Reverse auction process definition

Reverse auction process or “reverse auction” means a repetitive competitive bidding process that allows vendors to submit one or more bids, with each bid having a lower cost than the previous bid.
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Reverse auction process means a process approved by the Illinois Commerce Commission by which electric public utilities procure electricity for their customers under a reverse-auction competitive bidding
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Reverse auction process means that the User will send flight requests to a selection of Operators. The Operators will answer the request knowing the number of offers already received and a price range;
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Examples of Reverse auction process in a sentence

  • The Reverse auction process will have a scheduled start and end time, which will be displayed on screen.

  • The agency will not be held responsible for consequential damages, including but not limited to systems problems, inability to use the system, loss of electronic information etc.- All the Bidders are required to submit the Reverse auction process compliance Form after the training program duly signed to Central Bank of India.

  • Employer’s decision on award of contract shall be final and binding on all the Bidders.Employer reserves the right to cancel/ reschedule/ extend the Reverse auction process/ tender at any time, before ordering, without assigning any reason.Employer shall not have any liability to Bidders for any interruption or delay in access to the Site irrespective of the cause.

  • The technically qualified bidders will participate in the Reverse auction process that will be conducted by an Auction company authorized by the Bank.

  • The Qualified Bidders participating in the Reverse auction process shall remain anonymous to other Qualified Bidders as well as to AP E-PROCUREMENT.

  • The L-1 bidder emerging from Reverse auction process will submit a detailed breakup of total cost as per the indicative commercial offer (Annexure F (A)).

  • ŽŵƉĂŶLJ͛Ɛ ĚĞĐŝƐŝŽŶ ŽŶ ĂǁĂƌĚ ŽĨ ŽŶƚƌĂĐƚ ƐŚĂůů ďĞ Company shall be at liberty to cancel the RFP/ Reverse auction process at any time, before ordering, without assigning any reason.

  • Bidders should note that the indicative commercial bid is considered for the purpose of conducting Reverse auction process only.

  • The agency will not be held responsible for consequential damages, including but not limited to systems problems, inability to use the system, loss of electronic information etc. All the Bidders are required to submit the Reverse auction process compliance Form after the training program duly signed to Uttar Bihar Gramin Bank.

  • In the former, the Committee stated in clear terms that “the rights set forth in the Covenant apply to everyone, irrespective of reciprocity, and irrespective of his or her nationality or statelessness”42 and that “the general rule is that each one of the rights of the Covenant must be guaranteed without discrimination between citizens and aliens”43.

Related to Reverse auction process

  • E-Auction Process /”E-Auction” shall mean the electronic auction process for sale of the Company conducted in accordance with the provisions of IBC, Liquidation Process Regulations, Applicable Law(s) and this E- Auction Process Information Document inviting Bid from the Bidders for consummating the sale of Company on going concern basis in accordance with the provisions of IBC and Liquidation Process Regulations;

  • Application Process means the online application process under which the Applicant applies for Hospitality Packages on the Webshop.

  • E-Auction Process Information Document means this document including all the appendices hereto, for the purposes of setting out the process for submission of a bid and selection of Successful Bid in accordance with the provisions of the IBC and shall include all supplements, modifications, amendments, alterations or clarifications thereto issued in accordance with the terms hereof.

  • Base Residual Auction means the auction conducted three years prior to the start of the Delivery Year to secure commitments from Capacity Resources as necessary to satisfy any portion of the Unforced Capacity Obligation of the PJM Region not satisfied through Self- Supply.

  • competitive bidding process means a competitive bidding process referred to in paragraph 12 (1) (d) of this Policy;

  • Certified applicator means any individual who is certified under this chapter as authorized to use any pesticide.

  • Collaborative law process means a procedure intended to resolve a collaborative matter without intervention by a tribunal in which persons sign a collaborative law participation agreement and are represented by collaborative lawyers.

  • Incremental Auction means any of several auctions conducted for a Delivery Year after the Base Residual Auction for such Delivery Year and before the first day of such Delivery Year, including the First Incremental Auction, Second Incremental Auction, Third Incremental Auction or Conditional Incremental Auction. Incremental Auctions (other than the Conditional Incremental Auction), shall be held for the purposes of: