Unless you object, we have decided to structure the auction site with the  "auction procedures" set out on the bid page, immediately above the "submit"  button.
As soon as the bid is submitted, the system will check to see if the  counterparty has already accepted the GTC's or has a master in place.
Here  is S&C's first draft of the procedures for an auction without a reserve  price, with no commitment to sell (or buy) and no disclosure of bids to other  parties.
It is my impression that this is the way the EnBank auctions will  be conducted.
Is that correct?
Any suggestions/comments?
Mark

Auction Procedures