BIDDING PROCESS
There are a total of 3 phrases in each bidding round; Advance Bidding, Open Bidding and Closed Bidding. However, we will only focus on the latter 2, as they are more important.
First, the quota for each module for each bidding round can be found before the round begins, i.e. quota for modules in Round 1A will be available in Round 0. A very important note, students pay the lowest successful bid and any unused bid points after each round will lie idle and simply be carried over to the next bidding round. This means that if you bid 50 point for Module X, but the lowest successful bid was 20, you will be refunded 30 bid points upon confirmation of a successful bid. However, if the supply exceeds demand for a module for any bidding round, the lowest successful bid will be taken as 1 bid point. Next, if there is a tie in the bid points, the outcome will be based on first-come-first-served.
Note for Advanced Bidding:
This facilitates students who wish to place a bid for a module or several modules ahead of the bidding period identified in the bidding schedule. In this way, students need not return to bid as each round begins. However, it will be assumed that students who stick to their advance bids will not be planning to adjust them. (Adjustment of bids is available during the time limit set for each bidding period.)
All students can participate in advanced bidding at round 0 for all modules that are offered for bidding for the semester. Students can also participate in advance bidding in other rounds when they are not eligible to participate in open and close bidding yet. Please note that there is also possibility that module is fully subscribed in the current bidding round and therefore only advance bidding is available for that module. For advance bidding, place any bid amount. As for all bid phases, the bid limit will only be subject to the amount of bid points at a student's disposal in the relevant account. After placing an advance bid, a student can still increase it subsequently or withdraw it for re-submission at a lower or higher bid. The advance bids will not be considered in the allocation of modules at the same round with the bid points placed by other students eligible for the open or close phases.
Once a student becomes eligible for the open bidding phase of the module, the system will transfer the student's advance bid to the open bidding queue.
Lastly, also note that advance bidding DOES NOT work on a first come first serve basis.
For a guide on how exactly to bid, please kindly refer to this HTML guide created by CORS. It is a step-by-step guide bringing students through the entire bidding process.
