All Sellers submitting Bids on an IFB will compete in a Reverse eAuction process until the IFB expires. Throughout the bidding process, ContractBid will rank the Bids based on Best Price. However, the Buyer maintains the right to use Offline Factors for award decisions.
The Order Process is as follows
Once the Selected Seller is notified of the decision and each party receives the other’s contact Information, the Buyer issues to the Selected Seller an Order for the Commercial Items and contacts the Selected Seller to confirm the Order.
Invitation To Bid
By seleting the Invitation Event access feature, buyers can conduct a private invite-only auction which provides the option to invite other existing members from the marketplace or include a specific email adddress(s) from potential providers who are not yet registered with the marketplace to bid on the auction event.
Bid Filter Permissions
Buyers can set specific limitations and filter permissions for the bidders. This feature allows buyers to choose the rating level of who can bid on the new auction listing and from specific radius location.
" I have been invited to test the Contract BID services with a live purchase that I needed to make for my organization before Contract BID actually goes public for everyone. The system has allowed me to invite my regular vendors so they can submit offers for what I was to purchase. I have saved 19% on my budget from my last similar purchase thanks to the system where my vendors had to bid and fight for my purchase. Amazing great...!"
Procurement Officer BNG Associates LLC
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