I accept the terms and conditions as per RFQ and also I acceot the rules of auction if I become declared as a winner by buyer , I will honour my bid and supply the material /service.
if I fail to supply material/services I ready to fortifed EMD/SD.

RULES OF DUTCH AUCTION:

•	Start Price: Buyer sets the lowest acceptable price.
•	One Chance: Supplier has only one chance to accept the price.
•	Auto Price Increase: If no one accepts, price increases at fixed intervals.
•	First Accept Wins: First to accept gets the business, subject to TSL approval.

RULES OF JAPANESE AUCTION:

•	The auction has multiple rounds with a decreasing asking price each time.
•	Suppliers must accept the asking price within the given time to move to the next round.
•	Suppliers who reject or don’t accept the price will be disqualified from further rounds.
•	The supplier who accepts the lowest price in all rounds is the presumptive winner, subject to TSL approval.
•	All accepted prices are valid and binding, subject to TSL approval..,,.,12123
