|
Forgot Password ?
Click Here
|
Reverse Auction
|
Meaning:
|
|
Reverse Auction is the direct opposite of a traditional (forward) auction. The buyer lists his Products requirement
& maximum price he is willing to pay for it & potential sellers post their bids in a reverse manner-declining price for buyer. |
|
| |
How it
works ?
|
For
Buyer :
|
| - |
Only Registered Buyer can set Reverse Auction |
| - |
Buyer sets Reverse Auction by specifying products he wishes to purchase
& other information such as product specifications, place, quantity, date, maximum starting bid price, commercial & shipping terms
& other conditions & finally the closing date of
Auction.
|
| - |
Buyer has option to set his Reverse Auction as:
Open - for Public
Close - for only registered suppliers of Plasticsahead.com
Selected - for only suppliers registered & Selected by Buyer as preferred Suppliers |
| - |
At the close of Auction, the buyer can accept one or more of the existing bids. At that point, the bidding process is stopped
& the transaction is considered complete.
Plasticsahead.com then sends a transaction confirmation to the buyer
& the seller Whose Bid was selected.
|
|
For Seller :
|
| - |
Any supplier can bid in a Reverse Auction, which is for public
(open) |
| - |
Only
suppliers registered with plasticsahead.com can bid in a
Reverse Auction which is close
|
| - |
Only suppliers selected by buyer can bid in a Reverse Auction which is selected
|
| - |
Seller post his bid, he provide price, quantity available,
& any Exceptions to buyer's commercial & shipping terms
& conditions. Buyer & seller get immediate access to all details to the ongoing bidding process.
|
| - |
At the close of Auction, the buyer can accept one or more of the existing bids. At that point, the bidding process is stopped
& the transaction is considered complete. Plasticsahead.com then sends a transaction confirmation to the buyer
& the
seller whose bid has been accepted
|
|
|
**************************************************
|