Question: What Is The Meaning Of Highest Bidder?

What is a responsive and responsible bidder?

To be a “responsive” bid, it must meet the criteria laid out in the bidding documents.

Generally, a responsible is a bidder that has the experience, personnel, equipment, and finances to perform the requirements of the contract..

Do eBay sellers have to accept the highest bid?

you don’t have to accept a bid on an auction. once the buyer sees the listing and bids, they are actively bidding and if they win and pay, you will get their shipping information.

What is shill bidding?

Shill bidding in English auction is the deliberate placing bids on the seller’s behalf to artificially drive up the price of his auctioned item.

Who is a bidder in procurement?

Public procurement implies a business transaction between two parties – a buyer and a supplier (bidder). Due to its nature this is usually a public-private deal in which the buyer is a public entity and the (winning) bidder is usually a privately owned company.

What does highest bidder mean on eBay?

Bidding on an eBay auction is a great way to get the item you want – at a bargain price. Enter your search term to display live search results. … When the listing ends, the highest bidder wins the auction and pays for the item. Tip. Remember, a bid is a binding contract.

How do Bids work?

In a buyer-bid auction, the highest bidder takes ownership of the item at their bid price, whereas in a seller-bid auction, the lowest “bidder” wins the right to sell their goods for the highest bid price accepted by a buyer.

Who sells things to the highest bidder?

auctioneerAn auctioneer is an agent who is entrusted with the possession of goods for sales to the highest bidder at a public auction. He has the authority to deliver the goods on receipt of the price. He can sue for the price in his own name. However, unlike a factor, he has only 3 particular lien on the goods for his charges.

What is the meaning of bidder?

the person who offers the most moneysomeone who offers to pay a particular amount of money for something: In an auction, goods or property are sold to the highest bidder (= the person who offers the most money).

What does the lowest bidder mean?

Lowest Bidder means the party who submits the least expensive total monetary bid in response to a bid invitation.

Can you set eBay to automatically outbid?

ebay allows bidders to place a high maximum bid, then uses just enough of that bid to keep them in the lead. This is called proxy bidding. You’re being automatically outbid because another bidder has placed a maximum bid on the item. … The current bid showing on the item is $5.