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What types of auction formats are offered?

April 26, 2017auction formats offered types

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What types of auction formats are offered?

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1. Request for Proposal Auctions ( RFP ) – There is NO Transaction Fee for bidders and NO Listing Fee for Requesters! The Requester sets up an RFP to solicit the lowest bid for this particular job. Based upon the lowest bid price and the bidder qualifications, the Requester will then select the winning bidder. Requesters will be charged a transaction fee based upon their lowest bid at the end of their auction. If the Requester ends up selecting a higher bidder because of logistics and qualification, there is no increase in transaction fees for that auction. 2. Absolute Forward Auctions – There is NO Transaction Fee for bidders and NO Listing Fee for Requesters! The highest bidder is the winning bidder at the end of the auction. The Requester is charged a transaction fee based upon the highest bid at the end of the auction. 3. Reserve Price Forward Auctions – There is NO Transaction Fee for bidders and NO Listing Fee for Requesters! The highest bidder is the winning bidder only if the R