Perestroika was different, because debate had not ended indeed, countless debates were raging about what Gorbachev should do. Moreover, all previous eras of Russian reform eras and revolutions were connected with some historical model.

But the way progress happens is because new generations and new eras grow and develop and become better than the previous ones.

The extent to which the procedural aspects of ERAs are regulated depends on how ERAs stand in relation to other methods of procurement.

At the stage of introduction or trial of ERAs, some countries limit the list of procuring entities that can use ERAs in public procurement.

C. Procedural aspects of ERAs

In most jurisdictions, a general review mechanism applies to ERAs.

The requirement for evaluation of initial proposals is found both in the systems that recognize ERAs as an optional phase and in the systems that recognize ERAs as a distinct method.

As regards electronic reverse auctions (ERAs), taking account of the increasing use of ERAs and the twin aims of harmonization and promotion of best practice, the Working Group concluded that the revised Model Law should contain provisions on ERAs.

It has been observed that absence of regulation, or of adequate regulation in some countries where ERAs have been introduced, has deterred some of the procuring entities from using ERAs.

In most jurisdictions, the general procurement rules apply to all methods, including ERAs.

At least one country, Brazil, addresses the subject specifically in the context of ERAs.

In Brazil, ERAs are open to all suppliers registered in the centralized contractor supplier register (SICAF).

The main possible advantages of a distinct method approach are that (a) it avoids including in the general provisions on other relevant procurement methods any modifications to take account of the use of ERAs, which may make such provisions overly complex and (b) it permits governments to restrict the grounds for using ERAs (for example, ERAs may be inappropriate in open tendering).

But surgeons in these eras are a little bit more conservative than their bold, trephinating ancestors.

In Austria, two types of ERAs are envisaged with unlimited and a limited number of participants.

The regulatory framework and practice with respect to the use of ERAs in public procurement comparative study

The current strategy in the financial sector drives excessive competition by increasing market share at rivals expense, often breaking trust with customers for the sake of short term gains. Yet the financial sector has, in previous eras, proven that it can operate as a public good by providing trustworthy, efficient services.

Registration requirements may also hinder the participation of foreign bidders in ERAs as they often impose local conditions.

In the systems that recognize ERAs as an optional phase, general procurement rules address the provision of solicitation documents.

The right to reject all bids at the end of ERAs is explicitly provided in some ERA specific regulations.

The worst eras in human history, whether in Cambodia or Germany or Rwanda, they start like this, with negative other izing.

(c) A note concerning ERAs, including drafting materials (A CN.9 WG.I WP.40)

Further, the Working Group agreed to confine ERAs under the Model Law to the procurement of clearly specified goods, works and services whose non price criteria could be quantified and decided that the Guide to Enactment would address the use of ERAs in detail.

In both types of ERAs, an unlimited number of participants is publicly invited to submit an application to participate in the ERA.

The Model Law does not deal expressly with ERAs, and certain provisions effectively prevent them.

Other questions that may need to be addressed by the Working Group are of a more general nature, including (a) the extent to which the issues of ERAs should be addressed in the Model Law or implementing regulations or the Guide to Enactment and (b) safeguards that the Model Law should establish to prevent the problems stemming from the use of ERAs, such as risks of collusion and obstacles to the participation in ERAs by foreign bidders.

Empirical studies demonstrate that ERAs are currently being used in public procurement in some countries and are being considered for introduction in some others.

In the systems that recognize ERAs as an optional phase, all tenderers who submitted admissible tenders are invited to participate in the ERA.

In Brazil, ERAs can be conducted only by the reverse auctioneers who are employees of a procuring entity, accredited after special training.

In China, ERAs are open only to members of the local online public procurement bidding system maintained by local public procurement centres.

Secondly, the provisions would enable the use of ERAs as a procurement method rather than an optional phase in other procurement methods.

Those provisions could take the form of a general enabling provision providing the key principles for the use of ERAs, notably the conditions for and limitations to the use of ERAs (see, further, A CN.9 WG.I WP.35, paras. 20 25).

Rarely, ERAs close after a fixed duration of time has expired (what is called hard close time ).

Thus, the Working Group may wish to decide (a) whether ERAs should be incorporated in the Model Law at all (b) if so, the approach to be taken as to whether ERAs are to be a distinct procurement method, or an optional phase in the existing procurement methods and (c) the content of such regulation.

In the systems that recognize ERAs as an optional phase, general rules on the content and means of providing such a notice apply.

In particular, ERAs generally operate in local languages, and no multi lingual versions are currently in place (although some countries are exploring the possibility of introducing multilingual versions).

Only those participants that submitted admissible tenders after an initial evaluation of the tenders will be admitted to ERAs.

Markets seem to be driven by stories, as I emphasize in my book Irrational Exuberance. There are stories of great new eras and of looming depressions.

In the systems that recognize ERAs as a distinct method, the bidding documents are provided at the time when the notice of the ERA is given.

She gives you the names of previous lives, who you were in previous lives.

And in the time since Galileo pointed that rudimentary telescope at the celestial bodies, the known universe has come to us through light, across vast eras in cosmic history.

The question of access to ERAs by foreign bidders is generally dealt with under the existing principles related to public procurement.

It has been observed that, unless properly regulated, this feature of ERAs gives rise to concerns, especially from competition law standpoint.

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Reaffirming previous resolutions in the matter,