What is Counter Bid Process

The counter bid process is a negotiation methodology helping both suppliers and buyers in negotiating online in a stipulated timeframe. 

In a counter bid process, the buyer puts up a request for a required good or service. Sellers then place a bid for the amount they are willing to be paid for the good or service, and during the counter bid process, the buyer will share their counter offer request to Suppliers one to one at the end of the process the seller with the lowest amount wins.

In Counter bid process buyers can request the Supplier with their expectations for each product which is visible below the Rev. Unit price column (Target Price: XX).  

User can then submit their Rev. Unit Price as per their feasibility and click on the Submit button to share their revised prices to the buyer, there is no limit on the number of bids to be submitted by the Supplier during the process.  

Buyers can review the revised prices quoted and they can offer another counteroffer to the user to bid, this process will continue till the negotiation time is closed. 

At any given point of time, users can click on Final Price to submit their final price. The same would be communicated to buyers.