Basic data - Auction

In the basic data of an auction, a title can be defined in the section Auction → Customer data and an external description can be stored.

If several organizations are active in one company within TradeCore, you can select in the customer data area for which organization in the company the auction will be carried out.

Important auction settings are defined in the Settings section:

• Bid setting: here you can select how the supplier has to submit his bid

• Auction start: Start time of the auction

• Auction end time: Auction end time

• Surcharge rule: Here you can define how the surcharge is to be paid to the supplier. In this example, the contract is awarded to the lowest bidder.

• Deadline for award of contract: by what date will the contract be awarded?

Extension settings:

• Automatic extensionperiod: If another offer is received within the automatic extension period, the auction will be extended by one extension time to give the remaining auction participants another chance to respond to this offer.

• Maximum number of renewals: Specify how many times the auction can be automatically renewed

• Renewal time: The renewal time defines the maximum period of renewal in the event that a bid is submitted within the period of automatic renewals.

Bidder’s view:

• Show own rank: the supplier sees his own rank

• Show best bid price: the supplier sees the best bid price in the bid overview.