MetaBid Formulas

MetaBid Formulas are mathematical constructs incorporating the bid amount entered by a supplier with basic mathematical operations and other custom fields. The result of the formula is an adjusted bid which appears to project owners, spectators, and, depending on the setup of your project, to other bidders. The adjusted bid establishes ranking amongst bidders and determines the "best bid". To avoid confusion and allow project sponsors to make adjustments without explaining confidential business logic to project bidders, bidders do not see adjustments to their own bids. Bidders always see their own bids exactly as they submitted them.

You can apply the same formula to multiple bidders and vary the adjustment by entering differing values into the custom fields that are part of the MetaBid Formula.