Frequently Asked Questions (FAQs)
Why is it not possible for me to bid for all materials?
There may be two reasons preventing you to place a bid for a certain deal: - You have already placed three bids for the deal in question - You are yourself the vendor of the deal in question
How is my position in the ranking list calculated?
The bids in €/t are ranked in descending order.
How is my position in the ranking list calculated for bids for partial quantities?
The bids in €/t are ranked in descending order (the same as for deals without the option of partial quantity bids). But it must be noted that with this type of auction, the ranking position is non-conclusive, and the highest bid does not necessarily guarantee an award as successful bidder because different buyers are bidding for different partial quantities.
Who determines the minimum bid amount?
Determination of the minimum bid amount is up to the vendor.
How can I get in touch with buyers/sellers?
When you are taking part in an ongoing auction, the contact with the buyer/seller can be established at any time. The contact details of the vendor may be found in the bidding details under Purchases > Bids . The contact details of the buyer can be found in the bidding details under Sales > Bidding results after closing of the auction.
Why was my bid unsuccessful although it was ranked as the highest bid?
There may be two reasons for your bid being unsuccessful despite it being ranked as the highest bid: - The seller has chosen a different buyer - The seller has cancelled the auction
How does automatic awarding / automatic allocation take place?
The highest bidder is the successful bidder, provided all certificates and required documents are available upon verification by the seller, and the seller has confirmed the award to that buyer.
How does manual awarding / manual allocation take place?
Upon expiry of the auction, the seller will decide on the award at his own discretion.
What is the user fee?
Vendor/Seller undertakes to pay Secontrade a non-redeemable User fee for the registration, composed of the value of the accepted bid. The calculation basis shall thus be 0.7% of the value of the individual bid that was accepted via the Platform, either by way of an automated award or in the manual process.