COMET facilitates the one-to-many Request-For-Price (RFP) process. It respects time-honored bilateral methods—including the value of existing relationships, customized transactions, control over the exposure of a transaction, ability to negotiate, and confidentiality. Final execution of transactions occurs pursuant to underlying master agreements between parties.
Specific features include:
- Electronic and confidential posting of a requirement (buy, sell, RFP, etc.)
- Publishing of that requirement to any and all pre-screened members of the COMET community via a one-to-many RFP process.
- Negotiate the terms of a transaction through confidential one-to-one negotiations.
- Execute or withdraw any proposed transaction.
- Receive an automated transaction confirmation.
- Comprehensive transaction audit logs to help meet a variety of compliance and regulatory standards.
- Enforces best price methodologies