Most sellers are elated at the prospect of dozens of buyers financially genuflecting on their doorstep.
Most buyers are either self medicating or seriously considering some derivative due to the stress involved with the inherent blind bidding process.
How much is enough? 5% over? 25% over? Even higher? This is but one of the many negative ramifications besieging buyers and brokers.
Attached below is an editorial detailing some of the pit falls endemic to a very dated procurement process. Surely there is room for some structural improvement.
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