Participating in a live bid on MSTC is a time-critical, rule-driven process. Success depends on pre-bid readiness, disciplined execution, and extension control—not last-minute aggression. Below is the Leegal-approved live bidding SOP.

Step 1: Ensure Pre-Bid Readiness (Non-Negotiable)

Before the auction start time, confirm:

• ✅ Account approved & active

• ✅ DSC mapped and working

• ✅ EMD status: “Received / Accepted”

• ✅ Auction catalogue analysed

• ✅ Maximum bid ceiling approved internally

Leegal Rule:

Never enter a live bid without a pre-defined exit price.

Step 2: Login Early (15–20 Minutes Before Start)

• Login to MSTC dashboard

• Go to Live Auctions

• Click “Participate / Enter Auction”

🔍 Early login avoids:

• Browser crashes

• DSC detection issues

• Last-minute technical panic

Step 3: Understand the Live Bid Interface

On the live screen, you’ll see:

• Current highest bid

• Minimum bid increment

• Countdown timer

• Bid history

• Auto-extension rules (time added if bid placed near closing)

📌 Read the extension logic carefully—most auctions extend by 2–5 minutes repeatedly.

Step 4: Place Your First Bid

• Enter your bid amount (must respect minimum increment)

• Click “Submit Bid”

• Approve using DSC

✔️ Once accepted, your bid appears in real time.

Step 5: Manage the Live Bidding Phase

This is where discipline matters.

Best Practices

• Bid only within your ceiling

• Avoid early aggressive bidding

• Observe competitor behaviour

• Place bids strategically near closing windows

🚫 Avoid:

• Emotional counter-bidding

• Chasing sunk costs

• Reacting blindly during auto-extensions

Step 6: Handle Auto-Extensions Smartly

• Each last-minute bid triggers time extension

• Extensions can repeat multiple times

Winning Psychology:

Patience beats panic. Most overpayments happen in extensions.

If price crosses your ceiling → exit immediately.

Step 7: Auction Closure & Result

• Auction closes when no bid is placed within extension window

• Highest compliant bidder becomes H1

• Result reflected on dashboard and via email

📌 Screenshot final result for internal records.

Step 8: Post-Bid Action

• If you win:

  Prepare balance payment immediately (don’t wait)

• If you lose:

  Track EMD refund timeline

Common Live Bid Mistakes

• Bidding without DSC check

• Misunderstanding increment rules

• Ignoring taxes & logistics in bid price

• Overbidding during extensions

• Network instability at last minute

Leegal’s Live Bidding Control Framework

We convert live bidding from stress to structure:

• Bid ceiling & margin modelling

• Extension-phase tactics

• Capital & EMD exposure control

• Post-bid compliance readiness