Encryption – Decryption in bid
To make the Bidding process more confidential and secure, GeM has introduced Encryption-Decryption mechanism for bids.
Henceforth, the Seller’s quoted Price will be encrypted using the Public Key of the buyer and the buyer will use his/her Private Key to decrypt the bids.
Firstly, Buyer has to click on generate a KEY to generate his onetime Private Key, which will be displayed on the screen and also it will be e-mailed to the buyer. Public Key will be used for encrypting Sellers’s quoted Price.
After completing bidding information including Price and before submitting the bid, Sellers must verify the details and click on Encrypt Price button, the quoted price will be encrypted by the system using the Public Key generated by the buyer.
After Encryption, Quoted Price will be changed to 8 digit Encrypted random value.
For eg: KX7NPQ12
After opening the technical bid, the buyers (Bid Owners) will open the Financial Bid and enter their Private Key and click on Decrypt Price button.
The Quoted Price of all the bidders will be revealed.
**Spl Note for all Buyers:
Buyers Private KEY can be generated only one time.
Same KEY will be used to open every bid.
It is the responsibility of the buyer to keep the KEY safely & securely