Electronic tender system
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United States of America Patent
Stats
-
Feb 20, 2007
Grant Date -
N/A
app pub date -
Dec 28, 1999
filing date -
Dec 28, 1998
priority date (Note) -
Expired
status (Latency Note)
Importance
Abstract
A coding function section in a bidder sub-system is supplied with a code parameter that corresponds to a bid to be offered, and the bid is coded using the code parameter. A tender opening system decodes received bids using a decode parameter corresponding to a highest or lowest bid amount in a predetermined bid range, and any bid that is successfully decoded using the decode parameter is accepted as the contract price. If no bid is decoded using the decode parameter of the highest/lowest amount of the range, the tender opening system attempts to decode all bids using the decode parameter of the next highest/lowest bid in the range. In this manner information regarding unaccepted bids is kept confidential by not publishing the decode parameters concerning the bids inferior to the winning bid.
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