Definition
A reverse auction is a live online round in which sellers who qualified in the technical evaluation lower their prices against each other for a fixed time window. The lowest price at the close becomes L1. On GeM, the buyer chooses whether a bid will go to RA; the bid document says so, and RA has its own rules on start price and bid decrements.
In simple words
RA ek ulti nilaami hai — yahan daam badhte nahi, ghat-te hain; jo sabse kam pe ruke, wahi jeete.
Related terms
Guides on this topic
This is a general explanation. Confirm exact limits, percentages and timelines in the bid document and on gem.gov.in.
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