Common use of Reverse Auction Clause in Contracts

Reverse Auction. Wherever RA is declared in the special terms and conditions of tender enquiry, following shall be applicable and Bidders to confirm the same: <BHEL shall be resorting to Reverse Auction (RA) (Guidelines as available on ▇▇▇.▇▇▇▇.▇▇▇) for this tender. RA shall be conducted among all the techno−commercially qualified bidders. Price bids of all techno−commercially qualified bidders shall be opened and same shall be considered as initial bids of bidders in RA. In case any bidder(s) do(es) not participate in online Reverse Auction, their sealed envelope price bid along with applicable loading, if any, shall be considered for ranking.=

Reverse Auction. Wherever RA is declared in the special terms and conditions of tender enquiry, following shall be applicable and Bidders to confirm the same: <“BHEL shall be resorting to Reverse Auction (RA) (Guidelines as available on ▇▇▇.▇▇▇▇.▇▇▇) for this tender. RA shall be conducted among all the techno−commercially techno-commercially qualified bidders. Price bids of all techno−commercially techno-commercially qualified bidders shall be opened and same shall be considered as initial bids of bidders in RA. In case any bidder(s) do(es) not participate in online Reverse Auction, their sealed envelope price bid along with applicable loading, if any, shall be considered for ranking.=ranking.”