What collection? The one to be auctioned.

ERA service providers

), a framework agreement concluded with five ERA service providers, designed to supply the ERA services to the public sector.

AUCTION SALE

In the United States, the move to ERAs has been driven, at least in part, by entrepreneurial federal agencies that offer other agencies reverse auction services on a fee for service basis (www.buyers.gov,).

Notably, complaints filed by bidders during the auction (the system allows filing those online through the specific e mail service provided on the website) do not suspend the ERA although they must be dealt with by the auctioneer before closing an ERA.

Suspension of auctions

Sale of equipment at auction.

Decisions to suspend may be taken by auctioneers either on their own initiative or at the request of bidders.

One of the inherent features of an ERA is that it enables current information about the status of the auction to be provided to bidders automatically and instantaneously as an auction unfolds.

The sections below address aspects of pre auction, auction and post auction stages commonly regulated by ERA specific provisions of existing regulations.

Article 47 bis. Conduct of electronic reverse auctions in the pre auction period

In model 3 auctions, the winning bidder is not known until after the full evaluation of auctionable and non auctionable criteria.

A minimum period of time is usually required to elapse between the issuance of the notice of auction or invitation to the auction, as the case may be, and the opening of the auction.

Article 47 bis. Conduct of electronic reverse auctions in the pre auction period

Invitation to auction

Auction stage

Yeah, I sell them.

If, however, the auctioneer is disconnected for more than 10 minutes, the ERA is suspended and resumes on the date and time notified to the participants by the auctioneer through the COMPRASNET website.

Ask the chairpersons and CEOs of Sotheby's and Christie's.

A third party ERA service provider usually charges a commission for its services.

Details of the auction stage are not regulated but left to a procuring entity or a third party ERA service provider.

Article 47 ter. Conduct of electronic reverse auctions during the auction itself

Immediately after abortion of an auction, the reasons for the abortion shall be communicated at the Internet address fixed in the auction rules to those bidders who were last in participating in the auction (para.

A. Pre auction period

The holding of the auction

Pre auction stage

Post auction

Come to the auction tomorrow.

For instance, the imposition of the cap in Poland is said to have contributed to the low rate of usage of ERAs in that country, since small value ERAs do not allow the costs of conducting the auction (including the fees and costs of the service provider) to be recouped.

The Brazilian system permits bidders to challenge the time fixed for the auction and request extensions of the auction.

The auctioneer will return to the bidding session whenever it is possible to do so, without prejudice to the bids submitted during the time the auctioneer was disconnected.

Most information related to an ERA is made available to participants already at the stage of advertising a notice of auction, in particular in the auction rules.

The fact of suspensions and justifications are automatically reflected in the records of ERA.

They put these in auctions.

Other information, such as the starting price in the ERA or information about a third party ERA service provider, is also usually provided.

Those are agencies that provide a buyer the services of an auction manager to set up and administer the auction, and advice on purchasing method to utilize.

Following the holding of the auction on 10 and 11 July 1997, it was necessary to close the contract with the auctioneer, receive and record the proceeds and effect payment to the vendor.

In some systems, a general requirement is found to provide to participating bidders certain basic information about the progress of an auction on an on going basis, such as information that allows bidders to ascertain their current relative rankings, the number of bidders participating in the proceeding, and the time remaining for the reverse auction.

Other measures may be required to be taken to set up an ERA and to ensure that all bidders are capable of participating in an ERA, for instance, through provision of training and holding simulated auctions.

The questions that such regulation should address, without however over regulating the subject, include (a) when, and for what type of goods and services, the use of ERA is appropriate and when it is not (b) how to prevent its overuse and (c) what safeguards must be in place to mitigate risks stemming from the use of ERAs.

(c) The procuring entity may also at any time announce the number of participants in the auction but shall not disclose the identity of any bidder during the auction until the auction has closed.

Some delegations considered that only the price should be subject to auction, so as to ensure transparency in the process.

OGC launched Reverse Auction Framework (RAF, available at http www.ogcbuyingsolutions. gov.uk RAF default.asp.

Other pre auction measures