Start Time Start time refers to the time of commencement of the conduct of the online auction. It signals the commencement of the Price Discovery process through competitive bidding. Duration of the Auction It refers to the length of time the price discovery process is allowed to continue by accepting bids from competing customers. The duration of the auction would normally be fora pre-specified period. However, the bidding rules may state the conditions when the pre-specified duration maybe curtailed/extended. The conditions include Curtailment of auction duration in the event of no bids fora specified period of time (Inactivity Time) Automatic extension in the event of bids being entered towards the end of the scheduled duration to facilitate the other customers to view and react to the bid.
