Awarding Winner in Forward Auction

The auctioneer who has the org admin role can view the responses for the auction once the bidders start submitting their bids for the auction. The auctioneer will be able to view the lead bid value (bid with the highest price) and the corresponding bidder in real time based on the competitive bids being submitted during the auction (bidder name will be masked if set so during the creation of the auction). Upon reaching the auction close time, the auction closes and the status of the auction gets updated to Closed. The auctioneer then selects the winning bid based on the organization guidelines and the status of the auction will reflect as Awarded.

The auctioneer can generate a report containing the details of the bidders and bid details once the auction closes. The report can also be generated later on after the selection of the winner.

Users can access the forward auction (FA) records from To-do’s, bell notifications or email notifications.

To select the winner of a forward auction:

1. Log in to the IENT application.

   

2. On the homepage, click the Forward Auction app.
   The Forward Auction app list view screen is displayed along with all the existing auctions.

   

3. To determine the winner of an auction, click the Forward Auction ID of the auction that has closed. (It can always be accessed even before the auction is closed to view the bids submitted till that point of time. Also, the Edit button is available till the auction closes.)
   The Forward Auction Details screen is displayed in read-only mode.

   

4. To view and generate a report for the auction, click Generate Report button, if required.
   The Report screen is displayed.

   

5. Click Download Report to download the report.

6. Click X.

7. Click the Response(s) tab.
   The Response(s) screen is displayed.
   The screen displays the ranking of the bidders based on the total bid value.

   

8. Click each bidder name to view the bid details (bidder names will be masked if set so during the creation of the auction).
   The Details section is displayed along with the bid details from the selected bidder.

   

   Note: The Edit button will not be available before the auction is closed.

9. Click the bidder’s name that has been determined as the winner of the forward auction.
   The Details section is displayed for the corresponding bidder.

10. Click Edit.
    The Details section reloads in edit mode.

    

11. Click the checkbox Select this Bidder as winner for this Forward Auction.

12. Click Submit.
    The auction winner selection is saved and the winner’s badge is displayed against the bidder’s record.

    

    The winning bidder gets notified about the auction result. The auction record shows status as Awarded in the Forward Auction app view list view screen.