Decision (EU) 2016/245 of the European Central BankShow full title

Article 16 Electronic auctions

1. For open, restricted and negotiated procedures, the ECB may use an electronic auction, provided that the specifications can be established with precision.

The electronic auction shall be based either:

(a) solely on prices where the contract is awarded on the basis of price only; or

(b) on prices and/or on the new values of the features of the tenders indicated in the specification, where the contract is awarded on the basis of the best price-quality ratio.

2. If the ECB intends to carry out an electronic auction it shall state so in the contract notice. The procurement documents shall include, inter alia, the following details:

(a) the features and the values that shall be the subject of electronic auction, provided that such features are quantifiable and can be expressed in figures or percentages;

(b) any limits on the values which may be submitted resulting from the specifications;

(c) the information which will be made available to tenderers in the course of the electronic auction and, where appropriate, when it will be made available to them;

(d) any relevant information concerning the electronic auction process;

(e) the conditions under which the tenderers will be able to bid and, in particular, the minimum differences which will, where appropriate, be required when bidding; and

(f) any relevant information concerning the electronic equipment used and the arrangements and technical specifications for connection.

3. The electronic auction shall only be initiated after the submission and initial evaluation of the tenders. All eligible tenderers that meet the selection criteria and whose tenders are in conformity with the technical specifications and are not irregular, unacceptable or unsuitable shall be invited simultaneously to submit new prices and/or new values.

4. The invitation shall be accompanied by the outcome of a full evaluation of the relevant tender. It shall state the date and time of the start of the electronic auction and set out instructions for individual connection to the electronic equipment. The electronic auction shall not start sooner than 2 working days after the date on which invitations are sent out. The invitation shall also state the mathematical formula to be used in the electronic auction to determine automatic re-rankings on the basis of the new prices and/or new values submitted. Except where the most economically advantageous offer is identified on the basis of price alone, that formula shall incorporate the weighting of all of the criteria established to determine the most economically advantageous tender, as indicated in the contract notice or in the procurement documents. For that purpose, any ranges shall, however, be reduced beforehand to a specified value. Where variants are authorised, a separate formula shall be provided for each variant.

5. The electronic auction may take place in successive phases. Throughout each phase the ECB shall instantaneously communicate to all tenderers at least sufficient information to enable them to ascertain their relative rankings at any time. It may also communicate other information concerning other prices or values submitted, provided that that is stated in the procurement documents. It may also at any time announce the number of participants in that phase of the auction. The ECB shall, however, not disclose the identities of the tenderers during any phase of an electronic auction.

6. The ECB shall close an electronic auction at the expiry of the time limit indicated in the invitation to participate in the auction. The time limit may be expressed as a specific date and time or as a period that has to elapse after submission of the last offer with new prices or values. The ECB shall specify in the invitation the timetable for any auctions carried out in phases.

7. After closing an electronic auction, the ECB shall award the contract on the basis of the results of the electronic auction.