KYB & Verification
The reference workflow begins with business registration using GSTIN, PAN and address details. An administrator reviews the business before enabling account access.
PLATFORM GUIDE
How ForgeBid Works
Explore the three stages of industrial disposal and procurement: business verification, auction participation and settlement.
Bid on Active Lots
Buyers review upcoming and live inventory, then participate during the bidding window. The reference describes manual bids and automatic bidding within a chosen limit.
Contract & Settlement
After an award, the workflow moves to invoice and deposit records, payment completion and arrangements for collecting or dispatching the material.
Bidding Rules & EMD Policies
Earnest Money Deposit (EMD)
The reference describes deposits for selected lots, with amounts set by the administrator or linked to the base price. Its examples include a fixed ₹5,000 deposit.
Deposit refunds or adjustments depend on the auction outcome and the applicable lot terms.
Dynamic Bid Increments
Forward auctions use administrator-defined price steps. Examples on the reference include ₹100 or ₹200 per metric ton.
Automatic bidding is described as placing bids up to a buyer’s maximum limit.