Multiround RFQ contract explained


Last Update 10 months ago

A multi-party competitive negotiation process by which an agreement can be achieved between the proposer and a participant. In this negotiation process, the proposer can negotiate multiple rounds with participants in order to reach to an agreement. In this process, the proposer first collects offers from all participants, and then he can choose an offer and propose a counter offer to the participant while the other participant waits to get a response from the proposer. After getting a counter offer the participant can accept the offer, reject the offer or propose a counter offer to the participant. When the proposer reaches an agreement with a participant, other participants are automatically notified with a rejection response. If the proposer does not like any of the received offers, he can reject all offers which lead to the end of the negotiation without any agreement.

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