e-Auction is the best negotiation tool currently
available in the market to fetch in better prices for disposal or procurement of goods due to its unique feature which
allows the bidders to revise their bids as many times as they want within the pre-defined time to stay in competition.
In this mode of auction, the authority floating the auction intends to
dispose of some of their materials (scrap) to the prospective buyers. The buyers can revise their bids as many
times by incrementing their last bid by a pre-defined value. And finally when the auction is over, the bidder quoting
the highest price bags the order.
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