An electronic auction may be the most appropriate way of procuring standard products and contracts at the lowest cost where the most economically advantageous bid can be measured objectively. It is an English reverse auction, meaning that:
the bids are disclosed without delay (in real time), with the possibility of subsequent improvements to the bids;
the prices fall in the course of the auction.
Starting a eAuction in just a few steps:
the contracting authority initiates the auction and appoints an auction manager
the auction manager creates the auction and invites bidders to participate
in the course of the invitation to participate, bidders will receive instructions on how to create a bidder account (registration), a link to link their bidder account to the auction and transaction authentication numbers (TAN)
the auction manager also determines minimum bid increments, maximum bid increments and – if necessary – a maximum discount
the minimum duration and provisional end time of the auction are also determined and communicated to the bidders
the electronic auction is considered terminated if no more bids are received within the extension period
after the end of the auction, the auction platform will announce the contract award decision by email
During the entire duration of an auction, the auction manager can send messages to all bidders via the platform.
The auction platform provides real time information to the bidder:
the current lowest price
all bid prices of the bidder with a timestamp
the bidder's current rank based on their last bid
a message, if their bid is invalid
interruption, continuation or cancellation of the auction
The names or number of auction participants are not displayed.
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