WHAT IS FORWARD AUCTION OF DISCOUNT?

In forward auction of discount bidders provide a discount on the base price where Start bid Discount
Price (in % ) & Bid decrement (Change price in %) will be available in the bidding screen.

Base price’ (in value) for the market would be sent to bidders over mail before the auction.

If start bid price during auction is displayed as zero “0” , it indicate that the auction has started with
base price.

If start bid price during auction is any non-zero figure ( say x), it indicate that the auction has started
with that (x) percentage discount on base price.

In this type of auction bidder can place their bid, which has to be either Start Bid discount or higher
than the start bid discount and bid increment should be in multiples of change price as displayed on
bidder screen. They can revise their bid “n” number of times during the run time of the event.

‘Bidders would be able to see the current market price on placement of a ‘valid’ bid. In case of
placement of ‘Valid & accepted’ bid, they would be able to see the current market price continuously
during the auction. In the scenario of placement of ‘Valid but rejected’ bid, current market price would
be displayed for 1 minute to enable bidders to check the current market price & revise their bid In the
result column ‘OUT BID’ may be displayed incase Manual Bid or Proxy Bid of any bidder is higher
than the proxy bid of a different bidder which is already set for the Auction in the system. Proxy bid is
explained in subsequent slides. Leading bidder would be able to see a “hammer” sign on his screen
indicating he/she is the winning bidder at that moment.

Extension time of the auction is governed by the Auto –extension rule & No manual extension is
 STEPS FOR PARTICIPATION
1) Start bid discount would be displayed in the start bid box.

2) By default the same start bid discount would be reflected in the new bid column & effective bid column.

3) Bidder can change their bid by clicking in the “+” symbol or manually type their bid in New Bid Box.

4) Select the left hand side check box.

5) Click on submit button in order to accept the start bid price

6) Incase of multiple markets submit your bid individually for each market one after the other.

7)Bidder can see their valid & accepted bid(including proxy bid )by clicking on the “Bid details” option.Note:
Increase your bid amount either minimum by the change price or in the multiple of the change price.

CHANGE PRICE

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“Modify watch list”- Please click
5 here and add new markets to
view them on bidding screen.
START PRICE

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 Once you click on submit , Incase of your 1 st bid a Pop up Message would be displayed mentioning the
bidding basis of the Auction for your confirmation. You can click on OK to submit your bid or cancel to
edit.
1) If your Bid is accepted you can see Bid Accepted in the ”Result” column.
2) You can see a small hammer in the “Bid Summary Screen”, which indicate you as a leading bidder in that
market. Once your bid get accepted the current market price will start visible in your bid summary screen
below the “Current MKT Price”
Note:
• Pls. remember that your bid discount value should be more than the Current Market Price in multiple of
change price . At the start of the auction your discount bid should be equal to or higher than the Start Bid
Discount.
• You can use “+” “-” button provided along with the bid box to increase/decrease your bid amount. However
please note that in forward discount auction you can not decrease your discount % from your last
quoted discount.

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STEPS FOR BID REVISION:

1)Bidders can click on the “+” symbol for bid revision & bid would be increase as per the
bid increment set for the auction
2)New Bid would be display under the New bid column or they can manually type their bid in
New Bid Box. Same value as New Bid would be displayed under the Effective bid column.
3)Click on the left hand side check box
4) Click on submit button .
5) In the result column it will be shown as Bid accepted.

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 PROXY BIDDING:
STEPS FOR PROXY BIDDING:

1.To activate Proxy Bidding enter the highest discount % at which you can apply in the “New
Bid” box.
2.Select the Check Box under the “Proxy” column.
3.Check the box provided at the extreme left of the selected row.
4.Click on “Submit”.

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 BENEFITS OF PROXY

• You can give your best bid that you can offer for a market in the system
well in advance. Bid increment has to be in multiples of the change
Discount.

• Your Proxy bid value is neither known to your competitors nor MJ. It
remains undisclosed at the back end of the system. Hence please
remember **You can check your proxy bid value in bid details link** .

• After you activate your proxy bid for the market /item, the system will
bid on your behalf till the amount which you have activated as proxy.
This will continue till such time the Proxy Bid Value is reached and you
will be continuously shown a hammer on your screen.

• It may also be noted that the system will continue to revise your bid so
long it receives a revised bid from your competitor. In case the system
does not receive any revised bid and the market ends, you will be the H1
for that market at the market bid prevalent at the time of closure.
 BENEFITS OF PROXY

• It safeguards you from any disconnectivity, infrastructural failure (like:

• If two bidders activate proxy at the same time then the system will
consider that bidder who activated proxy in the highest discount .
 WHAT IS OUTBID?
If ‘Outbid’ is displayed under ‘Result’ column of bidding screen, that means someone else activated proxy higher than
your bid and in this scenario system will place a bid one increment higher than your last quoted discount for the bidder
who had activated proxy. You can revise your bid if you want to quote higher discount than the Current Market
discount.
Out bid where Current market value & your last quoted value is equal: In the result column it would display “ Out
bid: because same bid has been registered by another bidder earlier than you. Your new bid has to be increased above the
current market discount in order to the bid increment discount”. the Current Market discount which was activated as
proxy by any other bidder prior to your bid. That means your bid is equal to your normal/proxy bid. In such case that
bidder who activated will be considered as H1 bidder. Hence you will be not considered as H1 bidder of the auction at
that time at that discount. You can revise your bid if you want to quote higher than the Current Market discount.

OUTBID

Click ‘OK’ to
continue
AUTO DISPLAY OF REJECTED BID MESSAGE:

In case of Bid being rejected by the system, Reason of bid rejection would be displayed on
bidding screen automatically for few seconds and would disappear thereafter.
To see the message once again you need to click on Rejected link.

Note:
1)If hammer sign disappears from your screen this indicates that some other bidder is the L1
bidder, and in this case you have to reduce your price to become L1 bidder.
2)If your bid is not accepted Bid Rejected will appear in the “Result” column. In this case you
will need to revise your bid.

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 REASONS
FOR
BID REJECTION

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 REASON 1
1)Bid will be Rejected If Effective bid is lower than the start bid ( in case of first bid of the
auction). Reason of bid rejection would be displayed on bidding screen automatically for few
seconds and would disappear thereafter. To see the message once again you need to click on
Rejected link.

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 REASON 2

2)Bid will be rejected if Bid increment is not in multiple of change price from start bid (In Case
Of 1st Bid Of Auction).

CHANGE PRICE

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 REASON 3

3) Bid will be rejected if bid increment is not in multiple of change price from current market
price-( in case of subsequent bid.)

CHANGE PRICE

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 REASON 4
4)Bid will be rejected if effective bid is equal to or lower than Current market price.

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 REASON 5
5)Bid will be rejected if quoted bid crosses the boundary value (top price) for the auction which
is pre-fed in the back end of the system and is not visible to bidders during auction.

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 REASON 6
6)Bid Will be rejected if Effective bid is lower than existing proxy bid
**Bidder can check their proxy bid value in bid details link**

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 REASON 7
7)Bid Will be rejected if Effective bid is equal to existing proxy bid.
**Bidder can check their proxy bid value in bid details link**

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 REASON 8
7)Bid will be rejected if New proxy bid is equal to last proxy bid .
**Bidder can check their proxy bid value in bid details link**

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 REASON 9
9)Bid will be rejected if New proxy bid is lower than existing proxy
**Bidder can check their proxy bid value in bid details link**

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 REASONS
FOR
WARNING MESSAGES
 WARNING 1
Scenario 1: If your effective bid is Higher than or equal to 10% of start bid ( for 1st bid of auction)then a
Warning Message will be displayed with actual % difference from the Start Bid price as “Your Effective Bid is

x % higher than Start Bid . Are you sure you want to bid this price ? Press OK to confirm , Cancel to edit your
bid. Hence check your bid and then press OK to confirm or press Cancel to edit .

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 WARNING 2
Scenario 2: If your effective bid is Higher than or equal to 10% of Current market price( for Subsequent bid
of auction)then a Warning Message will be displayed with actual % difference from the Current market price

as “Your Effective Bid is x % higher than Current market price”. Are you sure you want to bid this price ?
Press OK to confirm , Cancel to edit your bid.

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 WARNING 3
Scenario 3:If Proxy Bid is greater than or equal to 10 % of Current Market Price then a Warning Message will
be displayed with actual % difference from current market price as “Your Proxy Bid is x % greater than
current market Price. Are you sure you want to bid this price?' Press OK to confirm , Cancel to edit your bid.

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 WARNING 4
Scenario 4:If Proxy Bid is greater than or equal to 10 % of Start bid Price then a Warning Message will be
displayed with actual % difference from Start bid Price as “Your Proxy Bid is x % greater than Start bid Price.
Are you sure you want to bid this price?' Press OK to confirm , Cancel to edit your bid.

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Important Information:
You would not able to bid if the decimal place in your bid exceeds the decimal place set for the
auction. In that scenario new bid box would become blank & will see a message as mentioned
below.
**In order to bid further bidder would be required to bid manually type their bid in the
New bid box or reload the Bidding Page to see your last quoted bid price in New Bid Box.
VIEW OF LAST AUTO REFRESH TIME & MANUAL REFRESH BUTTON :

Bid Summary screen of bidding screen is refreshed automatically in every 20 sec to

Note:
Bidders now would be able to view last refresh time in the bid summary screen.

Last Refresh Time

Manual
Refresh Button
Bid Received Flag:

Bid Received Flag, wherever applicable, indicates whether the auction has received any bid or not. “Bid received”
column will Indicate following status for any auction.
 YES: It indicates that the auction has received a valid & accepted bid from any of the bidder attached to the auction
 NO: It indicates that the auction has not yet received any bid.
 N/A: It indicates that the ‘Bid received’ status is not applicable for the auction & you would not be able to know
whether market has received any bid or not in this scenario.

Please Note that Bid receipt flag, wherever applicable, displays the status of receipt of any bid in the auction. It
does not indicate status specific to the bid placed by you. Status of the bid placed by you can be seen under
Result Column.

Status Indication Bid Received Flag

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 AMOUNT IN WORD DISPLAY OF START BID, NEW BID, EFFECTIVE BID.
Bidder now would be able to view Start bid, New Bid & Effective Bid in word by
pointing their curser on respective fields .

Start bid price

New Bid
 THINGS TO REMEMBER…

1.‘Time Remaining’ shows the time left for auction to end in the Bid Summary Screen.

2.‘Number of LIVE Markets' indicate the product for which auctions are live.(i,e How many markets
or how many auctions are running live.)

3.For further queries, you will only call on ‘Auction Room Phone Numbers’.

4.To log out of the site click on Sign Out option.

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HOW TO SUBMIT YOUR PRICE BREAK UP AFTER AUCTION:

• After the competition of the auction incase you are L1 / have matched the L1price or
as applicable and stated the RFQ /Auction notice, you have to submit the item wise
price break up in the format as stated in the Auction notice (Annexure-4)or RFQ.

• The price break up has to on the price basis quoted during the online event as the
case may be ( eg. LCNC, LCNV, etc)

• For any clarification related to taxes applicable, clarify prior to start of auction.

• All the price break up have to be sent to company letterhead signed & stamped by
authorized signatory of your company.

• You may send the price break by Scanned copy through mail at the following email
address: [email protected]
• You may also send the same vide fax to our number 033-66011725.

• Price break up has to submit within 2 hrs from the time of completion of the event.
• Failure to submit the price break up may attract penal measures as deemed suitable
by the client.

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How to register your query/suggestion/feedback/complain in
the cchp:

1)Bidders can register their query/suggestion/feedback/complain through "Feedback" link provided on the Menu bar or send
email at [email protected]
2)Steps: Click on Feedback option->Click on New->Write your comments in the Description box & Submit.

1)Feedback Link