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New auction policy for seller[2010-02-26 16:08:01]

 After two years' efforts, 4.CN has developed into a website with many aspects recognized by our clients. We are always committed to seeking the best way on the domain auction auditing system. From now on, we are no longer auditing the domain quality and the qualification for auction. We will give this authority to the users and let the market decide if it is suitable to auction at 4.CN.

However, prior to auction, the domains still have to meet the following requirements, which will be the main job of 4.CN auditing team: 

1. The domain introduction is complete and meets our standard.

2. The domain auction applicant must be the owner.

3. The domains have stayed in the registrar for at least 2 months.

4. The domains have at least 2 months' shelf life, that is to say, the domains will not be expired in two months.

The reason why we audit the above requirements is to lower the chance of the happening of the transaction disputes. Once the domain meets the above requirements, the domain will be in the status of " Awaiting seller's confirmation". If the seller chooses "Deposit Aucion " type, then 200 RMB( per domain ) in the seller's 4.CN account will be frozen temporarily. If the seller chooses the either way-- Transfer Auction, then the seller has to contact 4.CN domain broker to complete the domain transfer. When the seller confirms the auction, the domains will be listed in the Showcase Auctions. If the domain can have one bid in excess of 200 RMB (included 200 RMB), the domain will enter the auction within 24 hours. At the mean time, the buyer will be regarded as the first bidder in the auction. Should the domain in the Showcase Auctions have no bid in a week, the domain will automatically exit from the auction and 200 RMB of the auction deposit will be released and 5 RMB exhibition fee is deducted. In addition, the domain is not allowed to resubmit for auction in 2 months.

Sellers have to note that:

1. Rationally appraise the value of your domains. We require that the domain should have the lowest bid of 200 RMB, so please don't take the chance to submit the domain with the market value below 200 RMB. We will sustain a rational and fair auction environment. Please don't waste 5 RMB for the exhibition.

2. When the domain falls into the Showcase Auctions,sellers can take the initiative in seeking the potential buyer to have the domain enter the official auction phase as soon as possible.

3. At the end of the auction, seller must transfer the domain in three business days after the buyer sends the payment either by pushing domains ( i.e.transferring the domain within the registrar )or providing the authorization code ( For domains registered in ename.cn , the transaction can be finalized by directly performing PUSH or we can help obtain the auth-code). If the seller is not able to transfer the domain within the regulated period for some special reasons, please timely contact 4.CN domain broker. Otherwise, it would be deemed as the breach of the agreement. Hence, it is better to get the auth-code ready beforehand.

Thanks for your support!

4.CN Team 
February 26, 2010

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