Submitting Response for Forward Auction

The user authorized by the organization to submit bids in response to an auction initiated by the auctioneer will be able to submit bids against an auction. The users with role Partner Admin and access to the Forward Auction app will be able to submit bid for an auction.

The users (partner admin) associated with the bidders included in the auction gets notified when an auction is open and live.

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

After submitting a bid, the bidders will also be able to see the ranking of their bid based on the response of other bidders and accordingly can submit fresh bid. When a new bid is submitted, it overrides the previous bid and the latest bid is considered for the auction. The bidders will be able to view the lead bid value and the time remaining for closure of auction (The remaining time for closing of an auction gets updated based on criteria set by the auctioneer, such as bid submitted few minutes before the closing time.)

To login, follow the login process described in the section How to Login to the IENT Application.

To submit bid response to an auction:

1. Log in to the IENT application.

   

2. On the homepage, under My apps, click Forward Auction app.
   The Forward Auction app list view screen is displayed.

   

   This screen will have the following status for the auction records:

   • Published: When a new auction is live and available for bidding.

   • Bid Submitted: When bidder submits a bid.

   • Closed: When the auction is closed.

   • Selected as Winner: When the auction is awarded to the bidder.

3. Click the Forward Auction ID that needs to be responded.
   The Details screen pertaining to the forward auction is displayed.

   

4. Click the Response(s) tab.
   The Response(s) screen is displayed.

   

   This screen displays the lead bid value, and remaining auction time. In the preceding screen, the lead bid value is zero and bid rank is not available as no bidders have submitted bids at this point of time.

5. Click the Bidder Name (will display the organization’s name) to provide bid response.
   The Details section is made available.

   

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

   

7. Enter bid details in the mandatory fields.

8. Click Submit.

9. Confirm the bid by clicking Submit in the pop up window.

   

   The bid gets submitted and the top section of the screen displays the bid details along with the lead bid value, bidder’s total bid value, bidder’s bid rank and remaining auction time.

   

   The Details tab will also display the lead bid value, bidder’s total bid value, and bid rank.

   In case, another bidder submits response while the auction is still open, the updated bid rank will display. Also, the remaining auction time may get updated, as per the conditions set by the auctioneer.

   

   In the preceding screen, the bid rank is updated and displayed as 3 based on the competitive bid submitted by other bidders.
   The bidder can submit multiple bids till the auction is open. The latest bid will be listed in the Response(s) tab in the lower section of the screen and is considered for the selection of the auction winner.

   

   In the preceding screen, the bid rank is again updated as 1 based on fresh bid submitted by the bidder (Doc Material). Also, the Remaining Auction Time is updated in this particular scenario (as per the bid conditions set by the auctioneer).
   The Forward Auction app list view screen displays the status of the FA as Bid Submitted.

   

   Once the auction closes, the status of the auction record will be Closed. If the bidder emerges as winner, the Forward Auction app list view screen will display the status of the auction record as Selected as winner.