Forward auction means the seller posts the offer of selling the products. The supplier drives the auction by specifying the price and item he would like to sell while the multiple buyers submit upward price bids. Reverse auction means the buyer posts the offer of buying the products. The buyer specifies the price and the items he wants and multiple sellers compete for the buyer's business in a downward price auction. Buyers will enjoy dramatic decrease in the price.
Bidder means party who bids the reverse or forward auction.
Buyers and sellers must contact each other and negotiate the terms of each sale. These terms should be defined before the auction is posted. Once you register as a member, it is a free service to post an item at the marketplace. These promotions are free for limited of time. Please feel free to contact us with additional questions regarding fees.