|What are forward e-Auctions?
Forward e-Auctions are the most common type of e-Auctions. A typical Forward e-Auction consists of several potential buyers bidding for goods and services provided by a single seller. These buyers and sellers can be small or large organisations or even individuals. In a forward e-Auction, the buyers bid on the seller's item and the price of the item generally increases by fixed increments during the auction.
- The seller posts his item on the auction portal
- Buyers register and compete in the bidding process by surpassing each other's bids.
- The buyer who makes the highest bid during the auction is the one who wins.
When you are selling all you need is the best price for your asset in the shortest time possible. This needs reaching out to prospective buyers to maximize the returns and discover the right price. By selling your NPAs / non-core products in a profitable way you give your business an edge in a highly competitive business environment.
|What we Offer|
C1 India’s Forward e-Auction platform, a web based application used to sell goods online, helps you achieve your business objectives efficiently. It not only gets you buyers from across the globe but also helps you get unbeatable price for your assets. Some key features of our Forward e-Auction Engine are-
-User friendly dashboard with separate login for buyers & sellers
-Functions to increase bids in fixed increments
-Auto extension support
-Detailed reports sent to clients on auction completion
-Supports Sealed Bid e-Auction, Price e-Auction, Rank e-Auction and Dutch e-Auction algorithms.
-Multilingual and multicurrency support with SMS and email alerts
-Demo e-Auctions to make all stakeholders aware about the system and its functionalities.
|What Do You Gain?
Top benefits from our Forward e-Auction engine include-
-Price discovery in a competitive environment
-Cutback in clerical costs
-Lesser arbitration time
C1 India has been offering its forward e-Auction solutions to several big clients from the BFSI Sector. C1 India works exclusively with private as well as public sector banks in selling non-performing assets/distressed assets through forward auctions. The NPA auction, as is widely known, is conducted on www.bankeauctions.com, a portal dedicated to sale of property through forward auctions. This year, we conducted two Mega e-Auctions for the country's largest lender, State Bank of India. We have executed several thousand Forward e-Auctions for SBI and its affiliates, Oriental Bank of Commerce, Bank of Baroda, Punjab National Bank, Central Bank of India, Dena Bank, Punjab & Sind Bank, and Indian Bank.
One of the biggest flagship projects that C1 India is undertaking in the Telecom Sector in 2015 is the e-Auction of Private FM Radio Channels(Phase 3) with the Ministry of Information & Broadcasting. The auction will be conducted through a Simultaneous Multi Round Ascending auction algorithm. This algorithm is typically deployed in scenarios where the buyer is interested in price discovery.
Use our Forward e-Auctions solutions today to make the maximum impact in your sourcing process. For any queries, send us a mail at email@example.com. We would love to get back to you!