Transfer process

TSD · Sep 29, 2009

I was hoping that after an auction ends and a buyer has sent Bido payment, the seller transfers or pushes the domain to Bido who then simultaneously releases the funds to the seller and transfers or pushes the name to the buyer but it appears from another post on here that after Bido receives funds from the buyer, the seller transfer the name directly to the buyer after which Bido confirms and then releases the funds to the seller?

If this is indeed the case, what is there, other than contracts, to prevent the buyer from changing the WHOIS information as soon as the push or transfer from the seller is completed to something else before Bido has had a chance to verify the transfer, claiming to Bido they never got the domain causing Bido to give them their money back leaving the seller with no domain and no money?

MediaHound · Sep 29, 2009

The transfer process is covered in our FAQ:
http://www.bido.com/Info/FAQ

We are constantly building the platform and enhancing features of the transfer process but what you suggest is not problematic, lets not speculate on ways to commit fraud. If you need further support feel free to email me or send me a PM. jarred/bido
Regards

TSD · Sep 30, 2009

I read your FAQ before posting but it did not address my specific question. What do you mean it is not problematic - what prevents such an occurance from being problematic.

BTW, I do not mean to speculate on ways to commit fraud this has actually happened to me before thus my interest in what if anything your service does to prevent this. I think the only thing that can be done is if the domain was pushed to Bido instead of the buyer and then you released the funds to the seller and pushed the domain to the buyer - do you offer this as an option?