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"Auction" bidding mode

Create an offer in "Auction" mode on Roolz logistics platform. Read the steps for successfully creating an offer and submitting a bid in "Auction" mode.

All notifications regarding bids on your offers are sent to the email address indicated in your profile (on the Login and Security page).

Auction:

  • A mode where each participant can make their own bid;

  • Suitable when you mostly care about the cost of transportation;

  • The lowest bid wins automatically when the auction duration ends;

  • You can select the winner manually and the offer will be marked as "Winner selected manually";

  • If the offer does not specify the price, then the first bid sets the initial price;

  • If the price is specified in the offer, the first bid must match this price or be lower;

  • There are 2 active bid statuses in the auction: “Best” and “Outbid”;

  • All subsequent bids must differ from the current best bid by the minimum step specified by the offer owner when creating an offer. This allows to avoid slight decreases in cost.

In order to create an offer in "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 information about your shipment, delivery time and other conditions.

3

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

4

Indicate the cost of transportation, 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 select "Accept bids without VAT" (if you specify that bids with and without VAT are allowed, 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 bids. This is useful when you refund VAT, but also want to work with non-VAT companies if they offer a better net value.

5

Specify the minimum step size between the value of the current best bid and a new bid. To place a bid, the value must be lower 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 only be visible 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 deadline, the bid is automatically rejected.

Important! If the winner does not have time to confirm their bid on time, and the offer owner wants to give them additional time to confirm, they can extend the bid confirmation period in the offer itself, or via "My offers" section on the page of the relevant offer.

If the winner still does not confirm the bid on time, the owner can still select this bid as the winning one. In this case, the confirmation cycle will start over.

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 relevant on the exchange. The default value is 72h, but you can choose shorter time, 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 "Auction" mode.

How to place bids on offers in "Auction" mode?

Note! A user can only have one active bid on a particular offer.

For example, you are a member of both company A and company B. You bid on an offer from company A and then bid on the same offer from company B. In this case, the bid from company A is automatically canceled because both bids were placed by the same user.

You can only place bid on an offer that is in the "Published" status.

1

In the "Search freights and transport" tab, go to the offer with the "Auction" indicator.

2

Click "Make a bid" button on the right.

3

In the window that opens, specify the cost and select taxation type for your offered cost.

If the offer owner specified the price with VAT and selected "‎Accept bids without VAT"‎, you can also select this types of taxation.

If the owner only specified one type, you will only be able to place bid with this type of taxation.

If you wish, you can write a note. For example, you have an interesting offer both in terms of price and transportation conditions. When all information is filled in, click "Make a bid" button.

4

The status of the placed bid can be tracked in the offer itself. Depending on whether the bid is active or not, it will be displayed in the corresponding block (e.g. if you canceled the bid, it will no longer be "Active"). Your bid will be marked as "Best" or "Outbid" depending on your competitor's bids.

5

You can also view bids statuses on "My bids" page. All bids are displayed according to their status.

For example, if you placed a bid and the bidding is in progress, your bid appears in the "Bidding" column. Once the bid wins, you need to confirm it and it will then appear in the "Confirmation" column.

On "My bids" page, you can also cancel bids or make new ones.

Important! Do not forget to refresh the page manually to keep track of competitors bids and win!

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