How do I set up a reverse auction?

To set up a reverse auction go to the Request Settings in your draft Request and select Enable Reverse Auction. Then enter the auction start date/time and the auction end date/time.

Please note, If an auction has not been enabled before a Request is sent out the auction cannot be enabled. You will need to copy the Request to create a draft and enable the auction feature on a new Request.

Set Auction Setting

Clients can also choose whether to allow law firms to see the competing bid prices, or just where each firm ‘ranks’ relative to other firms. You can choose your preference within the request settings by selecting either 1) Rank Only,  2) Rank and Lowest Bid Price, or 3) Rank and Price of Every Bid.

By selecting "Price ranking and each competitor firm's current bid," firms will be able to see the anonymous total prices of the competing firms at the total price and phase level and can revise each item during the auction.