Abstract: A method of conducting an online competitive price quoting event for at least one commodity includes storing event, commodity data, supplier data, historical data, a default currency, and a preferred currency into the at least one data table. An event token, which grants access authorization to agents representing the plurality of suppliers, is assigned to the event and is provided to the suppliers. A bid entry screen is displayed to the agents. An actual bid from the agent is compared to the current winning bid and a current minimum bid. A minimum bid from the agent is compared to the current winning bid and a current minimum bid. A current winner and a current winning bid are then determined. The bid entry screen is updated with the current winning bid, and each entry is color coded to reflect the current status of the agent's bids.