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Is Bid encryption happening at client end in SAP SRM system while submitting a bid?

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When we are submitting a bid as a bidder, is bid encryption happening at client side? and if yes, then if symmetric keys which are used to encrypt bid are being generated at client side and or at server side?.

If symmetric key is being generated at client side then how is it transferred to server and if key is generated at server side then how is it transferred to client side for bid encryption?

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