Release notes

Incoterms

To support consistent logistics terms and streamline sourcing workflows, buyers can now define default Incoterms for each supplier. These defaults are automatically displayed when suppliers respond to events and can be applied at either the event or line-item level, depending on your configuration.

Suppliers can override the default Incoterm per event, offering flexibility while preserving visibility. Buyers will see any overrides clearly flagged in the quote comparison view, improving transparency and reducing the need for manual follow-up.

This feature is controlled by a configuration setting. To adjust your settings, contact your Fairmarkit Customer Success Manager.

Calculated auction times

When setting up a Dutch or Japanese auction, end times are now automatically calculated based on your pricing, increment, and interval settings. This eliminates the need for manual entry and makes it easier to review your auction timing

More precise event times

When scheduling your request for quote or auction events, you can now enter specific times (e.g., 3:20) in addition to selecting the predefined 30-minute time options for start, end, and close times. This gives you more flexibility for precise scheduling.

New service line UOMs

Added the following new unit of measures for service line items.

Incoterms

When you're responding to an event, the buyer may have Incoterms already defined to help guide logistics expectations. You can keep the default value or select a different one from the list, depending on what works best for your response.

Reassign supplier contact by name or email

When reassigning a supplier contact on an event, you can now see the supplier's name and email address when selecting. Previously, you could only see their name.

Added delivery day to group & service lines

Added Delivery Days as an optional field for group, service, and group service line items. You will see this on the Details page when reviewing supplier responses.

New UOM - Metric Ton (services)

Added Metric Ton as an available unit of measure for service line items.

New supported languages: Polish and Russian

Fairmarkit now supports Polish and Russian language and localization (number and currency format).

Increased length of webhook URL

When configuring a webhook (Fairmarkit API settings), the URL for Webhook can now be up to 200 characters.

SSO via email links

When users access Fairmarkit events via email, if SSO login is enabled, they'll now be directed through SSO authorization (not to the login page) and then redirected to the link destination in the email.

New supported langauges: Polish and Russian

Fairmarkit now supports Polish and Russian language and localization (number and currency format).

2-envelope sealed bids

You can now choose between one- and two-envelope sealed bids for your RFQ events. With two-envelope bidding, assigned evaluators review supplier responses without seeing pricing. Only the responses they select will move forward for buyers to review pricing and award the event.

To enable 2-envelope sealed bids, contact your Fairmarkit Customer Success Manager.

Intake: Price books

When you request items, Intake now suggests matches from your company’s price books catalogs based on item description, manufacturer, or category. It uses semantic search, meaning it understands the meaning of your request, not just exact words, to find the right items. If all items are matched, the request can be automatically submitted for purchase, helping you move faster while staying aligned with company policies.

New Configurations

To adjust your configuration settings, contact your Fairmarkit Customer Success Manager.

• Archive in Status Filter: You can now filter by Archived status using the Status filter on the Events list. To improve performance, Archived is not selected by default. If you prefer to include Archived automatically, you can enable an optional configuration. The separate Archived filter was removed as part of this update.
• Dutch auction multiple winners: Select if multiple suppliers can win a Dutch auction. With this option enabled, you can select a winner from any supplier that accepts the final price.
  

Admins can now set OOO

As an Admin, you can now manage Out of Office (OOO) for users at your company. When a user is unavailable, you can assign another team member to oversee their events. Users can still set their own OOO, but this ensures coverage for those who can’t or may have forgotten.

New supported language: Estonian

Fairmarkit now supports Estonian language and localization (number and currency format).

See: Languages and localization

Improved RFQ List

On your Supplier Portal, you now have an updated RFQ list that gives you better control over managing and reviewing your responses to request for quote (RFQ) events.

Updates include:

• Dedicated lists for RFQ and Auction events.
• Customizable columns to display the information you need.
• Enhanced filtering by Customer, Status, and Urgency, plus an option to view only your events (ideal for Admins).
• Sorting options by Title, Close Date, Urgency, and Shipping Location.
• Quick search by event Title or ID.

New supported language: Estonian

Fairmarkit now supports Estonian language and localization (number and currency format).

See: Languages and localization

New supported langauges: Arabic and Bahasa Indonesia

Fairmarkit now supports Arabic and Bahasa Indonesia language and localization (number and currency format).

See: Languages and localization

New supported langauges: Arabic and Bahasa Indonesia

Fairmarkit now supports Arabic and Bahasa Indonesia language and localization (number and currency format).

See: Languages and localization

AI Bid Analysis Agent

The AI Bid Analysis Agent helps you make faster, data-driven decisions by analyzing supplier responses to your events. After generating an analysis, you can chat with the AI agent to ask questions and get more information.

Filter list of available supplier meta tags

When awarding an RFQ event, the list of awarded supplier meta tags can now be filtered, simplifying the selection process. Filters can be configured to handle scenarios where multiple event meta tags are defined for the same key. This update applies only to users utilizing supplier meta tags.

Search by supplier company name or email

When searching a list for a supplier, you can search by the supplier's company name or email.

Change to partially awarded event emails

Previously, suppliers received a "not won" email when an event was partially awarded. Now, suppliers will only receive this email if the event is fully awarded to another supplier, reducing confusion and conflicting notifications.

Change to partially awarded event emails

Previously, you would receive a "not won" email when an event was partially awarded. Now, you'll only receive this email if the event is fully awarded to another supplier.

New auction types: English, Japanese & Dutch

When creating an auction event, you can now choose from three auction types, giving you more flexibility to align your sourcing strategy with your needs:

English auctions - new settings

You now have access to additional settings for English (classic) auctions. These settings give you greater flexibility and control over your auctions. You can access the new settings from the Auction settings area when you create your event.

Events list improvements

The following improvements help you to quickly sort, filter, and find events on your Events list.

• Sort by Title: Added the ability to sort the Events list by the Title column.
• Manufacturer filter: Added the ability to filter the events list by Manufacturer.

Improved notification search and filtering

We've enhanced notification search and filtering to help you find important information faster.

• Unread filter: Filter notifications to show only unread items.
• Search event data: In addition to message text, you can now search notifications by event data.

New auction types - Dutch, English, and Japanese

Buyers can now create three types of auction events, each with a different way for you to participate. For each auction type, the event screen provides instructions on how to proceed.

Minimum English auction bid

Buyers can now set a Minimum bid increment, requiring new bids to meet a specified percentage or fixed amount below the current lead bid (e.g., 5% or $10). If your bid doesn’t meet this value, you’ll see an error message and need to update it before submitting it.

English auction extensions

Previously, if you bid on an auction in the final 10 minutes, the auction would extend for 10 minutes, continuing until no further bids were received. Buyers can now configure extensions, controlling when extensions are triggered, how much time is added, and the maximum number of extensions. You’ll receive real-time notifications for extensions so you can respond quickly and stay competitive.

Automatically convert Benchmark when Currency is updated

If you update the currency while working on a request for quote or auction event, any existing Benchmark values will now be automatically converted to the new event currency. You can review and edit the updated value as needed. This option saves time and ensures benchmark values are updated automatically when you change the event currency.

This option is available via a configuration setting. To adjust your settings, contact your Fairmarkit Customer Success Manager.

Fairmarkit API webhook additions

Added new request for proposal (RFP) webhook notifications for the following:

• Opened RFPs: With the RFP_OPENED webhooks, you can receive a notification when a request for proposal (RFP) event is opened.
• Closed RFPs: With the RFP_CLOSED webhooks, you can receive a notification when a request for proposal (RFP) event is opened.

All requests/Customer filter combination

When reviewing one of your events list (RFQ, RFP, RFI), you can now select the All requests option and then filter the list to a specific Customer. This change allows you to have more control over your lists.

Benchmark price from historical data

When you create a request for quote event, the Benchmark price can now be automatically generated based on your historical data. We'll suggest a benchmark price by matching line items using key identifiers (MFG part #, Internal part #, and Description) to previously awarded events and uploaded purchase order line items.

This option is available via a configuration setting. To adjust your configuration settings, contact your Fairmarkit Customer Success Manager.

Remove/restore suppliers option

Added a 'Remove all' button to the Suppliers invitation area. With this you can quickly remove all selected supplier invitations from an event.

If If you remove a supplier invitation by mistake, you can restore one or all (new 'Restore all' button) invitations in the Removed Supplier area.

Archived events filter

Added an Archived events filter to the Events list. This is available from the list of available filters. With this change, the Archived option will no longer be available in the Status filter.

Fairmarkit API - Requests

You can now create requests and pull data about a specific request through the Fairmarkit API.

What's new

Dynamic intake approvals

With intake approvals, your requests can now be automatically routed to an approval process based on rules defined for your company. If the request's location, budget, or currency or the submitting user's role matches a rule, Fairmarkit will send requests to approvers before submitting.

Multi-round event details download

When downloading the details of a multi-round event, the downloaded file will now include information for all event rounds.

View request

When viewing a request for quote (RFQ) event on the details page, you can now select to view the original purchase requisition (PR) (actions menu > View request) in your ERP/P2P purchasing application. This option provides quick access to your purchase requisition, allowing for a better workflow between your event and purchasing application.

New configurations: Set required fields on RFQ events

To adjust your configuration settings, contact your Fairmarkit Customer Success Manager.

• Additional required fields on RFQ: Set if the Category, Business Unit, or Requester fields are required when buyers create a request for quote (RFQ) event. By default, these fields are not required.
• Require RFQ attachments from suppliers: Set if suppliers are required to add an attachment when responding to an RFQ event. By default, suppliers are not required to add an attachment.
  

RFQ Details dashboard - Tag column

For the RFQ Details dashboard, added an RFQ Tag List column. This allows you to review the tags added to each event quickly.

What's new

Valid for - New selections

When responding to a request for quote event, you can now select 7 days or 45 days as available options in the Valid for field.

What's new

Award between rounds

When running a request for quote (RFQ) multi-round event, you can now select to award line items and send any remaining line items to a new round.

See: Multi-round events (RFQ & auction)

Delete draft rounds

For request for quote (RFQ) events, if you create a new round and change your mind, you can now delete draft rounds from your event.

See: Multi-round events (RFQ & auction)

Reverse auctions adoption dashboard

With the new Reverse auction adoption dashboard, you can now review and track your reverse auction activity.

See: Reverse auction adoption

What's new

Reverse auction lowest bid setting

In the reverse auction configurations, renamed the 'Show supplier rank' option to "Show if bid is lowest.' By default, this option will be selected. If not selected, suppliers will not be able to see if their response is the lowest.

New emails

Added three new emails, which can be configured for your company from Email settings.

Email settings: Additional configurable emails

Admins can now select to send alerts and add attachments for the New RFQ assigned (buyers) and Shipment tracking reminder notification (suppliers) emails.

What's new

New email: Response not awarded email

When a buyer awards a request for quote event, you can now receive an email update if your response is not awarded.