Electronic
Commodities Store III- (ECS III)
What is NITAAC's Reverse Auction Process?
NITAAC's Reverse Auction is an online procurement tool for government buyers to purchase commercial items. Using a model endorsed by OFPP and the Congressional HGRC, NITAAC offers government buyers a reverse auction service which represent the best available combination of procurement technology and service, providing a proven, Internet-based marketplace through which public sector buyers can buy commercial items - primarily price-driven commodities - from commercial sellers in a dynamic competition forum.
Key Benefits:
- Improving buyers' compliance with Federal Acquisition Regulations
- Helping to ensure "the consistent use of fair and open competition"
- Reducing the cost of goods purchased with reverse auction bidding
- Decreasing buyer workload by streamlining the bidding process
- Enabling sellers to submit multiple bids with real-time competitive ranking
- Improving small and minority business utilization
- Performing seller recruitment and support services
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