Reverse auction marketplace in Nigeria - An Overview
Reverse auction marketplace in Nigeria - An Overview
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Not restricted to standard sorts of Vitality (electrical power, normal fuel), the reverse auction process can be applied to an array of procurement – such as solar energy, construction materials, and labor. Harness the power of competition and leverage a reverse auction to perform the give you the results you want.
the principal advantage of reverse auctions is that they may result in reduce charges for the buyer. By forcing sellers to contend on rate, reverse auctions can generate down the cost of the asset currently being traded.
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(4) Not participate as an offeror in any reverse auction which the Contractor is web hosting on behalf of the Government. This prohibition includes participation in a very reverse auction by any entity with which the Contractor features a relationship that raises an genuine or potential conflict of fascination;
The Government then pays the winning offeror the overall price of the offer, which includes the price(s) extra by the reverse auction provider company. The reverse auction support provider then collects its price(s) through the winning offeror.
(3) consist of while in the Get in touch with file any information and/or documentation acquired with the reverse auction services company from offerors responding to the reverse auction.
(three) When obtaining reverse auction services to generally be provided by a industrial reverse auction services company, organizations shall—
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means a professional or federal government entity that provides a means for conducting reverse auctions when buying supplies or expert services for use by the Government. (b) Reverse auction.
On this regard, the format much more carefully mirrors that of a traditional reverse auction by offering higher visibility to each participant's least expensive offer.
In addition, there must be an inclination to concentrate on the lowest bids by sellers and less consideration for the caliber of goods or companies.
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(1) A contractor from disclosing its personal bid or proposal data or even the receiver from obtaining that information and facts. through reverse auctions, agencies could reveal to all offerors the available cost(s), but may well not reveal any offeror's identification aside from the awardee's identification subsequent to an award resulting from the auction (see subpart 17.eight);
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