Auctions

Forward Auctions: 

It is a process to dispose or sale non-serviceable articles lying with the government department. The bidders may be invited to participate in an Auction where the bidders try to outbid a highest offer. The auction is held for a specific period of time called auction hour(s) 

Reverse Auction: 

Reverse auction procedure can be utilized as an extension to the awarding phase of a tendering procedure. The bidders may be invited to quote lower than the opened prices to facilitate the tendering authority to get better prices to the tender.