Reverse auctions on GSA schedule
- By William Matthews
- May 01, 2000
Reverse auctions have been added to the list of services that agencies can
acquire through the General Services Administration.
FreeMarkets Inc. has been added to the GSA schedule, meaning agencies
can hire the company to conduct online auctions for buying goods and services.
The auctions feature vendors of products and services bidding against one
another to win government contracts.
Compared with the traditional sealed-bid procedure in which companies
wanting to do business with the government submit a single secret bid, active
competition among companies during online auctions tends to drive prices