The new agreement will allow buyers to log onto either FedBid.com or
It is explained that in a reverse auction, purchasing company posts information online on what it wants to buy and the desired price. Suppliers can then bid on the contact, providing their bid price and other information, such as available inventory volume and delivery dates.
FedBid furnishes to government agencies, educational and health care organizations that buy products like office supplies, computer hardware, hospital supplies and business services from businesses through reverse auctions on FedBid.com.
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