Enabling Autoextend

You can use the Autoextend feature to have the application automatically extend the close time in the event the auction receives  a large number of bids during its final hours. Autoextend is only available for auctions.

This demo shows you how to enable the Autoextend feature for a negotiation.

Steps:

1. You specify Autoextend options when you are creating the negotiation document. The Autoextend options are located in the Schedule region.

   Step 1

2. Click the Allow autoextend option.

   Step 2

3. Automatic extensions are triggered when a bid is received that is better than the current  bid. However, the triggering bid does not have to be only the best bid. You can specify the lowest ranking bid which can  trigger an automatic extension. Receiving a winning response to a bid of this rank or higher can then trigger an automatic extension.

   Step 3

4. Enter the desired information into the Lowest Triggering Response Rank field. Enter

    a valid value
    e.g.
    "3"
   .
   Step 4

5. You can select which lines receive automatic extensions - only lines which have received a triggering bid or all lines in the negotiation.

   Step 5

6. Click the Lines that have triggered autoextend option.

   Step 6

7. You can specify a limit to the number of automatic extensions the application will generate. Once the last automatic extension has begun, the negotiation procedes to its  new close time.

    

   If you leave the Number of Extensions field blank, there is no limit to the number of automatic extensions the application will generate.

   Step 7

8. Enter the desired information into the Number of Extensions field. Enter

    a valid value
    e.g.
    "5"
   .
   Step 8

9. The triggering period is the duration of time before the current close time.

    

   For example, if you set the triggering period to 10 minuites, any new winning bid received during the final 10 minutes  of the negotiation can trigger an automatic extension.

   Step 9

10. Enter the desired information into the * Triggering Period in Minutes field. Enter

     a valid value
     e.g.
     "10"
    .
    Step 10

11. The Start Time of Extensions option specifies when the automatic extension begins.

     

    You can choose to begin the extension when the original close time is reached, or you can begin the extension as soon as a new winning bid is received.

     

    Step 11

12. Click the Receipt time of triggering response option.

    Step 12

13. The Length of Extension in Minutes field specifies the duration of the extension.

    Step 13

14. Enter the desired information into the * Length of Extension in Minutes field. Enter

     a valid value
     e.g.
     "10"
    .
    Step 14

This demo has shown how to enable the Autoextend feature for a negotiation.

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