electronic reverse auction definition

electronic reverse auction means an online real-time purchasing technique utilized by the procuring entity to select the successful submission, which involves the presentation by tenderers, suppliers or contractors of successively lowered bids during a scheduled period of time and the automatic evaluation of bids;
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electronic reverse auction means an online realtime purchasing technique utilised by the procuring entity to select the successful submission, which involves presentation by bidders of successively lowered bids during a scheduled period of time and the automatic evaluation of bids;
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electronic reverse auction means an online real-time procurement technique utilized by the procuring entity to select the successful bid, which involves submission by technically qualified bidders of successively lowered bids during a prescribed period of time and the automatic evaluation of bids.”]3
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More Definitions of electronic reverse auction

electronic reverse auction means an online real-time purchasing technique utilised by the procuring entity to select the successful submission,
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electronic reverse auction means an online real-time purchasing technique 20
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electronic reverse auction means the procurement method referred to in section 55;
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electronic reverse auction or “eAuction” means a procurement tool using web-based software that allows potential suppliers to compete online and in ‘real time’, providing prices for the goods/services under auction;
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electronic reverse auction means an online real-time purchasing
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electronic reverse auction means an online real-time purchasing technique utilized by the procuring entity or Offset Authorities to select the successful submission, which involves the presentation by obligors/suppliers or contractors of successively projects during a scheduled period of time.
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Related to electronic reverse auction

  • Electronic Notice shall be deemed written notice for purposes of this Section 13 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic Notice”) which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.

  • Electronic Record and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may be amended from time to time.

  • Electronic filing means a document that is filed under securities legislation or securities directions in electronic format or the act of filing a document under securities legislation or securities directions in electronic format, as the context indicates;

  • Electronic voting system means a secured voting system based process of display of electronic ballots, recording of votes of the Members and the number of votes polled in favour or against, in such a manner that the entire voting exercised by way of electronic means gets registered and counted in an electronic registry in a centralized server with adequate cyber security.

  • Electronic means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities.

  • Electronic File Transfer means any system or process that utilizes an electronic format and protocol to send or receive data files.