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What are the Bidding Rules?
#1Time Left to Bid and Overtime Policy
Time Left to Bid
uBid displays a countdown to the auction close time. This countdown represents the time you have left to bid on that auction. If a bid is placed within 10 minutes of the auction close time, that auction will go into overtime.
Overtime Policy
·If there are any bids within 10 minutes of the auction close time, the auction will be extended until there are no bids for 10 continuous minutes.
·There is no limit to the number of times an auction can be extended. Therefore, uBid recommends that you check back often as an auction nears closing time.
·As long as there are quantities available in an auction, traditional bidding will continue. If all quantities in an auction are purchased using uBuy It, the auction closes.
·uBid makes every effort to ensure system availability. However, uBid reserves the right to close an auction prior to, or extend it beyond, the posted closing time. This may be done at our discretion and without warning.
·uBid is not responsible for incomplete, failed, garbled, scrambled, delayed or misdirected computer transmissions due to technical computer hardware or software failures or other errors or problems of any kind, whether mechanical, human, electronic or otherwise, which may limit a user's ability to bid in any auction.
#2Winning Bid
Winning Bids follow this order of precedence:
·Bid price
·Bid quantity (larger over smaller)
·Initial bid time (earlier over later)
·For Reserve Price auctions, you must place a bid that meets or exceeds the Reserve Price and qualify as a winner as defined in Points 1-3 above. For more information about Reserve Price auctions, click here.
·For uBuy It auctions, you become an instant winner if you choose the uBuy It option. uBuy It automatically outbids traditional winning bids.
This order of precedence results in following rules:
·If two or more bids are for the same price, the higher quantity will take precedence.
·If two or more bids are for the same bid price and bid quantity, the time the bidder placed their FIRST bid on that lot takes precedence.
·The same rules apply when several bidders are tied for an item and we must decide whom to bump from the winning bidder's list.
·uBuy It takes precedence over traditional winning bids.
Example - Auction without Reserve Price:
Let's say uBid auctions four Pet Rocks and there are two bids: one at $10 for three rocks and one at $10 for one rock. If a new bidder bids $12 for one rock, that bidder becomes the highest winning bidder, leaving three rocks to assign to lower priced bidders. The bidder at $10 for three rocks will remain a winning bidder because of greater quantity. The bidder at $10 for one rock will be bumped from the highest bidder list. If both bidders had bid for two rocks, then the bidder with the earliest initial bid will remain a winner.
No bid carries over to later auctions of like items.
#3Minimum Bid Price
The minimum price is the lowest value that can conceivably result in a winning bid (given adequate quantity and an early time of first bid). However, for Reserve Price auctions, the minimum bid price may not meet the Reserve Price; this will result in a successful bid that is not a winning bid. Click here for more information about Reserve Price.
Note: If another bidder bids moments before you, you may also be unsuccessful even at the default price. If your bid is not accepted, you simply click on the return link to edit your bid and try again.
#4Your Maximum Bid
When bidding, uBid encourages you to enter your maximum bid, the most you are willing to pay for the product. On most auctions you will have the option of selecting "Bid up to my Maximum Bid" as the bidding option. This will enable our bid butler tool and will save you time by not having to come back and bid on the auction again and again. By selecting "Bid this exact amount" you will be placing one, single bid for the amount you entered in "your maximum bid" field. If you enter a maximum bid price without a decimal, uBid will automatically attach 2 zeros. (Example: 1209 will automatically become 1209.00)
#5Bid Increment
All bids are made on a per-item basis. The lowest successful bid plus the bid increment will be displayed as the minimum bid. To create more excitement at the end of our auctions, uBid may decrease the incremental bid amount.
#6Selecting the Bidding Quantity
·You will need to specify the number of items you desire in an action lot when you place a bid.
·Note: If you are the lowest bidder among the winners at the close of an auction and your total quantity cannot be fulfilled, you will win a partial quantity.
#7Lowering Bid Price or Quantity
·You are not allowed to lower your price with a new bid.
·You are not allowed to lower your quantity with a new bid as long as you have a winning bid on the auction.
·If you want to decrease your quantity, you must wait until someone outbids your Bid Price, so that your bid is no longer on the Current Winning Bids list.
·You are not allowed to change your bid type if you have a winning bid on that auction.
#8uBuy It Auctions
Auctions that offer uBuy It allow you to buy the items without waiting for the auction to end. These items are sold at a fixed price. Once the entire quantity for a uBuy It auction is sold, the auction will close.
#9Reserve Price Auctions
·Reserve Price auctions have slightly different rules to qualify as a winner. For more information on Reserve Price, click here.
#10Bid Cancellation Policy
·All bids are non-cancelable once submitted.
·A record of your non-winning bids is kept. If a current winning bid is disqualified in an auction, uBid may restore your currently non-winning bid to winning status at your most recent bid price. This decision is made at the sole discretion of uBid.
#11Order Cancellation Policy
·All orders are final and non-cancelable. If you have a question about a delayed order please check out shipping and delivery schedule by clicking here.
Fraudulent Bidders
·It is the policy of uBid to monitor bids and other activity to ensure the proper use of our site. uBid reserves the right to reject any bid and/or order at its sole discretion and without limitation. Bids and/or orders can be rejected for any reason, especially those containing inaccurate, incomplete or unverifiable information, or information which is deemed to have been given in bad faith.
·uBid uses several monitoring and verification systems to screen for suspicious bids and orders. Such orders are subject to investigation and cancellation at uBid's discretion at any time. We apologize for any delay this may cause in processing of any legitimate order, but this process insures the protection of uBid's customers and itself.
·It is a violation of law to submit bids using a false name, credit card or any other fraudulent information, and such orders may not be processed, even if we initially accept such a bid. Submission of such orders can result in substantial legal and/or criminal risk to those individuals involved.
·Be aware that even if you give us a falsified name, your web browser transmits a unique Internet address to us, which can be used by law enforcement officials to identify you.
·It is uBid's policy to prosecute those individuals believed to be participating in fraudulent activity to the fullest extent of the law. Currently, the FBI, CIA, US Secret Service, and local law enforcement agencies are responsible for investigating Internet fraud cases.