What is meant by Letter bids?
"Letter bids" are bids that are submitted in writing, typically in the form of a letter or e-mail, at an auction or sale.
Examples of software functions in the area of "postal bids":
- Entry and storage of bids
- Time stamp for bids
- Confidentiality and security
- Monitoring and validation of bids
- Communication with bidders
- Integration with other auction processes