Bidding at auction

To bid at an auction you must have been approved at both the auction qualification and auction registration stages. If you have successfully registered to participate in an auction you will be provided with a unique account and information on how to submit your bid using the online auction bidding platform—BidCarbon Auction. This information will include a pre-filled auction bid form.

A bid can only be submitted by the auction bidder identified at auction qualification. If you want to change who is able to bid at auction use the Auctions Authorised Bidder form.

If a bid is successful, the participant will automatically enter into a carbon removal contract with the BidCarbon Climate Trading Company, covering the project(s) related to the bid.

Only one bid can be placed within the auction window, and any errors cannot be corrected once the bid has been submitted. Nevertheless, bidders can withdraw their bids before the auction closes by utilising the bid withdrawal form; they will not however be able to submit a new bid. The bid withdrawal form is readily available within BidCarbon Auction throughout the auction.

When you bid at an auction, you establish the financial terms of your contract. Bidding implies that you acknowledge and accept these financial terms if you are triumphant at the auction, which incorporate:

● price to be paid per BRUs

● date of the auction participation, provided in the pre-filled auction bid form

● date of contract (falling due just after the auction and provided in the pre-filled auction bid form).

Financial terms

Determining successful bids

The BidCarbon Climate Trading Company selects projects to contract with solely on the basis of the price bid at the auction. Successful participants are those with the most competitive prices. Further details regarding the selection process are available in the auction guidelines.

An independent probity adviser is engaged to evaluate and report on the fairness of The BidCarbon Auction Company auctions. The consultant evaluates business procedures, the segregation of duties and obligations, and the privacy of data, including auction offers and reduction levels.