What is FedBid? It is a reverse auction site being used by the State and
Federal Governments to procure commercial items. IT IS FREE to contractors! http://www.fedbid.com/
FedBid is a multi-billion dollar online marketplace where government and
business buyers can access a managed, global network of qualified sellers at
the touch of a button. The FedBid buyer-powered marketplace utilizes a reverse
auction model that connects buyers with the most competitive sellers of
commodity goods and simple services. To date, thousands of public sector and
commercial Buyers have used FedBid to increase efficiency, drive competition,
and save hundreds of millions of dollars.
As the online marketplace where government buys
commodities, FedBid satisfies a growing niche within the public sector
procurement community, while complementing existing tools such as GSAAdvantage!,
GSA e-Buy, DOD EMALL, and GWAC vehicles such as GSA Schedules, NASA SEWP III
and NIH ECS III. The $100 billion niche consists of public sector purchases
that are over $3,000 in value, are available from multiple sources of supply,
and are for commercial items (commodities). FedBid's design specifically
addresses the public sector environment and interfaces with mandatory systems
such as www.FedBizOpps.gov and the System
for Award Management www.SAM.gov.
FedBid enables users to compete and document their purchases under any of the
following procurement scenarios:
·Competition among members of an
existing multiple-award contract supplier community (e.g., GSA Schedules,
Blanket Purchasing Agreements, government-wide acquisition contracts,
AbilityOne, etc.);
·Competition for set-aside
purchases among suppliers within a particular socio-economic classification
(e.g., Small Business, HUB Zone, Small Disadvantaged Business, 8(a) Business,
and Service Disabled Veteran-Owned Business); or
·Competition among interested
registered suppliers utilizing automated data feeds to FedBizOpps.gov for
synopses, as required.
FedBid is a privately held company that provides an online marketplace
where government buys commodities. FedBizOpps (FBO) is a government-run, online
bulletin board. However, FedBid does maintain automated feeds to FBO in order
to enable federal government Buyers to meet FAR requirements regarding
opportunity notification.
What is a Reverse
Auction?
A Reverse Auction is 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. On FedBid, Sellers do NOT
see competitors' names or prices but do see a Bid Status of either LEAD or LAG,
depending on their Bid Price.
