14Clock round bids

14 Clock round bids

(1) A bidder is entitled to bid in a clock round if the bidder has eligibility points remaining for the clock round.

(2) A bidder may not make more than one bid for the lots of each product in each clock round.

(3) Except where subsection 50(1) or 50(2) applies, a bidder’s bid is taken to have been made in a clock round when the bid has passed data validation checks that are performed by the auction system.

Note: Subsection 50(1) allows the auction manager to permit a bid to be made other than by using the auction system, in certain circumstances.  Subsection 50(2) allows the auction manager to permit a bid to be made after a clock round has ended, in certain circumstances.

(4) A bidder may change, delete or replace a bid in the auction system during a clock round as often as desired, subject to the data validation checks that are performed by the auction system. The bid for the lots of a product that will be treated as binding for a bidder is the bid in the auction system at the end time of the clock round.

Note: A bidder is also taken to make a bid in the circumstances specified in section 50.