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FAQ's
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Who is eligible for eAuction? |
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In order to participate in an auction, you would |
a. need to be a registered member of the Auction
b. Pre-qualify yourself for the auction.
c. Every auction will have its own requirements for qualification.
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How can an eAuction benefit if I have negotiated good price? |
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Usually the reverse Auction is conducted from the best RFQ as the starting market price to create competition and get the best price from the vendors. Even a 1 to 2 percent of savings over the best quote will be of great value when the buying volumes are high. |
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Can a bidder without internet connection participate in the Auction? |
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NO. To participate in a running market one should have a computer connected to the internet. Internet connection of 256 KBPS DSL should be sufficient. |
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How will I come to know of upcoming auctions? |
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Preview of upcoming auctions will be posted well ahead of the auction Time or as registered members you will also receive instant mail notifications about upcoming auctions.
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Can I sell my used machinery via Online Auction? |
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Yes, this type of auction is called forward auction, wherein you need to create a market with the product, invite the buyers/bidders to the market, set the reserve price and launch the market for auction. |
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How can a bidder become competitive / aggressive in a running market? |
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Usually a bidder becomes aggressive when some other bidder in the market outbids him/her and hence created a healthy competition. This can be achieved either by displaying the bidder his bidding status rank or by displaying the running price of the market.
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What if a vendor doesn't bid via the auction? |
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If a vendor chooses not to bid, you may award the business to the best overall bidder or choose to award it to a non-bidding vendor. Your company is under no obligation to award business only to an auction bidder. Application provides objective recommendations based on the auction outcome, but you make the final decision. |
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Will an auction risk the good relationship that I have with my vendor? |
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Not necessarily. Auction is an added facility to attract best price from the market. As vendors do not want to lose your business and are always interested in gaining more.
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What if I'm already in a contract? |
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Every one is already in a contract with some vendor; that is the nature of this industry. There are ways of renegotiating contracts while still honoring all of your obligations.
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