EXAMPLE FOR "e-AUCTION"

The need:

The Food Industry collects many offers from the “Members” of the platform and decides to move to an e-auction (the expense of the project is remarkable and its consultant engineer judges that the cost of the construction can be lowered)

The solution:

Step no1. As “Interested party” he chooses the service “Request for auction”, notifying the members from which he took offers for his request.

Step no2. If at least five (5) members give a positive response he informs the platform.

If not, he may use the “Request for renegotiation” service.

Step no3. After paying the platform (pricelist), the time and date that the auction will take place is set and the members that will take place are informed.

Step no4. The process of the e-auction

At the stated day of the auction, fifteen minutes before the start of the bidding, the participants are notified about the starting price (the lowest offer from those given to the Industry for its project)

The process is automated. The participating “members” are characterized by a random number (for example 1, 2, 3 etc) and have the right to place their price offer every 30 seconds from the last placed offer without the Industry knowing which member corresponds to the random participation number given by the platform. During the auction the minimum ask step for members depends on the starting price and fluctuates according to the following table here.

Not placing an offer in time equals abstention.

When there are no more offers the procedure is complete and its history is shown to the “Interested party”.

The result:

The Industry now has the price with which it will perform its project, through a quick, irreproachable and accurate procedure, that of E-auction!

All that’s left to do is get in contact with the member that won the auction and move on with their cooperation.