Following a Tendering process, vendors that meet your minimum set of requirements are allowed into auction procedure. In a real-time online bidding process, vendors can re-assess their previous bids and either or not submit another price. The Auction can be held in direct competition with multiple vendors.
You as a buyer decide on the auction settings yourself, possibly in consultation with a Negometrix e-Auction specialist. An auction can take place on the basis of price only, but more often Buyers choose to take the quality score of the prior Tender into account and have a weighted auction.
Prior to an auction, vendor are instructed one by one so that they know exactly how the auction works and what is expected from their side. Negometrix also provides the participants with an "auction statement" that outlines the rules for all participants.
Do you want to make an auction part of your Tender? Contact the Negometrix Service Desk.