ICANN and Power Auctions made some changes in the Last Resort Auction rules starting with auction scheduled for November all seeming to quicking up the auction process.
Here are the red line changes to the ICANN Last Resort Auction and here are some of the highlights:
- The first Round of an Auction will start on the Commencement Date and last 30 minutes, the recess after the first Round will last 20 minutes, and all subsequent Rounds and recesses will last 20 minutes each. The Auction Manager may open Round 1 for Early Bidding, a time period prior to the standard 30 minutes of bidding for Round 1 of a duration designated by the Auction Manager. A Bid submitted during Early Bidding has the same effect as a Bid submitted during the standard 30 minutes of Round 1. All Contention Sets within a single Auction event will follow the same Auction Schedule. The Auction Manager may modify the Round or Recess timescales on an ad hoc basis with the electronic written consent of all remaining participants in an Auction.
- The Auction Site will contain a schedule showing the indicative times for each Round and each Recess (the “Auction Schedule”). The Auction Schedule will be updated as necessary during the course of the Auction. When applicable, the Early Bidding Starting Time will be announced by the Auction Manager.
The Auction Manager intends to provide Early Bidding for most Auction events.
Early Bidding will provide an additional period of time prior to the standard bidding time allotted in Round 1 to accommodate Bidders in various time zones who may prefer to submit a Proxy Bid.
The Auction Manager generally intends to open Early Bidding approximately 8 hours prior to the start of Round 1.
Due to the rotating Auction start times (13:00, 16:00 or 20:00 UTC), opening for Early Bidding may take place on the day prior to the official Commencement Date of the Auction. ICANN or the Auction Manager will communicate the opening of Round 1 to Bidders, pursuant to clause 19.
It should be noted, the Auction Manager does not intend to provide live customer support throughout the Early Bidding period.
Live customer support will begin approximately 1 hour prior to the start of Round 1.””