Overseas Expired Backorder/Auction

I. Overseas Expired Backorder

1. Deletion Type

Delete: A domain that has already been registered but the original domain owner did not renew it in time within the validity period, and has entered the deletion period and is about to be deleted.

Pre:namejet-Pre and snapnames-Preare domains that have already been registered but the original domain owner did not renew them in time within the validity period, and have entered the redemption period.

2. Backorder

It means submitting a pre-order before the domain is deleted; the system uses the registration API to register the domain first at the moment of deletion. The registration success rate is more than 100 times that of manual registration!

3. Pre-order Price

The pre-order prices of different backorder channels vary; the price displayed on the pre-order page shall prevail.For multi-channel pre-orders, settlement will ultimately be based on the price of the channel that successfully backorders the domain.The pre-order price includes the first-year registration fee for the domain; after a successful backorder, the domain will be automatically renewed for one year.

4. Deposit

When submitting a pre-order, a certain amount of deposit must be frozen; the price displayed on the pre-order page shall prevail.

For multi-channel pre-orders, only the deposit for the highest-priced channel among the selected channels will be frozen. After the backorder ends, the deposit will be unfrozen immediately (if the domain is won directly at the upstream provider, it will not be refunded).

Because upstream backorder providers do not allow default, the account balance must be no less than the full amount for the domain to submit a pre-order. At submission, only the pre-order deposit is deducted.

5. Cancel Pre-order

Pre-orders submitted through Overseas Expired Backorder cannot be cancelled; please proceed with caution!

6. Pre-order Time

Pre-order time: For .cc /.tv /.org /.info, the pre-order deadline is before 22:15 on the day before the displayed deletion time; for other suffixes, it is 22:15 on the day of the displayed deletion date (Hupo before 17:30). Pre-orders cannot be submitted after the deadline.

7. Backorder Success Rate

Generally, the higher the pre-order price of a channel, the greater the chance of a successful backorder; overseas platforms have a higher success rate than domestic platforms.

8. Channel Selection

To improve the backorder success rate, the system selects all pre-order channels by default; you can choose independently according to your situation.

9. Backorder Result

If the backorder is successful and only one user has pre-ordered, the domain belongs directly to that user; otherwise, an auction is required. If the backorder fails, the deposit is refunded.

10. Domain Auction

If multiple people apply to pre-order the same domain, the auction process will begin after a successful backorder. If the starting bid price is the same as the pre-order price, the system will automatically place one bid for the first customer who pre-ordered, and that customer will lead by default. All users who have already applied for a pre-order (regardless of channel) or have broken in can participate in the auction before the auction time ends.

11. Break-in Auction

It means that if you have not applied to pre-order a domain, after the auction starts you can pay a 50 yuan break-in fee to obtain bidding eligibility.The break-in fee will be refunded if you ultimately win the bid, but will not be refunded if you do not win.

12. Fund Settlement

USD fund settlement is based on the bank's foreign exchange purchase rate, updated once daily, and rounded to yuan at settlement; slight differences in price may exist on different dates.

II. Overseas Backorder Auction

Because overseas backorder domains all come from third parties, external bidding exists. If multiple people in our company have pre-ordered and the third party has only our company's pre-order for the domain, only internal bidding is conducted. Detailed rules are as follows:

1. Bidding requires the corresponding deposit to be frozen; when your bid is exceeded, the deposit is automatically unfrozen. All currency units below are: yuan

Example: the bid amount is 1.5 million; frozen deposit: 500,000*20% + 500,000*10% + 500,000*2% = 160,000
2. Bid Increment

The bid increments for external bidding and internal bidding are not exactly the same. The bid increment for external bidding is synchronized with the third-party platform, and the price displayed on the page shall prevail. The bid increment rules for internal bidding are as follows: 

3. Auction End Time
If there is a new bid within 5 minutes before the auction is about to end, the system will automatically extend it to 5 minutes (the delay time varies depending on the external platform) until there are no new bids. Special reminder: godaddy and pool have extremely short extensions in the later stage of bidding, and dynadot does not extend the bidding time. Please be sure to bid as early as possible! Due to fluctuations in the actual end time, bids placed in the last 3 minutes cannot be guaranteed to be valid; please be sure to bid before the last 3 minutes.
"Waiting to end" means the internal auction has ended; there may be new external bids, so please keep paying attention.
4. Proxy Bidding
Proxy bidding means that when your actual bid > the minimum bid required at the time, the excess portion will automatically be set as the proxy price. When another buyer bids, the system will bid upward on your behalf at the minimum increment until your proxy price is exceeded.
External bids are bids from users on the external platform. Sometimes they do not follow the bid increment or a bid of the same amount leads; this is caused by the existence of external proxy prices and is normal.

Due to limitations of the upstream platform, the current price displayed on the page is not necessarily the true current leading price. Therefore, when you bid, a bid failure may occur while the current price increases.At this time, you need to keep bidding until the bid succeeds or until it reaches your target price and you give up bidding.

Because overseas backorder/auction domain wins cannot be defaulted after winning, the account balance must be greater than the current bid for a bid to succeed. Therefore, please ensure sufficient account balance to avoid proxy bidding failure due to insufficient balance.

III. Transaction Confirmation

1. Buyer Confirmation

After the domain is won, the buyer is not allowed to default. The winning bidder must confirm the transaction and pay the remaining balance within 72 hours. If no action is taken within 72 hours and the account balance is sufficient, the system will automatically deduct the payment and confirm; if the account balance is insufficient, it will be deducted to a negative balance, and the account will be frozen until the remaining balance is paid.Deduction notice: Because overseas platforms require payments over $5000 to be made only by bank remittance, an additional remittance fee will be deducted, usually several hundred RMB.
2. Domain Delivery
Because the registry stipulates that newly registered domains cannot be transferred to another registrar within 60 days, you can only apply to transfer to our company for management after 60 days (other delivery methods are temporarily not supported). The transfer requires a one-year renewal, and the transfer fee is borne by the buyer. View transfer fee. If a domain cannot be delivered due to reasons on our side, 西部数码 will unfreeze all users' pre-order deposits and auction frozen funds, but will not assume other compensation. 
3. Domain Ownership Transfer

After the domain is transferred to our company and added to the winning bidder's account, the winning bidder can use the template ownership transfer function for free to change the domain owner to themselves, and the whois information will be updated automatically.

IV. Withdrawal Rules

If the final backorder fails, these fees will be returned to your member account. You can apply for withdrawal. For a single account with cumulative withdrawals over 1000 yuan, a 1% handling fee will be deducted; cumulative withdrawals within 1000 yuan are free of handling fees. Invoices are not provided for domain pre-orders and auctions.