Tender Process is one of the IPV4 SELLING METHOD
what is Tender process?
Tender process is one of the IPv4 selling process, the registered sellers can list their IPv4 addresses that they are willing to sell through the Tender selling method. Interested buyers can browse any of the Tenders in the Active Seller Listings based on their needs.
Seller & Buyer Prerequisite:
- Seller and Buyer should register in the IPv4 platform
- The seller need to Fill in the selling form, and choose Tender as a selling method
- When the form is approved by the IPv4 bank, a listing will be posted and activated in the IPv4 marketplace.
- Tenders are conducted through two rounds, the first round is a competitive public bidding and the second round is a competitive private bidding
- The buyer browses the Active Seller Listings and places a bid on the ones that interest him.
- The Buyer’s bid price should be equal to or greater than the opening price or the current price
- The buyer’s bid should be placed before the deadline ends.
- Each buyer is allowed to send only one bid in this round
- The buyer will receive a notification confirming his participation in the first round.
- When the timer ends, all the approved participating buyers will receive an invitation email “tender second round” to the allocated email address associated with their accounts. In this email, buyers will be informed about the highest received bid price and invited to send their final bid within 72 hours of receiving the “tender second round” email.
- All the participating buyers will receive a “Tender final result” email to inform them about the status of their bids after the second round.
- IPv4 Bank will send a “winning-bid guide” email to the winning buyer to congratulate him and explain in detail the next steps.
- The buyer should pay the required amount based on the IPv4 bank proforma invoice, the payment should be sent as a wire transfer to escrow.com within 5 working days of receiving the “winning-bid guide” email.
- Escrow will hold the payment till the transfer of IPv4 addresses is completed
- Buyer should send to IPv4 Bank all the required documents that are clearly mentioned in the “winning-bid guide” email within 5 working days of receiving this email.
- The seller will send a transfer request with all the required documents to the RIR where his company is registered.
- An inter-RIR is required if transferring between 2 different RIRs
- When both RIRs related to the seller’s and the buyer’s companies approve and executed the transfer, then the transfer will be considered complete
- Based on the seller and buyer’s confirmation of the transfer, escrow.com will release the payment.