INPUT auction > Reverse Auctions

What are Reverse Auctions?

  • Reverse Auctions are taken to mean auctions in respect of well standardized goods for which there is an adequate number of suppliers whereby invitations are issued to participate in an Online Auction.
  • Suppliers underbid one another in price (with Ebay this is in the opposite direction).
  • The "most favorable terms" get the award.

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