Abstract: A system and method to secure the best bid for a service requester and contract price for a service provider is provided in an Internet or Intranet based reverse auction. Service requesters, or customers, provide details of the work that needs to be completed and service providers give their best bid and the lowest price that they can do the work for as auction bids. The reverse auction is given a certain time period in which to run and bids can be updated in real time, or through prepared reserve bids, so that the Service Provider with the lowest bid secures the contact information of the Service Requestor in exchange the Service Requestor receives a competitive quote for the work. The auctions can be publically open to all qualified contractors or can be private, by invitation, to certain Service Providers.