💲 Bids from our suppliers are typically valid for 30 days from the date they are received. Sometimes we see longer. This duration serves two key purposes:
- Creating Urgency: A set expiration date encourages decision-making within a relevant timeframe, which is crucial for maintaining project schedules and ensuring that procurement aligns with the workflow.
- Price and Inventory Considerations: The construction and contracting markets can be volatile, with frequent changes in pricing and available stock. By setting a 30-day validity period, suppliers can offer a locked-in price and reserved inventory for that period, helping to insulate your project from these fluctuations.
Bid Expiry Notifications and Actions within Ply:
- Clear Expiry Dates: each RFQ bid within Ply is clearly marked with the supplier's bid expiry date, enabling you to make informed decisions before the offer lapses.
- Expired Bid Handling: Ply takes proactive steps to maintain the integrity of your procurement process. The expired bid will be locked to prevent purchase at outdated terms. Should you still be interested in the products post-expiration, we can facilitate a 're-run' of the quote upon request. This means we will reach out to the supplier to obtain an updated quote reflecting the current pricing and inventory status.
Ply is designed to keep you informed and in control of your procurement, providing reminders and taking necessary actions to ensure you have the most up-to-date information for your purchasing decisions. If a bid is nearing expiration and you need more time or additional information to make a decision, our team is ready to assist you.