eAuction definition

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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eAuction. / “eAuction tool” means the procurement tool used by the Authority, using web-based software which allows Potential Providers to compete electronically online and in real time by submitting their prices for the provision of the goods and/or services required by the Authority as more fully described in these eAuction rules;
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eAuction means the process of different Sellers entering Bids onto the System to compete to win the business (in part or in whole) offered by the relevant Yildiz Group Company for the sale or supply of the goods and/or services to that company. An eAuction may take the form of a Dutch Reverse eAuction, an English Forward eAuction, an English Reverse eAuction, Japanese Reverse eAuction or any other format notified to Sellers within an Invitation.
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Related to eAuction

  • public auction means a method of sale where goods or services are offered by the trader to consumers, who attend or are given the possibility to attend the auction in person, through a transparent, competitive bidding procedure run by an auctioneer and where the successful bidder is bound to purchase the goods or services;

  • Auction shall have the meaning specified in Section 2.1 hereof.

  • Dutch Auction means an auction (an “Auction”) conducted by Holdings or one of its Subsidiaries in order to purchase any Term Loans under a Tranche (the “Purchase”) in accordance with the following procedures or such other procedures as may be agreed to between the Administrative Agent and the Borrower:

  • Wholesale auction means an auction of motor vehicles restricted to sales at wholesale.

  • Reverse auction means a purchasing process in which offerors submit proposals in competing to sell services or supplies in an open environment via the internet.