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What Is an Electronic Auction?
A digital process in which suppliers adjust price and certain terms in real time to compete for the contract.
How does an electronic auction work?
After an initial evaluation, suppliers submit new, lower prices or improved values in real time. Each round shows suppliers their ranking, and the auction closes at a set time or when no new bids arrive.
What can be auctioned?
Only elements that can be evaluated automatically, such as price or quantifiable terms. Quality that requires human judgment cannot be part of the auction.
When is it used?
For standardised goods and services where price is the deciding factor. The buyer must announce the auction in the notice.
