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Domain auction security

Domain auction security

The auction system at Dropped.pl has been designed with maximum security in mind, for both buyers and sellers. Here we describe how transaction security applies to transaction participants:

Security for buyers

The auction system provides mechanisms which make it impossible for the seller to withdraw from domain transfer to the buyer. Buyer may be completely sure that after payment, they will receive the domain. This is ensured by the fact that, before the auction is listed, seller must make a transfer of the domain to the website owner.

Additional mechanisms, such as protection from auction or bids cancellation, ensures transparency of transactions conducted in auction system.

Security for sellers

Before placing an offer on the auction over certain limit, each buyer must pay a security deposit in advance to cover possible costs. This deposit is forfeited if the domain is not paid. Moreover, required deposit levels increase if the user has not paid for a domain on another auction before.

The security deposit mechanism helps to eliminate unscrupulous buyers, who bid without intention of paying for the domain. Therefore, the sellers may be sure that people bidding on auctions are serious about paying for them.

Security for both parties

Dropped.pl provides escrow agent functionality for all auction transactions. This ensures that the money is transferred to the seller right after successful transfer of the domain to the buyer.