What is a key feature of two-step sealed bidding?

Two-step sealed bidding is a procurement method that indeed involves a combination of competitive procedures. This approach typically occurs in two distinct phases: the first step involves soliciting technical proposals without revealing price information, while the second step involves the submission of sealed price bids from those who have had their technical proposals deemed acceptable.

This feature allows the contracting agency to evaluate the technical capabilities of suppliers before comparing prices, leading to more informed decision-making. By separating the evaluation of technical qualifications from price, it ensures that the selection process focuses initially on whether the proposers can meet the technical requirements of the project, thereby enhancing competition and potentially securing better value for public funds.

The other options do not align with the principles of two-step sealed bidding. Only allowing one submission doesn't fit this format, as it encourages competition from multiple vendors. Immediate acceptance based on initial pricing is contrary to the structured evaluation process of this method. Lastly, technical proposals are a fundamental component of this approach, rather than being absent.