Working with Buyers The reverse/converse auction process is very simple, the potential buyer provides a detailed specification of the product/commodity he requires and then suppliers for the particular commodity are approached to take part in the auction - no matter where they are located. In this way potential buyers and suppliers are brought together who might otherwise never have done business. In order for an auction to succeed, the supplier must be clear about the product or service that is required and the terms and conditions under which they are to be purchased. That is why it is vital that we work with each of our clients to establish their specification in detail and communicate them to the bidders before each auction. Our aim is to greatly enhance buyers' and sellers' capability to conduct business by utilising on-line technologies to manage relevant market information in such a way that it produces the greatest benefit. We undertake to relieve the time-stressed buyer of the time consuming, arduous task of searching for the correct supplier. We know that buyers do not want to be "sold on an idea" but "informed of the potential options available" which allows them to make their decisions based on logic and not emotion or politics and to be certain that they have obtained the best possible deal for their company. Tenderbid is primarily a purchasing mechanism and is available either on the World Wide Web, Internet or telephone. Unlike most other companies, we combine tradition with technology by conducting face-to-face meetings in the first instance with the Purchasing Executive to introduce our company and explain the benefits of working with us. Also to determine the particular commodity or service he wishes to purchase; the rest of the process is highly leveraged on the Web and the computer. Also, the bidding can be opened to others who may be unknown to the buyer if he so wishes. In the first instance, the buyer nominates a realistic starting price, which is published on the Tenderbid web site. Then Tenderbid specify a period of hours in which bidding can take place. Quite often nothing much happens for the vast majority of this time and then as the time is drawing to a close things really begin to heat up and the bids just pour in. It is absolutely amazing to sit and watch the prices tumble. The suppliers do not know the identity of each other or of the buyer - only the prices submitted. About us >> Working with sellers >> Why conduct web based auctions >> Online Auction Rules >> FAQ'S >>