| What
is TEAM? |
| TEAM
stands for The Electronic Auction Market
that consists of the Ontario Livestock
Exchange and the Calgary Stockyards. TEAM
is an Internet based auction price
discovery system used for the sale of
cattle and other commodities. TEAM gives
sellers exposure to a large geographical
market compared to your traditional local
auction market. These markets deliver an
auction market service with buyers
through out Canada and also the United
States. Commodities are sold by either an
interactive sale or bid offer sale. |
| |
| What
is a Bid Offer Sale? |
| A
bid offer sale is similar to traditional
contract bidding; bids posted by the
buyer cannot be seen by any other buyer.
Bids can be placed on lots over a
specific time during the period between
the opening date and closing date for the
lot. A lot description is provided for
each lot. When a buyer places a bid, the
buyer will be asked for both a price and
conditions. After the closing date, all
bids are reviewed and a winner is chosen.
The winner will be notified by email.
Those who bid and were not selected will
also be notified by email with the price
of the winning bid. |
| |
| What
is an Interactive Sale? |
| An
interactive sale is similar to a
traditional live sale except that it
takes place over the Internet. Bids are
made in real time and a winner is decided
as soon as the bidding is complete. This
type of sale will be very familiar to
buyers who have used the non-Internet
based TEAM in the past. The auction
window is part of the web page. The
auction window interface for entering
auctions and placing bids is very similar
to the terminal window in the non-Internet
based TEAM except that lot listings are
now provided as web pages. |
| |
| How
do I place a bid on a lot in a Bid Offer
Sale? |
| Once
logged into the sales arena, select the
bid offer sale from the sales menu. This
will provide you with listing of lots
currently offered. You can only place a
bid on a lot that has the status of open.
Select the lot by clicking on the lot
number. This will provide you with a
description of the lot. At the bottom of
this page, there is a place bid button.
To place a bid, click the button and
follow the instructions. You must be a
buyer in order to place a bid. |
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