After Viewing and Accepting an Auction Invitation, the next step for the supplier would be to submit a pre-bid price to signify interest and participate in the Auction Hall.
Filling in Pre-Bid Price
Click on the Bill Quantity tab, then click to view the Bill of Quantity List.
i. States the item name.
ii. States the quantity of items.
iii, iv, v. State the Unit Price, Total Price and Include and Taxes (in percentage).
vi. States the total price with tax.
vii. Include any additional tax amounts. Include tax amount and not percentage.
viii. Click to Save pre-bid Bill of Quantity
Submitting Pre-Bid Price
Once you have filled in the Pre-Bid Price in the Bill of Quantities, proceed to submit Pre-Bid in order to gain to gain access to the Auction Hall.
i. In the Submission details tab, click Pre-Bid Finish.
ii. Click Yes to confirm Pre-Bid Submission. Note that you are only allowed to submit the pre-bid price once. You will be unable to modify your pre-bid price.
Entering Auction Hall and Bidding
Click to enter Auction Hall.
i. Click to view event details and refer to some Auction Rules. Your auction console will list the following tabs:
- a. List your ranking in the auction.
- b. States your company name.
- c. States the number of bids that you have submitted
- d. States the initial pre-bid price that you have submitted prior to the start of the auction.
- e. States your current bidding price. All subsequent decreasing/increasing bids will be based on the current price.
- f. States the percentage difference between your initial price and your current price.
ii. Enter your bid amount. This amount has to be lesser/higher than your initial price, depending on the auction type. Note that in a Reverse English Auction, you will have to decrease each subsequent bid price, while in a Forward English Auction, You will have to incrementally increase your bid price.
iii. This tab allows you to reduce/increase your bid price by percentage. Refer to the Auction Rules for minimum requirement set by the buyer (if any). .
iv. Click Preview to auto-calculate the price increment/decrements percentage. Note that this calculation will be based on your current price and not the initial price.
v. Click to Submit your Bid Price. Each successful submission is noted as one bid in your bid count.
Viewing your Auction Console with the presence of other bidders
i. Once other suppliers have submitted their bids, their rankings and names will appear on your console. (This may vary based on the console setting determined by the buyer)
ii. Shows the submitted bid price of other suppliers. Note the leading price. This may help you decide on your bidding price. Some auction rules insist that the next bid submission must be lower than the leading bid by a certain amount or percentage.
Revising your submission
Once the auction is closed, all suppliers that have submitted bids are required to submit a revised Bill of Quantity to reflect their current bid price. This involves revising the price of line items in line with your submitted bid price. Note that the final submitted price must match your current bid price.
Click Revise Submission to revise the Bill of Quantity based on the your submitted bid price.
i. The grand total shows your final bid price. This amount cannot be changed.
ii. Update the unit price of each line item. The grand total must be equal to your bid price.
iii. Click Save to continue.
Note that if the grand total does not equal your bid price, it will be highlighted in red.
Once you have matched the exact price in the revised Bill of Quantities and clicked save, you will be prompted with a success notification.
Submitting Revised Bill of Quantity Submission
After revising the Bill of Quantity, you will have to go back to the event details tab.
i. Click to Finish Revised Submission
ii. Click yes on the confirmation of the revised submission. Note that this will be your final submission and no changes can be made thereafter.
You will be prompted with a system notification noting the success of your submission.