Personal Finance & Money Asked by N00b101 on October 19, 2020
The idea is that the total quote is kept the same, but line-items are modified so that most of the budget is focused on one (or a few) items and then those items are delayed/dropped.
In the toy example below, you get tricked into walking the dog, baby sitting, and getting groceries for only $30 if you’re not paying attention since the totals are the same.
PROPOSED PLAN COUNTER OFFER
+---------------+-------+--------+--+--+---------------+-------+---------------+
| Task | Fee | Date | | | Task | Fee | Date |
+---------------+-------+--------+--+--+---------------+-------+---------------+
| Walk Dog | $10 | Monday | | | Walk Dog | $5 | Monday |
| Babysit | $40 | Monday | | | Babysit | $10 | Monday |
| Clean House | $40 | Monday | | | Clean House | $80 | Maybe sometime|
| Get Groceries | $20 | Monday | | | Get Groceries | $15 | Monday |
| Total | $110 | | | | Total | $110 | |
+---------------+-------+--------+--+--+---------------+-------+---------------+
I, personally, would call this a bait and switch. It's not really the textbook definition of that, but based on your context comments that's the closest I can think of.
A vendor goes to client and says, "I'll provide these 5 services for $110 total." Client says "I'd like this itemized out". (Which is a reasonable request.) After receiving the itemized list, the client comes back and says "I agree to the $110", but in the contract they send they alter the itemized costs and make sure that the contract only requires them to pay for services actually rendered. Later, the client says "I don't want you to do this 1 line item anymore, and it was $80 of the $110 bill". Vendor, who didn't carefully read the counter-offer (and subsequently signed a contract agreeing to it), loses out.
If the scenario was the other way round where the client was expecting to pay less for certain line items but then the vendor changed the agreement, it would definitely be bait and switch. If the vendor told the client house cleaning was $80 and babysitting $10, but then after the client agreed switched it to $40 for each and cancelled the house cleaning, that would be definitive bait and switch, which is illegal in many areas.
Answered by BobbyScon on October 19, 2020
Get help from others!
Recent Questions
Recent Answers
© 2024 TransWikia.com. All rights reserved. Sites we Love: PCI Database, UKBizDB, Menu Kuliner, Sharing RPP