ZMAIL lets you request or send bids in an easy-to-use, inviting and fair process, without pre-registration. Create your own auction, with your rules.
With ZMAIL bidding you can buy or sell goods (services or products) that would traditionally require paying fees to intermediaries, oftentimes as a percentage of the price, without added costs. Bidders and sellers know that the bids will remain secret until the bid opens, and can be verified, without the need to trust a third-party or proxy service.
How does it work?
•Example 1: When you set up a bid (for example, to buy printing services for your new brochure), you request all bids to be sent by ZMAIL with a release time that you define. All bids will arrive by email, encrypted, with certified senders who you can reach to close the transaction. The bids cannot be opened until that release time, which is the time the bid opens.
•Example 2: The same example as above but now each bidder must also submit a proposal. Both the bid and the proposal must be kept secret until the bid closes. Firms interested in participating prepare a proposal that meets the technical requirements and, then, send both the bid and the proposal in a ZMAIL (ZMAIL encrypts attachments). On the day the bid closes, all ZMails with sealed bids are opened and the contract is awarded to the firm that has submitted the lowest bid for an acceptable proposal.
•Example 3: The same process works if you want to buy something in an auction that may accept bids from many sources (not only using ZMAIL). You can send your bid by ZMAIL, with the release time set to the last possible moment. This prevents others from recognizing that they have been outbid and raising the auction price. Typically this insures that you will win at a lower price. Trying to rely on trust or a third-party for this service (as in proxy bidding), may fail due to collusion and internal attacks. Trying to do this by sending the email yourself at that last moment, even if automatically done by your email software, may fail depending on your ISP, your connection speed, and your computer.
Additional benefits: Bidders may request ZMAIL certified delivery confirmation of when, where, how and by whom their bid was opened. This allows buyers and sellers to easily verify that all bids were taken into account in a fair manner. Closing the transaction, using ZMAIL with encryption for privacy and security, is facilitated because all senders can be reached back. Each ZMAIL sender must have a verified and operating mailbox when registering for ZMAIL. Anonymous bidding is possible by the use of pseudonyms, if acceptable by the seller.