Tue, Jul 21 12:22
Trust & Safety

Why every bidder is verified

A bid is only as good as the business behind it. WoodBid reviews documents before anyone is cleared to bid, so a winning bid is one that can actually settle.

Verification keeps the marketplace credible. Every account is a real, funded business — vetted before it competes for a lot.

Getting cleared

How verification works

1

Enrol on a lot

Open the enrolment flow from any tender and submit your company details. Each lot lists exactly which documents it requires before you start.

2

Upload your documents

Provide the documents the lot asks for — commonly a business license, tax or VAT registration, and proof of funds. High-value lots may also ask for a letter of credit or bank guarantee.

3

We review

Our team checks your documents and verifies certificate and registration numbers against issuing registries. Most submissions are reviewed within one business day.

4

Cleared to bid

You're notified the moment you're approved — or if something needs re-uploading. Once cleared, the lot's live room opens to you when the auction starts.

What you may be asked for

Documents we commonly request

The exact list is shown on each lot before you enrol — it varies with the lot's value and terms.

Business license Tax / VAT registration Proof of funds Letter of credit Bank guarantee

Start verification

Enrol on a lot to begin — most accounts clear review within one business day.