Forward Auction

Following are the Main Features of Forward Auction :-
Auction events can give you the cost reduction upto 30 % depending on the commodity.
Offers competitive bidding environment to maximize realization.
Efficiency in negotiations process.
Transparency in the entire auction process.
It is accepted world wide and is also being adopted by PSUa s India.
Lower Administrative costs like Documents, Telephones, Faxes etc.
No physical presence required & can be operated anywhere in the world.
Huge database of buyers in various categories.
Security
a VERISIGNa a Security provided to all logins.
Bidder
At the time of bidding, Bidder can see only his bids & highest figure in the bidding without name of other bidders.
Bidder cana t change highest price.
Bidder cana t correct his given price once entered into the auction bid.
Bidder can increase his price as per the incremented figure decided.
System creates record of the bids put in by the bidder with time reference.
Administrator
Administrator cannot change the bidder prices in auction.
Administrator login can be disabled & all permissions can be removed for security purpose.
Administrator can view bidding but cannot modify or delete the records.
Administrator can see last three bidding prices except biddera s name.
Administrator can not access or modify/change program as the same is under the control of different Functional Head (IT Dept.)