Frequently Asked Questions

WoodBid is a real-time marketplace for standing timber and log lots. Forest owners and mills publish tenders and live auctions; verified buyers compete on price within phases the organizer defines. Pricing is transparent, bidders are vetted, and settlement is tracked end-to-end.

No. Anyone can view the public marketplace, open a public auction’s spectator view, and read results. You only need a verified account to create a tender or place a bid.

Open the enrollment flow from any tender. You’ll submit your company details and the documents the lot requires — typically a business license, tax registration, and proof of funds. Most accounts clear review within one business day.

Creating an account and watching auctions is free. WoodBid charges a settlement fee on completed transactions only — there is no listing fee for sellers and no charge to place a bid.

A tender collects sealed offers over a submission window and is decided when it closes. A live auction runs in real time — bidders see the leading price and raise it in steps until the clock runs out. Both are created from the same Create flow; you choose the format when you set up the lot.

Organizers can split an auction into rounds. Each phase has its own duration, and only the top N bidders advance to the next round. The final phase determines the winner. Phases let large fields narrow down to serious bidders before the deciding round.

The floor is the seller’s reserve — bids below it don’t qualify. The ceiling is an optional cap. The step is the minimum increment between bids. All three are set by the organizer and shown on the lot before bidding opens.

Yes. Public auctions have a spectator view that shows live price, volume and the round timer without revealing bidder identities. Invite-only auctions are visible to enrolled participants only.

Once your documents are cleared for a lot, the live room shows a bid button at the current price plus one step. Each bid is binding for the duration of the auction. You can raise as often as you like while the phase clock is running.

You’re taken to the deal room and the post-auction steps begin — sign the contract, pay the prepayment, then arrange the remaining terms. Two of these are forfeit gates: miss the contract or prepayment deadline and the win passes to the runner-up.

The top-ranked bidders (the winner plus a set number of standbys) stay bound to the result after the auction closes. If a winner forfeits a gate, the next bidder in line is promoted automatically — so a deal almost always closes.

By default, yes — organizers choose whether bidder identities are visible in the live room. Your own bids are always visible to you, and the organizer can always see the full ranked field.

Use Create Tender / Auction. Name the lot, set volume and region, upload the documents bidders will see, schedule the phases, set your floor / ceiling / step prices, and choose the documents bidders must provide. A live summary tracks completeness as you go.

Yes — the floor price is your reserve. If bidding doesn’t reach it, you’re under no obligation to sell. You can also set an optional ceiling to cap the lot.

You choose: seller-arranged (you nominate the carrier the winner must use), buyer-arranged (the winner nominates and pays their own), or WoodBid’s vetted vendor list. Delivery basis — delivered, ex-works or FOB — is set on the lot.

The winner’s prepayment is collected in the deal room immediately after the auction; the balance follows your payment terms (bank wire, escrow, letter of credit or bank guarantee). WoodBid tracks each step and releases funds on confirmation.

Verification keeps the marketplace credible — every bidder is a real, funded business. Organizers set which documents a lot requires and the window to submit them. You’re only cleared to bid once they’re approved.

Commonly a business license, tax / VAT registration, and proof of funds or a bank reference. High-value lots may also ask for a letter of credit or bank guarantee. The exact list is shown on each lot before you enroll.

Most submissions are reviewed within one business day. You’ll get a notification the moment your documents are cleared — or if anything needs to be re-uploaded.

It’s the traceable record of a lot’s origin and handling. Lots marked chain-of-custody carry origin and certification data so buyers can verify the timber’s provenance and sustainability claims.

Bank wire transfer, WoodBid-held escrow, letter of credit, and bank guarantee. The organizer sets which methods a lot accepts and the prepayment percentage that binds the winner.

A percentage of the winning bid, collected immediately after the auction to secure the deal. It’s one of two forfeit gates — miss the prepayment deadline and the win passes to the next ranked bidder.

With WoodBid-held escrow, the buyer’s funds are held by WoodBid and released to the seller only when delivery milestones are confirmed — protecting both sides until the lot changes hands.

When every step in the deal room is confirmed — contract signed, prepayment received, transport arranged and balance settled. WoodBid records on-time settlement on both parties’ profiles.