REVERSE AUCTION

Itemcode: Reverse-auction
Pricing, terms and conditions of this Value Added Services
Price per auction: (five hundred thousand)
Pricing: Might be subject to local Value Added Tax (VAT) and Withholding Tax (WHT)

This value added service will remain FREE at least until the end of 2015

About Reverse Auction

A Reverse auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. The open ascending price auction is arguably the most common form of auction in use today. Participants bid openly against one another, with each subsequent bid required to be higher than the previous bid. An auctioneer may announce prices, bidders may call out their bids themselves (or have a proxy call out a bid on their behalf), or bids may be submitted electronically with the highest current bid publicly displayed.

TELL ME MORE;

  • Goto VAS select Reverse Auction and Buy
  • Reverse Auction will be activated
  • Click My Documents-Quotes and Create Quote Request
  • Create Quote Offer
  • Fill in the Document name, Ship from , and Quantity column
  • Click Reverse Action
  • You will go directly to Reverse Auction Draft
  • Fill the column such as: Starting price, Minimum bid, Type (Public/Private), Auction Start date, Auction End date, Participants (buyers) etc.
  • To know more about how Reverse Auction can help with your procurement process and need more info you can click HELP or send us an inquiry at support@tbxone.com