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  1. Web site Reverplace.com has been created to serve as a business mediator or bridge between Buyers and potential Suppliers, for this reason, all negotiation conditions and terms agreed between Buyers and Suppliers invited to auctions, before, during and after any reverse auction are their sole responsibility. Purchases, services and all kind of deliveries will be agreed also between the parties previously mentioned without any intervention of Reverplace.com. This web site will be not liable for any agreement breach of Buyers or Suppliers registered on this site.
  2. Reverplace commitment: This web site has the commitment to not disclosure intentionally your personal data to anyone. In the same way, Reverplace will not request from buyers or suppliers any authorization to share data with other parties.
  3. Auctions at Reverplace are private, and therefore it will be required that Buyers interested in receive auction offers from invited suppliers know their emails. It is also responsibility of Buyers to know with precision the relationship between these suppliers and the Companies they affirm to represent.
  4. Auction Data: Reverplace.com has the commitment to keep in reserve the data corresponding to auction offers, delivering to users only the pertinent data in conjunction to his(her) rights, as follow:
    • Buyers: Detail and listings of all auction opened with their specific Id only: historic auctions, active not started, started in progress, auctions without invitations, results and graphics of an auction, statistics, list of invited suppliers for specific auction, and other related with the current logged in buyer.
    • Suppliers: Detail and listing of auctions to which they were invited with their specific ID only: historic auctions, not started auctions, auctions in progress, statistics, won auctions, email of buyer who invites to the auction, and other related with the current logged in supplier.
  5. Reverplace don't keep records of phone numbers, addresses or any other user data, and will not request them from users, unless necessary for support purposes. For that reason, all information (Buyer / Supplier) required between both parties before, during and after the auction and related to existence, veracity, seriousness of Suppliers and Buyers will be responsibility of auctions participants. Buyers must be certain about the relationship between suppliers invited and the Companies they represent. Suppliers need to be certain about buyer seriousness.
  6. Reverplace will not accept any responsibility in reference to Specs, Terms and conditions, etc.. of any particular auction. It is clear that Buyers, by opening an auction, will create in the opening form for their invited suppliers proper documentation, terms and conditions (for each auction), or will use attachment(s) when they send invitations to suppliers. Reverplace support refers solely to the use of the platform, and doesn't have inference in details and content of any auction. Reverplace will not clarify to suppliers Specs, Terms and Conditions from any auction.
  7. No matter the result of an auction, this result does not endanger in any kind Reverplace.com, or the firm proprietary of this web site, due to the fact that this result is the simple interaction between independent Buyer and his(her) invited Supplier(s). To Suppliers will be recommended the thoroughly revision of all documentation presented by the Buyer. Having in account that the result of an auction is firm if the Buyer terms & conditions determine this. However, Reverplace will not and can not be liable if Supplier who won the auction doesn't want to comply with the delivery of good(s) and/or Service(s). In other occasions, Buyer conditions of the auction are showing the need to obtain the lowest price possible (RFQ auction), but there is not an immediate buying commitment per se (Companies which require issuing of purchase orders for instance or for budgeting purposes). If the auction will not implicates a firm commitment by closing, this needs to be communicated at front from Buyers to invited Suppliers, and suppliers should acknowledge this condition. Reverplace will not be responsible if a buyer declares void an auction or if doesn't want to award a deal to a Supplier who won an auction.
  8. Documents between parties: Reverplace.com is not liable or responsible for documents exchanged between Buyers and Suppliers, including attachment(s) delivered with Reverplace invitation(s), or delivered directly from Buyers email. Reverplace.com will share with the authorities (if officially required - up to 2 years old information), the Specs or Terms saved in the plattform, however we will not keep records of attachments delivered with invitations. The reason: We don't need to keep confidential information in our data base.
  9. Reverplace.com and their owners will keep unscathed at any moment of any litigation or legal confrontation between parties (Buyer / Suppliers) before, during and after any reverse auction.
  10. Reverplace.com and their owners, are not responsible for the internet transaction speed and in particular the condition and efficiency of the server where the web site www.reverplace.com is hosted. Participants of reverse auctions at Reverplace.com (Buyers and Suppliers) are entirely responsible to get and use fast and reliable internet connections.
  11. Auctions interrupted due to bad or broken hosting conditions, can be extended by Buyer with a request to Reverplace support : This email address is being protected from spambots. You need JavaScript enabled to view it., with the new closing date and time. Support response time can take up to 24 hrs. (have this in mind for auction extension). Only if the hosting company recognize the service interruption, the auction closing data will manually changed and confirmed to the buyer. Buyers have the responsibility to confirm invited Suppliers an eventual changed in the closing date & time.
  12. An auction can be declared void by a Buyer if there are not enough participants or any other reason. Reverplace is not responsible for voided auctions.
  13. Buyers who invite Suppliers to reverse auctions are authorizing expressly Reverplace.com to communicate invited Suppliers the email address of the person who invites to the auction.
  14. Suppliers accept expressly and authorize this web site to publish offers they are placing during a reverse auction, using their ID partially hidden or not, or using participant alias.
  15. Auctions won by Suppliers can be honored or not by Buyers, depending on Terms & Conditions of individual auctions (made inside or outside of the web site). Reverplace.com is not responsible for auction which are not honored by Buyers.

Reverplace Auctions

Reverplace offers the most powerful online service of Reverse Auctions to buyers who are willing to obtain the best price for acquisition of goods or services, inviting sellers to compete for a business on the Web during a predetermined period of time.

Essentially, .... buyers publish on the Web Specs and Conditions of what they intend to buy, ... and then,  ....

Suppliers or Vendors, invited by the buyer, will compete during the established time for the auction. Offers made will be showed ranked ascending online (lowest up).

Once the auction timer goes to end, the lowest price offered by a seller will be considered by the buyer.

Simple Steps

Buyer

Register Buy Tokens Open Auction Invite

 

Supplier

Gets Invitation Register Participates on Auction

Obtain savings with your purchases ..... use Reverse Auctions!

Buyers at Reverplace

As Buyer, the best way to obtain the lowest prices on a deal is, without doubt, making compete the suppliers for the deal on a bid. This is the core purpose of reverse auctions .. getting savings for you. Reverse auctions are perfect for the acquisition of specific goods or services purchased during a period of time (blanked orders for goods and services). The main motivation on reverse auctions is the attainment of savings, since characteristics of items/services are well defined and the quality should be controlled by buyer during the agreed supply period. Register and participate as buyer. Important: Opening auctions require credit (Tokens).


Buyers define by means of a specific reference (Part Number / produtc Ref) or with help of a detailed description, what they intend to purchase, placing this information on a simple form, including purchase conditions like: Delivery place, delivery time, payment conditions, packaging, general terms and conditions, etc... and then,.. buyers invite suppliers to a reverse auction, where they underbid trying to get the deal.

Terms and Conditions of every auction are always determined by the buyer in the opening form or with an additional document accesible for all suppliers invited to the auction. They are sometimes simple like: "Payment terms 30 days net invoicing" or much more complex for big deals including Credit conditions, insurance bonds, warranty terms, quality standards, technician certifications, etc...

Buyers also are responsible for giving enough instruction to suppliers invited to the auctions, assuring that their offers will be in accordance to the terms and conditions requested.

Suppliers preparation

Suppliers have to be prepared to bid against other potential suppliers, reviewing in advance and thoroughly all specs and conditions of the bid, in addition to the required cost calculation, and assuring all the time, that the bidding process don't put in danger the resources of the company they are representing. Successful suppliers of reverse auctions are good prepared, with bullet proof and dynamic spreadsheets that can produce ONE (1) single value to be used in the auction with each bid, and know precisely the lowest bid they can do (the economical lowest offer), without sacrificing required quality.


Suppliers who review closely their own supply chain and its cost composition will always have an advantage bidding on reverse auctions.

 

Specific items with large volume sales (supplies / consumables), or long contract periods (services) with low margins, are the cases where suppliers need to be very precise on calculations, reviewing the whole supply chain.

Key elements to be reviewed by suppliers on a reverse auction:

  • Review the whole supply chain backwards (including their own suppliers and manufacturing processes)
  • Precise cost calculation.
  • Definition of the lowest economical limit for the auction.
  • Marketing of products with auction owner (buyer) previous to the auction.
  • Be conscious of the fact that competitors will offer the same exact product and the deal driver is mainly the lowest price.

Easy Instructions

In Reverplace you can be buyer or seller.

 

Any person registered can open a reverse auction to buy specific goods or services. However the auctions at Reverplace are not Public. Therefore, in order to participate on a reverse auction as a supplier by Reverplace, it is required for this seller to be invited by owner of the auction (the buyer). Buyers on the other side, need to have credit (Tokens) to be able to open an auction. Tokens can be purchased via PayPal or credit card on a secure connection, and the majority of auctions will require only one Token to be opened. One Token investment value = USD 10.


The first step is to get registered in Reverplace. Buyers can act in the name of companies, but it will be the responsibility of SELLERS to check the existence of this liaison Buyer (Owner of auction) with Representing Company at the moment they receive the invitation to the auction. Buyer is also clear about who invites, and which company the seller represents.

Buyers will issue for every auction Terms and Conditions (T&Cs) that sellers will read and accept before entering the auction.

Auctions can finish with a buyer/Company purchase commitment (decisional auctions), if Ts&Cs indicate this automatic decision; or they can be used as tool to obtain the lowest quote of a good or service (RFQ auctions), that later could be transformed in a purchase order (PO) or a contract.

Companies of an important size require to do RFQ-auctions in order to obtain the best price(s), and then buyers proceed to issue the corresponding purchase order in the ERP system for its approval. Awarded supplier will get the PO once approved.