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FAQs for Bankers

e-Auctions are negotiations conducted via an online platform where Suppliers get the possibility of improving their proposals based on market feedback (e.g. rank in negotiation) and are considered to be the most transparent way of conducting negotiations. Basically, there are two types of Auctions. 1.Forward Auction 2.Reverse Auction Forward Auctions are sales oriented auctions, where Auctioneers are trying to sell their products or services. In a forward auction, the buyer bids on the sellers item and the prices of the item increases by a fixed increment amount during the auction and in a forward Auction the highest bid price during the Auction is the one which wins. For example, when a Bank or a Debt Recovery Tribunal (DRT) hold an auction to sell a property or an asset - it will use Forward Auction mechanism. Reverse Auction - Reverse Auctions are Purchase oriented auctions, where Auctioneers are trying to purchase products or services. In a reverse auction, the seller bids on the Buyers item and the prices of the item decreases by a fixed decrement amount during the auction. In a Reverse Auction the lowest bid price during the Auction is the one which wins. For example, if a bank (or any organization) wants to buy computer systems or even transportation services, it can hold a reverse auction to procure goods and services at the best possible price.

A bidder is a person or entity who participates in an auction by placing bids, aiming to purchase an item or property at the highest price they are willing to pay.

Auction events can be either public or private, and the confidentiality of auction data depends on the type of auction and the specific rules set by the auctioneer.

To register for Bank or DRT auctions, you typically need to visit the e-auction platform, select "Register as Individual or Organization," fill out the required details, and agree to the user agreement and privacy policy.

Yes, an individual who is not a registered company or organization can register as a bidder, provided they meet the eligibility criteria and submit the necessary documents.

To retrieve a forgotten username or password, visit the account provider's website, click the "Forgot username/password" link, and follow the instructions to reset your password or retrieve your username, usually by answering security questions or verifying an email address or phone number.

For bank or DRT auctions, it's generally recommended to use a modern, updated browser like Google Chrome, Mozilla Firefox, or Microsoft Edge for optimal compatibility and security.

For DRT and bank auction document uploads, you should primarily use PDF format, and the maximum file size for each document is 5 MB.

Yes, after a bank or DRT auction event, a bidder can typically view their own auction data, including bid details, on the platform used for the auction, often accessible through their login or profile.

Bidders can typically find information about changes to auction parameters through a corrigendum, regular updates on the auction platform/website, and potentially email notifications.