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.
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
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;