Auction format

The auction format used by the BidCarbon Acution Company is a reverse auction. A reverse auction is a type of tendering process used to obtain the best price by encouraging competition among bidders.

During a reverse auction, each participant submits a solitary and confidential bid during a stipulated time frame. The bids with the lowest prices are more likely to succeed. If your bid is the winner, you'll automatically enter an carbon removal contract with the BidCarbon Climate Trading Company.

An independent probity advisor oversees BidCarbon Acution Company auctions, to assess business processes, separation of roles and responsibilities, and confidentiality of information such as auction bids and abatement volumes.

Bids must be submitted through BidCarbon Auction—an online bidding platform approved by the BidCarbon Foundation.

Submitting an application form

The BidCarbon Auction Company hosts auctions in compliance with auction guidelines that are issued before each auction. The guidelines offer details on how the auction will be carried out, containing information on auction schedules, qualification criteria, bidding, suspension and termination, participant disqualification, and published data.

Auction guidelines