When you no longer want to receive bids, and you haven't set a closing date for the reverse auction, you can close the reverse auction and inform the participants that the auction has closed.
To close a reverse auction, use the Close Reverse Auction for Offers batch job:
Open the Reverse Auction window:
In the Reverse Auction window, click Functions, Close Reverse Auction for Offers.
When you have closed the auction, you can notify all the vendors who have sent updates (the Status field on the subform is Updated) about the status of the reverse auction, that is, whether they have won or lost. Vendors, who have either declined or not responded at all to the reverse auction, will not be notified. Read Handling Responses to learn more about vendor responses.
Close for Offers (Batch Job)