Knowledge Base
At what point are parties obligated to complete a trade?
Bids made by buyers are non-binding offers subject to diligence and definitive documentation. All bids on the Marketplace are on unless otherwise specified. After a claim holder accepts a bid on the Marketplace, 51³Ô¹Ï¹ÙÍø will reach out to the claim holder to confirm their willingness to proceed with the bid on the proposed terms. If the claim holder confirms their willingness to proceed, 51³Ô¹Ï¹ÙÍø will confirm the trade and at that point, the claim holder is obligated to act in good faith to satisfy the buyer's remaining diligence requests and to complete the transaction on the proposed terms.
