Bidding Process

The GS Hubb platform uses a two-stage Project Work Order bidding process (Primary and Secondary Bidding) for the selection of suitable Project Expert candidates for each Project Work Order that is published on the GS Hubb platform.

The process starts with the Project Work Order being created by the Project Owner or Client. During the Project Work Order process, the Project Owner or Client stipulates the Project Work Order details, the required expertise, qualifications, years of experience, professional memberships and accreditation, applicable standards and software tool, etc.

During the Project Work Order creation, the Project Owner or Client also defines the Project Work Order duration (start and end dates), Project Work Order Budget value, number of milestones and partial payments for each milestone as well as the time durations for each milestone.

For the Project Owner or Client to successfully publish their Project Work Order on the GS Hubb platform, they must be registered on the GS Hubb platform and have sufficient funds to the value of the Project Work Order Budget value plus 10% GS Hubb platform bidding fee.

The 10% bidding fee is only payable to the GS Hubb platform after a successful bidder has been found on the platform or if the Project Owner or Client cancels the Project Work Order after the Primary Bidding closure date has lapsed.

If the Project Owner or Client cannot find any suitable Primary Bidding bidders on the GS Hubb platform for the Project Work Order, they will not be charged a 10% GS Hubb bidding fee, and they can either cancel the Project Work Order or increase the Project Work Order Budget value and edit the Project Work Order and republish it.

The Project Owner or Client can edit or cancel the Project Work Order at any time before the Project Work Order Primary bidding closure date and time and will not be charged a 10% GS Hubb bidding fee.

Primary Bidding

The primary bidding is the first stage bidding, which is the financial bidding stage of the two-stage bidding process. The primary bidding is when Smart Contract selected Project Experts are given the opportunity to submit their cost in USD that they require to complete the total Project Work Order requirements and deliverables.

All primary bidders can see the USD financial bids submission by other bidders from all over the world, submitted to complete the same Project Work Order. The primary bidders are allowed to change their bid values at any time before the bidding closure date and time.

This promotes competition amongst the bidding Project Experts and therefore ensures that the Client or Project Owner is getting the best talent and the best value for money.

The GS Hubb platform Smart Contract will then arrange all the bids in ascending order, with the highest bid value at the bottom of the list and the lowest bid value at the top of the list.

The Client or Project Owner will then choose an N-number of primary bidders to progress to the next bidding stage which is the secondary bidding stage. The number of secondary bidders (N) would have been stipulated by the Client or Project Owner during the Project Work Order creation stage (a default N=3 is automatically set by the GS Hubb platform; however, the Project Owner is free to change this number).

If at least one Primary Bidder is selected, then the Smart Contract will automatically execute the 10% GS Hubb platform bidding fee. The 10% GS Hubb platform bidding will be calculated as follows: the greater value of 10% of the average value of the N selected Primary Bid values or 10% of the of the Project Work Order Budget value.

Secondary Bidding

The secondary bidding stage is when each of the N-number of the selected primary bidders (now N-number of secondary bidders), are given the opportunity to present a 3-5 pages Project Synopsis in which they will articulate their project approach, solution proposal and step by step Project Delivery methodology and applicable technology.

The Client or Project Owner will then select the winning bidder out of the selected N-number of secondary bidders and the winner is awarded the contract to complete the Project Work Order.

The unsuccessful secondary bidders are given a payment for their effort and preparation of their secondary bids. This payment is 5% of the average bid values of all the N-number of secondary bid values. The (N-1) number of unsuccessful secondary bidders will then each have to pay a 5% GS Hubb platform bidding fee (5% of their payments). The Smart Contract will then execute the payments, and the Project Work Order bidding process is then concluded on the GS Hubb platform.

If a secondary bidder submits a sub-standard or unacceptable Project Synopsis, the Client or Project Owner can dispute the secondary bidder’s Project Synopsis using the GS Hubb Dispute Resolution Process, by creating an Arbitration Work Order (there is no need for a Peer Review Adjudication process). The disputed value of the Arbitration Work Order will be 5% of the average bid values of all the N-number of secondary bid values.

If no Peer Review Adjudication Work Order is created by the disputing party within 14 days of the Secondary bid submission, the Smart Contract will automatically execute payment to the Secondary Bidder, and the dispute is concluded on the GS Hubb Platform.