Business terms and jargon explained. Your business dictionary

What is Auction

This is a process of buying where bids are submitted in an attempt to outbid competitors to win/ buy a product and service for the bid price. The highest bidder wins. Bidding normally take place in an auction room where bidder may bid by phone or in person.

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WOWGR Self-Billing Project support Office UN
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Term created / updated 2011-06-19 17:45:06

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