"Although each bidding contractor's identity remains guarded, the low bid is immediately posted on the auction site...for all invited contractors to view," the rules stated. "Contractors are allowed to underbid...by any dollar value and in decrements as low as one dollar. Although there is a posted closing time, the bid may remain open if a contractor submits a bid within two minutes of the closing time, thereby forcing a five-minute overtime, permitting contractors to further underbid...There is no limit to the amount of overtimes...the winning bid is awarded when no contractor wants to further underbid."
BID SHOPPING. Halfway through hearing the rules, I realized that this was less about technological innovation and more about utilizing technology for ease in good old-fashioned "bid shopping." The client inquired if my firm would take part in the auction bidding. Mentally caught off-guard and still stunned by the bidding rules, my colleagues and I indiscriminately agreed.