"Auction" bidding mode

In order to create an offer in the "Auction" mode, you need to:

Note! "Auction" mode is available for freight offers only.

1

Click "Create an offer" in the upper left corner and select "Freight".

2

Fill in the obligatory data about your shipment, delivery time and other conditions.

3

In "Rate and payment" block, select "Auction" mode.

4

Indicate the cost of transportation (participants' bids may be higher or lower than the indicated cost), select the type of taxation.

You can start an auction without specifying the price. The first participant places any bid that the next participants must outbid, subject to a minimum bid step.

It is also possible to specify "Accept bids without VAT" (if you specify that bids with and without VAT are available, participants will be able to choose the type of taxation independently when submitting a bid).

To determine the best price between VAT and non-VAT bids, all values are brought to a single tax measurement by deducting VAT percentage in VAT rates. This is useful when you refund VAT, but also want to work with non-VAT companies if they offer a better net value.

5

The minimum difference between the value of the current best bid and a new bid. To place a bid, the price must be better than the current best bid, taking into account the minimum step. Example: If the minimum step is $50 and the current best bid is $500, the new bid must be $450 or less.

6

Set a deadline for the winner to confirm the bid.

The winner is automatically selected based on the lowest cost criterion when the publishing period ends. However, the owner of the offer can select the winner manually. In this case it will be marked in the offer that the winner was selected manually, this will be visible only to the owner of the offer.

Once you select a winner, they must confirm their bid. If the winner does not confirm the bid within the specified time, the bid is automatically rejected.

7

Publish the offer on a private or public exchange (or both). Once the offer is published, it can accept bids from participants. As the owner of the offer, you will be able to see all bids participating in the auction. To do this, you must click on your offer.

8

Specify the duration of publication, i.e. how long your auction will be on the exchange. The default is 72h, but you can choose less, such as 24h or 48h.

You can also choose different duration by selecting "Specify your own time" or "Since first bid" checkboxes (the countdown of the duration of publication will start when the first bid is received).

9

Click "Publish now" at the bottom of the screen. Done! The offer has been published in the "Auction" mode.