FedBid charges no subscription fees to Buyers or Sellers. Interested Sellers simply register, log in and submit bids for buys that correspond with their offerings. The system adds an equal percentage transaction fee to all Sellers’ bids prior to the submission to the Buyer. When the Buyer makes an award to a Seller, FedBid will collect the included fee from that Seller. FedBid’s model eliminates out-of-pocket fees for Sellers.
No. FedBid serves as a neutral facilitator, providing a dynamic platform for procurement professionals to purchase billions of dollars worth of goods and simple services from commercial Sellers. Throughout the marketplace process, Buyers maintain complete control over all purchasing decisions, while Sellers determine which buys and what bidding strategy best suits their businesses.
FedBid users incur NO upfront investment, license fees or maintenance costs. FedBid ensures ongoing cost-savings and a risk-free procurement process by requiring payment only after the Buyer selects a Seller for award and completes the transaction.
A reverse auction is a competitive process in which a Buyer solicits bids from Sellers during a period of time set by the Buyer. During the reverse auction, Sellers have the opportunity to submit a single bid or multiple bids that decrease in price.
No. FedBid is a privately held company that provides an online marketplace for government and business Buyers. FedBizOpps (FBO), at FedBizOpps.gov, is a government-run, online bulletin board. However, FedBid does maintain automated feeds to FBO in order to enable federal government Buyers to meet Federal Acquisition Regulations (FAR) requirements regarding opportunity notification.
If FedBid receives notice that, due to inclusion of the FedBid Fee, the Selected Bid’s line item pricing is higher than the pricing for the same item in the Selected Seller’s applicable (i.e., matching the Contract Type specified by the Buyer in the IFB) published government contract, the FedBid Fee will be adjusted to ensure the Selected Bid’s line item pricing does not exceed the Selected Seller’s applicable published government contract pricing. Such notice from the Selected Seller must include either an active link to the applicable published government contract and pricing (e.g. GSA Advantage, etc.) or a copy of the applicable portion of the contract and pricing and should be submitted to ClientServices@FedBid.com at or before expiration of the buy process as specified in the IFB and as determined by the Web Site system clock.
Have additional questions? Contact Client Services.