Page 7 of 16
An estimated quantity with Unit of Measurement (UOM) has been provided
against each category Customers will have to place their quote in ₹ /UOM for the respective categories
It is mandatory for every bidder to place bid in all the categories put up for auction. System will not accept any bid if quotes are not
placed in all the categories A total value (summation of all the individual lot value) of all the lots of a bidder will be auto calculated and shown on the screen of the bidder
System will decide the Hon the basis of Total Auction Value (basic value, i.e. the total value covering the value of all individual categories or
lot as shown in table below System will allocate a rank to every bidder submitting bids. The rank will be allocated based on the total value of all the lots and the rank is dynamic. The higher is the total value, higher is the rank. Rank 1 is the highest rank. Any bidder having any rank below 1 can improve it by increasing his total lot value by bidding higher in individual categories/lots.
The dispatches and invoicing would be on ₹ /UOM basis
for respective categories If the actual quantity exceeds the estimated quantity during dispatch, the winning buyer will need to make extra payment for the additional quantity
before lifting the material In case of shortage against the indicated quantity, buyer will get
the refund from the seller Rate/UOM for the respective category will be the basis for calculating the amount of additional payment or refunds due to difference in final quantity and auctioned quantity Illustration for calculation of total auction value and selection of winning customer Category / Lot No Asset description Quantity UOM Customer A Rate in ₹
/UOM Customer B Rate in ₹
/UOM Total Price of A Total Price of B Cat 1 Material 1 2000 Litre
50 60 100000 120000 Cat 2 Material 2 1000 Litre
120 125 120000 125000 Cat 3 Material 3 500 Kg
80 90 40000 45000
Share with your friends: 
