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Lifeworld International How It Works—
Lifeworld International conducts Reverse Online Auctions as a broker to registered members in five dynamic marketplaces: Life Sciences, Chemistry, Health Equipment,
Pharmaceutics, and Computer Technology. Your firm can start saving with
Lifeworld International in just seven steps:
(1) A pre-qualified national and/or foreign entity as potential Buyer ("Buyer") submits to Lifeworld International a Request for a Reverse Online Auction ("Requests and Bids"). This can be a government agency, NGO, private institution, or private sector company.
(2) Lifeworld International reviews the Request and configures the information according to each marketplace or sector involved. A potential Buyer (“Buyer”) can submit Requests in all five market places.
(3) Lifeworld International forwards the Request to the pool of registered members, acting as potential sellers ("Sellers"). The participating Sellers are selected from the same marketplace or sector as identified in the Request. Publishing the Request to the Sellers thereby opens the sealed bidding process. All Sellers’ bids must be submitted to Lifeworld International via the secured online page Requests and Bids.
(4) Lifeworld International assigns an alias to each received bid and forwards it to the Buyer. The Buyer has the right to set a limit to the number of received bids. Once received, the Buyer ranks the bids and notifies Lifeworld International of its preliminary selection.
(5) At that time, Lifeworld International establishes an escrow account for the transaction and the Buyer submits the necessary funds, sales price, letter of credit or any other acceptable security. The funds will remain in escrow until a contract of sale has been fully negotiated and executed or until negotiations have terminated.
(6) Upon funds are received, Lifeworld International reveals the identities of the top-ranked Sellers and the Buyer to each other. Lifeworld International assists in bringing the parties together to begin contract negotiations.
(7) Lifeworld International disburses any moneys held in escrow as soon as the resulting contract of sale is fully executed or as negotiated by the parties. At that time, the parties to the sale or transaction pay Lifeworld International its brokerage fee. Lifeworld International does not become a party to any negotiations and/or execution of the contract.
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