Electronic Auction Clause Samples
The Electronic Auction clause establishes the rules and procedures for conducting auctions through electronic means, such as online platforms. It typically outlines how bids are submitted, the timing and sequence of bidding rounds, and the criteria for determining the winning bid. By providing a clear framework for electronic bidding, this clause ensures transparency, fairness, and efficiency in the auction process, reducing the risk of disputes and misunderstandings among participants.
Electronic Auction. 3.1. The provision of this Article shall apply only if the contractual relationship between ▇▇▇▇▇ and Seller is based on Seller’s participation in Buyer’s electronic auction.
3.2. Seller’s quotation sent via electronic auction software shall be deemed an offer. Contract is concluded upon receipt of the Buyer’s purchase order in accordance with the terms of the electronic auction. Articles 2.2 and 2.3 of the GPTs shall not apply.
3.3. Buyer shall not be bound by the number of goods that is subject of the electronic auction and may order different number of goods than originally demanded in the electronic auction, up to three times the originally demanded number of goods. Seller shall deliver the goods in due compliance with the conditions proposed in the electronic auction.
Electronic Auction. For the procurement of standardizable categories of goods and services, reverse auctions may be carried out when the procurement strategy so defines, using secure, legally accepted technology.
Electronic Auction. Bidders should be aware that an on-line Electronic Auction may be used in conjunction with collaborative and non-collaborative mini competitions, post award of the Agreement. Users reserve the right not to enter into an Electronic Auction exercise if considered inappropriate.
Electronic Auction. (1) An auction shall be conducted only through an online electronic auction platform.
(2) The State Government may utilise any online electronic auction platform which meets the minimum technical and security requirements as specified in the Guidelines for compliance to Quality requirements of e-Procurement Systems issued by the Standardisation Testing and Quality Certification Directorate, Department of Information Technology, Ministry of Communications and Information Technology, Government of India.