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.

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.

In the systems that recognize ERAs as a distinct method, the notice of an ERA is usually given through the Internet on the dedicated website of the central government registry for procurement opportunities and or of the procuring entity, as well as on the website of any third party ERA service provider.

(iii) The website address at which the electronic reverse auction will be held, and at which the auction rules, the tender and other relevant documents will be accessible

If I controlled the Internet, you could auction your broken heart on eBay.

In Brazil, all ERA proceedings are automatically generated by COMPRASNET, in the form of the records of the proceedings, which is electronically signed by the reverse auctioneer and assistants, and is published on the COMPRASNET website at the end of the session.

U.S. Navy Supply Systems Command, Navy Auction Site, Getting started, available at http www.auctions.navy.mil about gettingstarted.html.

See U.S. Navy Supply Systems Command, Navy Auction Site, Getting started, available at http www.auctions.navy.mil about gettingstarted.html.

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.

(ii) The website address at which the electronic reverse auction will be held, and at which the auction rules, the tender and other relevant documents will be accessible

What collection? The one to be auctioned.

In some systems, the law requires the name of the successful bidder to be communicated immediately after termination of the auction to the Internet address fixed in the auction rules.

AUCTION SALE

They only sell them on their website.

In a number of ERAs held by public entities, tangible cost savings directly attributable to the use of the on line auction have been reported.

It actually got so bad that somebody put our country up for sale on eBay.

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.

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

Some systems regulate specifically the content of the notice on the winning bid, including the identity and coordinates of the winning bidder, the price of the winning bid, and the place of publication (e.g., on the website specified in the notice of the auction).

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

A. Pre auction period

The holding of the auction

Pre auction stage

Post auction

Come to the auction tomorrow.

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.

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.

(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.