How does bidding work?

How does bidding work?

Buyers can browse active listings on the Marketplace and submit a bid specifying desired price and quantity.
Buyers can also indicate willingness to receive a partial order in the event of rapidly diminishing inventory in an active trading scenario. Buyers can also cancel unaccepted bids within a 24 hour window.

Sellers view bids receive on their own listings and can Accept, Reject or Counter. Bids above the preset minimum net price are auto-accepted. Bids and counter-offers expire within 24 hours in a case of no response. 
Bid that are accepted, result in confirmed transactions. Sellers and buyer have a 24-hour affirmation window during which they can cancel the trade with no penalty. If neither party takes action within this window, the trade is confirmed.
Once the trade is confirmed, contracts are generated for buyer and seller signature.

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