(iii) The website address at which the electronic reverse auction will be held, and at which the auction rules, the tender and other relevant documents will be accessible

(c) The procuring entity may also at any time announce the number of participants in the auction but shall not disclose the identity of any bidder during the auction until the auction has closed.

Immediately after abortion of an auction, the reasons for the abortion shall be communicated at the Internet address fixed in the auction rules to those bidders who were last in participating in the auction (para.

Most information related to an ERA is made available to participants already at the stage of advertising a notice of auction, in particular in the auction rules.

OGC launched Reverse Auction Framework (RAF, available at http www.ogcbuyingsolutions. gov.uk RAF default.asp.

The sections below address aspects of pre auction, auction and post auction stages commonly regulated by ERA specific provisions of existing regulations.

Auction stage

Post auction

(v) The features of the tender that are to be presented at the auction

Pre auction stage

Invitation to auction

(iv) The requirements for registration and identification of bidders at the opening of the auction

Proof of qualifications must be presented at the latest at the time of admission to the auction (para. 52.5.3).

A. Pre auction period

Other pre auction measures

On the morning of August 9, before the beginning of the auction, Mr. Liu, a citizen, came to the auction site to wait, with his auction number in his hand.

This is the daily auction at the Tsukiji Fish Market that I photographed a couple years ago.

It takes place at the start of the auction when all registered bidders submit their initial prices.

At the post auction stage, the selection of a winner and award of the contract takes place.

According to Xiao Lei, all the 45 cars at this auction have been auctioned in excess of their auction starting prices with the total starting price being 998,500 yuan and the total transaction price 2,626,000 yuan. This total transaction price is a little higher than the anticipation price of the auction company.

The holding of the auction

The Brazilian system permits bidders to challenge the time fixed for the auction and request extensions of the auction.

A minimum period of time is usually required to elapse between the issuance of the notice of auction or invitation to the auction, as the case may be, and the opening of the auction.

Disclosure of information during the auction

The golf clubs were owned by John F. Kennedy and sold for three quarters of a million dollars at auction.

Because we had this auction, you see.

Qualifications of bidders are not evaluated at this stage, but rather after the auction and only with respect to the winner.

At the pre auction stage, registered bidders certify before the opening of the auction only that they meet the qualification requirements (usually by typing in the designated space that they are fully aware of qualification requirements and that they are fully qualified).

(b) Procuring entities must provide instantaneously communicate to all bidders on a continuous basis during the auction with sufficient information to enable each to establish its own current ranking in the auction whether it has the top ranking in the auction to establish the changes needed to any bid to give it the top ranking in the auction

(5) The procuring entity shall allow a period of time to elapse between the issuance of the invitation to participate in the electronic reverse auction and the opening of the auction sufficient so as to ensure sufficient participation in the auction.

It went for 20 billion pounds through auction.

The Austrian law adds to that a possibility of terminating an auction by a procuring entity if serious reasons objectively justify ( abortion of the auction ).

Requiring initial tenders to include all features, including those to be presented through the auction, may assist the procuring entity in setting a starting price for the auction.

At least one country, the United States, permits the reopening of the auction after an ERA had closed on the basis of a protest.

In addition, only features of tenders that are quantifiable as price equivalents so as to allow for automatic evaluation during the auction itself may be presented through the auction.

I went to a dot com auction at a Holiday Inn in Palo Alto and I bought 11 G4s with a stroke of a paddle.

In some systems, the law requires the name of the successful bidder to be communicated immediately after termination of the auction to the Internet address fixed in the auction rules.

However, the design itself is not itself evaluated during the auction.

(1) An electronic reverse auction (electronic reverse auction) can be defined as an online, real time dynamic auction between a buying organization and a number of suppliers who compete against each other to win the contract by submitting successively lower priced or better ranked bids during a scheduled time period.

(2) The auction shall be closed in accordance with the precise method, dates and times specified in the solicitation documents or in the invitation to participate in the auction, as follows

Article 47 bis provides that the electronic reverse auction is to be suspended abrogated should the number of bidders drop below that minimum before the opening of the electronic reverse auction itself.

One of the inherent features of an ERA is that it enables current information about the status of the auction to be provided to bidders automatically and instantaneously as an auction unfolds.

(xi) The criteria that shall determine the closure of the auction and

Article 47 ter. Conduct of electronic reverse auctions during the auction itself

insert further guidance as regards closure of auction see paragraph 30 above .