Overview
Auction System offers the customers to id for plots investment, taking bids, and then leasing the plot to the highest bidder. Auctions submitted by individuals, Companies (Contractors or Consultants) and governments through online portal or mobile application. During Auction, all subscribed users are able to increase the lease amount of the plot and the system will select the highest amount after closing the session of auction.
Auction System is designed to initiate an investment process for the winner to complete the process of leasing plot.
Features
Setting up a particular Auction
- Describe the plot details (City, Area, Suburb, and Government Number), Plot location, and plot type (Industrial, Commercial ... etc.).
- Setting the rules for the auction (Start date, Announce Date, End Date ... etc.).
- Setting up the bidders, show the auction based on the user's type (individuals, Companies, Government).
Transparency:
- Auction allow to bidders to show bidding history as follows:
- Bidder Nickname.
- Bidding Amount.
- Bidding date.
Auto Bidding:
- Allow Users to Activate Auto bidding, this means the bidding amount will be increased automatically and recorded to the bidder who activate auto bidding and insert the highest expected amount of bid.
Bidding Initiation & Auctioneer Selection
- Registered Auctioneer should submit request for their interest to bid on a specific auction.
- Submitted request should include the applicant proposal as an attachment.
- Confirmed requester needs to deposit a guarantee cheque.
- Starting Workflow Process to approve the subscription process.
Biding Mobile App
- Selected Registered auctioneers will be notified in the mobile app upon the auction start date.
- Auctioneers can bid using the mobile app.
- Auction to be closed automatically based on the closing configuration date & Time.
Post auction closing
- Winner to be notified by both email and SMS.
- Auction result to be published.