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Procore

How can bidders get locked out of a sealed Bid Room in Portfolio Financials?

 Note
The information in this FAQ applies to accounts with the Portfolio Financials product in Procore. Reach out to your Procore point of contact for more information. 

Background

In a sealed bid in Portfolio Financials, a Bid Room Manager can unlock submitted bids when the bid due date and time has passed. As long as a bidder submitted an initial bid before the unlocking, they can continue to submit revisions in the case of clarifications or additional rounds of bidding.

Answer

After bids in a Bid Room have been unlocked, any bidders who did not yet submit a bid will be locked out and unable to submit one.

Tip! If you want to grant bidders extra time to submit their bids, you can either formally extend the bid due date from the Trade Setup page, or leave the Bid Room in its "locked" state instead of unlocking it.