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Auction Rules & Process
  • Our Auctions are virtual

  • The detail of each lot to be auctioned is available to each registered member prior to and during the auction proceedings. 

  • Each lot is verified by Exchange Trust prior to the Auction date to ensure full regulatory compliance in terms of the country of origin for cleared export capability to a buyer destination as well as international treaties such as OECD and WTO. Only pre-vetted lots will be available on auction date.  

  • Each lot will show three price points and a bidder may select any one of the three price points

  • Each bid session will last 60 Seconds, during which a bidder may select a bid price

  • Once the bid price is selected by any bidder, the bid timer is refreshed and updated and a new round of 60 seconds commences

  • Once the reserve price is met or exceeded and/or the bidding rate has slowed to beyond the 60 second mark the lot is deemed either sold or not sold. 

  • Buyers will place their bid amount in the Exchange Trust Escrow Account prior to the auction, unused funds will be returned at the discretion of the Buyer within 24 hours after the auction. 

  • Sellers will follow procedures for the specific country of origin and for the specific commodity in terms of their auction agreement with Exchange Trust which is managed by the country manager of Exchange Trust. 

  • Buyers will provide through the Online Escrow Platform instructions for delivery.

  • Exchange Trust uses high security and reputable companies for the completion of each transaction 

  • Please Note each transaction is subject to the Code-of-Conduct and General Terms and Conditions of Exchange Trust as well as the specific Auction Rules for either Buyer or Seller as provided after registration. 

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