What is Buyer profile?
We provide 2 kind of Buyer profiles:
- “Unsecure” level: you can do a market research on NextPro marketplace without e-auction ticket creation and very limited right of RFQ cancellation. Once buyer reach this threshold, the system will block this right RFQ creation.
- “Secure” level: another three level of buyer profiles provided: Flyer/Crew/Captain, higher level higher number of e-auction event per year can be established/created in NextPro.
What is my Buyer Dashboard?
The Buyer Dashboard is your homepage for managing your profile and reviews on NextPro. On the dashboard, you will see the basic information presented on your profile, the status of your previously submitted references, newly added reviews, and stats on profile views and click-throughs from buyers.
Check your dashboard regularly to see updates to your profile and your visibility on NextPro
All RFQ list and E-auction ticket shall be presented with details status.
How can NextPro help me find a best-fit supplier?
NextPro uses an information in supplier profile who are matching with their core business focus and minimum order value target setting.
We refer suppliers that are either best-fit, secured, or currently enrolled in our sponsored or premium service-offerings.
What is our Supplier Integrity Check Program (SICP)?
After a supplier profile was upgraded and becomes a Bronze, Silver or Gold SICP member, NextPro Specialist collects business registration information to confirm their legal entity is registered and active. Registration is confirmed through a web site of Business Registration Department of each country of supplier and a supplemental legal certificate from the supplier.
Information we verify includes the following:
- Business entity name
- Status (active/inactive)
- Jurisdiction of formation
- ID number
- Date of business formation
Besides, depend on SICP profile to be bought by Supplier, there will be more checks to assure for supplier credit including: Bank Account, Sanction Check, Certificate Management, Due Diligence and Financial Risks.
How should NextPro SICP impact my business buying decisions?
When looking for a supplier, use our SICP information to supplement Buyer research and to see if a supplier on NextPro is registered, active, and trustworthy.
Please note, as a potential buyer, we advise you to use your judgment and research when making buying decisions. We do not endorse any supplier, including verified suppliers, on our platform.
What sources does NextPro use to find relevant business information?
Data is collected from different sources based on the location of each company in question.
Is SICP level the same as sponsorship level?
No. SICP level is independent of sponsorship package level. For example, ‘Sponsor’ sponsorship does not guarantee a Bronze, Silver, Gold SICP status.
How many kind of e-auction type that is provided by NextPro?
We introduce 6 auction types, including: English Reverse (Price), Sealed bid, Dynamic Reverse (Ranking), Traffic light, Japanese Reverse and Dutch Forward.
What is meaning behind of each kind of e-auction?
Type Traffic Light:
You will see a color status (green, yellow, red) after submitting own bid. Traffic light colors are based on previously defined price ranges which are unknown to the bidders (except starting price) and Bidder must underbid own last bid.
Type English Reverse (Price Auction):
Your bid and the current best bid will be displayed after you have submitted your initial bid in a package. The initial bid may match the starting price provided online or can be anything lower than that. You have to underbid the current best bid if you wish to submit more than 1 bid per package.
Type Dynamic Reverse (Ranking Auction):
Your bid and your current ranking will be displayed after you have submitted your initial bid in a package. The initial bid may match the starting price provided online or can be anything lower than that. You have to underbid your last bid if you wish to submit more than 1 bid per package.
Type Japanese Reverse:
The current price shown must be confirmed in order to qualify for the next price level. The Auction will end with the pre-defined end price or if only 1 bidder is left.
Type Dutch Forward:
The Auction will end with the confirmation of a price shown by the first person to confirm this price.
Type Sealed Bid:
Only the best bidders (number and position of bidders will be determined by the buyer after the 1st phase) per package/position will qualify for a Sealed Bid. The buyer is asking each bidder selected to participate in the Sealed Bid to place 1 (one) final bid during the Sealed Bid. All competitor information will be shut down and are only visible to Buyer. If no bid is submitted during the Sealed Bid, then the lowest bid from the 1st phase will be taken into consideration. In general, only the best bid of each bidder at the end of both phases will be taken into consideration.
What's threshold I should start to do an e-auction?
It’s depend on your decision, if you would like to get more competitive rate, new market, in high risk country… then you should start from 25,000 EUR.
I have limited e-auction experience, how should I start an action type for my different projects?
We provide an overview of e-auction results (average saving result and type of auction) which are the same your project’s category for your reference.
Can Buyer have a demo for an e-auction practice before live?
NextPro has developed a set of video tutorials on how to use the NextPro platform at www.auction.nextpro.io which requires you to have a NextPro account to log in and view in the “User Guide” tab.
If the supplier I propose to bid on NextPro disagrees with the terms and charges of NextPro service offered to them, what is the solution?
When the buyer needs to organize an auction with the proposed suppliers from the buyer, however, the supplier cannot reach the necessary agreements required by NextPro such as:
- Disagree or late payment for NextPro service charges
- Disagreeing to sign part or the whole of the contract
- Other reasons for not accepting to sign and participate in auction on NextPro platform
In the above cases, NextPro has the fully right to not invite the corresponding supplier to participate in the auction and will actively contact the buyer to provide necessary solutions:
- If more than 2 (two) suppliers agree to sign and pay the charge, the auction session will still take place normally.
- If only 1 (one) supplier agrees to sign and pay the charge, the auction will have to change the auction method or be canceled at the buyer’s decision. The cancellation of this auction occurs before the auction takes place so no penalties will be applied as in sentence 16 hereof.
Do I pay for e-auction service fee?
No cost occur, but Buyer should upgrade your profile from “Unsecure” level to higher level such as “Flyer/Crew/Captain”, from that you’re able to create e-auction from NextPro platform and different level different cost with certain right.
Can I introduce a new supplier (who is not registered on the NextPro platform) into my auction event?
In the event that a Buyer introduces a Supplier to a bid on the NextPro platform, NextPro will allow account registration for the Supplier for the purpose of the Buyer’s bidding organization. In order to create an account for the Supplier, the Supplier enters the NextPro platform at the website www.auction.nextpro.io, select “Become a Supplier” and fill in all required information together with the following documents must be attached:
- Supplier registration form from NextPro
- Valid business license
- Proof of bank account
- Tax form
After auction ends, how long do I have to make a decision to select a supplier?
Within 30 days after the end of the auction session, the buyer must confirm the winning supplier on NextPro platform. From the 31st to the 37th day, NextPro will send 03 (three) times a reminder letter for the announcement of awarding from the buyer, after the 37th day if NextPro has not yet received the letter of announcement of awarding, NextPro will understand that the buyer has canceled the auction result.
Do I have to pay any charge to cancel the auction results?
In case you want to cancel the auction for any reason, NextPro will stop providing services for your account and the buyer will pay a penalty equal to the previous deposit of the supplier paid to NextPro (called as a) before the auction, plus 1-month deposit interest rate (applied to enterprises) of Joint Stock Commercial Bank for Foreign Trade of Vietnam (VIETCOMBANK) in Ho Chi Minh from the time of issuance the deposit payment of the supplier until the time of cancellation of the buyer, this interest rate amount (called as b) is calculated on the basis of the mentioned deposit a. In case there are many participating suppliers, it will be calculated according to the highest deposit.
Do I receive a report on the result after the auction ends?
After the auction session ends, the buyer will receive a report of the auction session from NextPro.