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Forward auction is a form of traditional auction, in which seller offers the item or commodities for sell, and interested parties can bid on it and buy the item or commodities. Forward auction process is lucid to comprehend than its counter-part, which is reverse auction.
In forward auction, seller can list the item or commodity in electronic way, for example on a particular website or application, then after sellers can easily bid with their bid amounts to procure the item or commodity, eventually the buyer with highest bid wins the auction. This auction is pretty straightforward in nature, and does not include complexities.
In this auction, the seller retains the right to choose the any one of the bids which are done on the item or commodity, or reject all the bids if they are not considerable. Forward auctions also benefits the seller as the seller gets the higher amount for his item or commodity.
To participate in forward auction, users must register on B2B Sangam online portal.
After registering on B2B Sangam, user/member can check various on-going forward auctions.
User/member can find the forward auction according to their category, and bid on it. After bidding, user must wait for auction to end.
Post auction results for the bidding and auction will be announced knowing who has won the auction.
Forward auction requires user(s) to bid on listed auctions. User should avoid fake bids when putting bid on auction, this can ruin other user’s auction experience.
User should manage B2B Sangam’s account properly, and with care. One should not share username and password with anyone.
Prepare auction bid value by considering various facts and calculations. Make sure user place their bid before deadline ends, bids after deadline will not be considered.
Once the auction has ended, and if user have won the bidding process, user shall contact the owner/agency of the listing.
After contacting the owner/agency of the listing, both the owner and you should negotiate the terms of transportation and any other details that are necessary.
B2B Sangam does not intervene in post-auction arrangements, and both seller and buyer party must manage their convenience.
Buyers come with intention to buy.
True value on market value of the item or commodity is assured.
The sellers know exactly when the item or commodity will be sold.
Cement and Concrete products
Chemicals, Solvents & Dyes
Electrical & Electronics
Furniture & Fixtures
Health Care Products and many more..
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