Sign up now for TIME's WorldWatch email newsletter. And many goods and services suppliers would love a chance to bid for often lucrative private and public sector contracts. And therein lies an opportunity exploited by DoubleTrade .
Buyers post their invitations to tender on the site at no cost.
Suppliers can then either sift through the postings themselves, or register with DoubleTrade and receive free e-mail alerts every time a relevant new tender is posted. For buyers, it's an inexpensive and efficient means for locating new suppliers, while suppliers use it as a tool for uncovering new bidding opportunities, particularly foreign ones. DoubleTrade may eventually charge winning bidders a fee for each completed deal. It is also developing management tools to sell that will allow buyers to automatically sort through hundreds of bids, using such criteria as cost, availability and delivery time. Additionally, it will be able to help buyers automatically review their contracts and put them out for rebidding more frequently.