More clients adopt online bidding
More clients adopt online bidding
- 2002
- Building 267(8220) 8 February 2002, 16(1) .
Cable & Wireless and BP are the latest construction clients to consider the online procurement process known as 'reverse auction bidding' . The process involves the client inviting prequalified firms to tender for work on the internet and displaying the lowest bid on a website just before the auction starts. Firms have 45 minutes to undercut this figure. Specialist contractors argue that the process undermines Egan principles and want to stop reverse auctions spreading through the industry.
ONLINE BIDDING
INTERNET
Procurement
CONSTRUCTION CLIENTS
CONSTRUCTION INDUSTRY
REVERSE AUCTIONS
Cable & Wireless and BP are the latest construction clients to consider the online procurement process known as 'reverse auction bidding' . The process involves the client inviting prequalified firms to tender for work on the internet and displaying the lowest bid on a website just before the auction starts. Firms have 45 minutes to undercut this figure. Specialist contractors argue that the process undermines Egan principles and want to stop reverse auctions spreading through the industry.
ONLINE BIDDING
INTERNET
Procurement
CONSTRUCTION CLIENTS
CONSTRUCTION INDUSTRY
REVERSE AUCTIONS