and DFAR.
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