Overview
In ascending clock auctions, any shipper that has an assignment to your LSO company can place one or more bids for the available slots, or MSPs, in any given round. These bids are independently processed by the platform at each round according to the rules described in this article: Ascending Clock Algorithm in LNG Auctions.
Bid Assessment Rules
In general, all bids placed during an auction are equally taken into account in conformity to the principles of the ascending clock algorithm. As such, these are the general rules of bid assessment:
1. All bids placed during an auction are independently processed, even if those bids are created by users from the same company. Which is to say, every bid is handled as a distinct unit, whether the users who placed them belong to the same company or not;
2. Each bid has an individual timestamp, which will come into play if leftover capacity allocation is activated. Please, check this article for more information: How Leftover Allocation Works in Ascending Clock Auctions?
3. If a company places multiple bids, they are liable to pay for the combined demand of those individual bids depending on the number of bids that turn out to be successful at the end of the auction. To learn more about how the successful bids are picked, please check this article: Ascending Clock Algorithm in LNG Auctions.