E-Procurement, digital signature, Reverse auction Flashcards
Integrity of Document:
e-sign
The documents should be digitally signed by the person submitting them.
The web server to which the documents are submitted for hosting, should verify
the signature before hosting each.
Secure Hosting e-sign
“HTTPS‟ should be used for both uploading and downloading of documents to avoid alteration of documents over the network.
Digital Signing
The documents submitted for hosting may be in PDF or MS-WORD format.
The document is digitally signed at the document submission end by a digital
signing tool and by using a private key stored in a smart card
Process of submission e-sign
Know the process, don’t learn word for word
after digital signing
The detached
(PKCS#7) signature file is generated. The document and the signature are
uploaded to the server.
The web server can verify the
digital signatures programmatically when the files are uploaded.
The files and
their verified signatures are hosted for downloading by end users. This
procedure will ensure that the signer is confident of what he/she is signing.
The
person involved in web hosting is sure that the documents are properly signed.
The end users benefit that the document they are downloading is authentic and
that the integrity of the document is maintained.
Certificate for Digital Signature:
The signature should be generated using a certificate issued by a
Certification Authority (CA) trusted under Controller of Certifying
Authorities (CCA). This is mandatory for legal validity of the digital
signature
The end user should ensure that the certificate used for signing the
document is issued by a trusted CA.
E-procurement/Reverse Auction
The
departments/organisations may themselves decide on e-procurement /reverse auction
for purchases or sales and work out the detailed procedure in this regard
What is a Digital Signature Certificate?
digital equivalent (that is electronic format) of physical or paper certificates
Digital Signature Certificate (DSC) is not required by Companies but by individuals.
type of Digital Signature Certificate (DSC) for eSigning and Authentication on the eTendering Portal?
DSC of Class 3 category issued by a licensed Certifying Authority (CA) needs to be obtained for efiling on the eTendering Portal.
Class 3 DSC is the highest level where the person needs to present himself or herself in front of a Registration Authority (RA) and prove his/ her identity.
What is the validity period of a Digital Signature Certificate
The Certifying Authorities are authorized to issue a Digital Signature Certificate with a validity of one or two years.
The maximum period for which the DSC is issued is only two years.
On the expiry of the term, the Digital Signature Certificate can be re-validated by paying the fees again.
reverse auction
A reverse auction is a process in which sellers bid to sell their goods and services
Process in which sellers bid to sell their goods and services. The bidder at a reverse auction is the seller, which is exactly opposite to a traditional auction where the buyer is the bidder.
For example, a company might put up a request to procure raw material to manufacture something. The bidder that offers to supply the said material at the lowest price or best terms usually wins the reverse auction, although other factors might come into play. When conducted on the Internet, the process is called “e-bidding” or “e-procurement.”
Reverse auctions can be extremely effective if there is sufficient amount of competition.
BoQ or ‘BQ’
Bill of Quantities(BoQ) is a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized
to prepare a price for carrying out the works
benefit of BoQ or BQ
The bill of quantities assists tenderers in the calculation of construction costs for their tender, and, as it means all tendering contractors will be pricing the same quantities (rather than taking off quantities from the drawings and specifications themselves), it also provides a fair and accurate system for tendering.
The contractor tenders against the bill of quantities, stating their price for each item. This priced bill of quantities constitutes the tenderer’s offer. As the offer is built up of prescribed items, it is possible to compare both the overall price and individual items directly with other tenderers’ offers, allowing a detailed assessment of which aspects of a tender may offer good or poor value.
Reverse Auction – For Buyers: Advantage
provides procurement professionals with the most competitive prices for their preferred products, pitching the suppliers directly against one another to see who can offer the lowest prices.
streamlines the procurement process and saves time, as each supplier is not required to submit a full proposal.
Reverse Auction – Advantage
For Sellers
generally open, enabling smaller or less well known businesses to compete in the e-Auction process
