Welcome To Bidzpro
1) What is reserve price?
Reserve price is a concealed minimum price that the seller is expecting for a sale item. In a reserve price auction, the seller is only obligated to sell the item once the bid amount meets the Reserve Price.
2) What is minimum bid factor?
Bid factor is the difference between the bid and the ask price.
3) what is opening price?
Opening price is the amount the bid starts from.
4) What is start date and time?
The date and time at which the event becomes open for bidding.
5) What is end date and time?
End date and time denotes the closing of the event meaning bids are no longer accepted after that particular time.
6) What is RFI ?
RFI (Request for Information) is pre-qualifying the bidders on the basis of factors such as experience, financial ability, managerial ability, reputation, etc. to develop a list of qualified bidders who will receive the invitation-to-bid.
7) What is bid quantity?
Bid quantity or bid price is the price at which a dealer is prepared to buy assets.
8) What is EMD Amount?
EMD is a deposit amount that has to be paid by the bidder who is participating. The purpose of collecting EMD Amount is to ensure the real participation of the bidder.
9) What is push to E-Tender?
Push to E-Tender, available for both buyers and sellers, if you feel that the bids submitted are not satisfactory and wanted to have it enrolled again, then you can enjoy the option of pushing your RFIs/Quick Quote to E-Tender. Only the completed RFI's and Quick Quote can be pushed to E-Tender / Online Auction Having said that, you can push a completed E-Tender to auction as well.
10) Should I register in Bidzpro to participate?
Yes! Registration is mandatory to participate in the bidding.
11) What is the fee for registration?
Registration is absolutely free of cost.
12) How do I create my user access in Bidzpro?
As you register yourself with Bidzpro, a confirmation e-mail will be sent to the registered Email. Upon clicking the confirmation link, you will redirected to the create user access form where you can fill up the details and create your user access.
13) How to participate in online bidding?
The participants have to press the “interest” button in the E-Tender menu, in turn, the tenderer will approve/disapprove the participant based the details entered. If it is approved, the “ Bid Now” button will be enabled to the participant to post the bid. The same applies for online auction.
14) What is payment terms?
Payment terms is the period allowed to a buyer to pay the amount due, e.g 50% in advance.
15) What is delivery lead in times?
The time from the receipt of a customer order to delivery of the product/service.
16) What is basic price?
The initial price of products or services without the additional charges.