Knowledge Base

What happens after a bid is placed?

Category: Buy a Claim

Upon submission, the Creditor is notified of your bid to purchase the Claim with an opportunity to accept, counter, or reject the bid.

  • Acceptance by the Creditor triggers a Trade Confirmation and also triggers rejections of any other bids on the Claim by other Members.
  • Countering triggers a notification asking for a higher price.
  • Rejecting triggers a notification informing the Buyer that the Creditor was not interested.