Auction Clock   [TOP]
The auction clock shows to current time as well as time remaining until the auction closes. The auction clock has no co-relation to the actual time, and is the sole measurment of the closing time.

Bid Screen   [TOP]
The web page that contains all "details" specific to a certain water auction. This page provides complete lot description, high bidder and closing time information. Bids are submitted by the bidder from this page.

Bidding History   [TOP]
A summary of bidding information submitted by bidders for a particular water auction. Complete bidding history information is made available after the close of the auction.

Bid Increment   [TOP]
The minimum acceptable amount a bidder must enter to raise the current high bid as dictated by the online water auction is $1 AUD.

Bidholder   [TOP]
The Bidholder (also see current bidder, high bidder, winning bidder) is the person who holds the Current Bid at the current time. If the auction is closed, the Bidholder is known as the Winning Bidder.

Bid Tracker   [TOP]
The Bid Tracker allows users to conveniently keep track of bidding during a water auction. An email email is sent whenever a new bid is received during a water auction. The Bid Tracker function is specific to each individual lot.

Buyers and Sellers Cost   [TOP]
The Internet water auction program has been designed exclusively for AWBA agents. The costs for all auction services are negiotated directly with the AWBA agent Buyers and sellers are the clients of the AWBA agents.

Closing time   [TOP]
The closing time is the time nominated by the AWBA member that the auction should cease. The closing time is judged by the auction clock and has no co-relation to the actual time.

Current Bid   [TOP]
The Current Bid (also see high bid, winning bid) is the amount at which the current bidder holds the bid at the current time. If the auction is closed, the Current Bid is known as the Winning Bid.

Fraud Prevention   [TOP]
The Waterexchange requires buyers to be qualified and approved by an AWBA member before bidding on a parcel of water. It is a violation of the law to make a bid under a false name. Any bogus bids, collusion, or sham practices are unethical and illegal. Any occurrence will be reported to the appropriate authorities and processed to the fullest extent of the law.

Integrity of Auction   [TOP]
In order to preserve the integrity and the quality of the water auctions, only registered water brokers and agents who are members of the Australian Water Brokers Association (also referred to as AWBA) may auction water.

Passed In   [TOP]
At the expiration of the alloted auction time, and if the reserve price has not been met, the water lot lot will be deemed to be passed in. The status will change from "RESERVE NOT MET" to "PASSED IN".

Prerequisites to Bidding   [TOP]
All bidders must be registered, qualified, and approved by an AWBA member to bid on any lot. All bidders must complete a Water Auction registration contract. Registration is only required once.

Privacy   [TOP]
Your registration information is private between you and your AWBA member. The Waterexchange does not sell, rent or exchange personal information to anyone. Please follow the this link to our privacy policy.

Reserve Price   [TOP]
An Auction may have a "Reserve Price." It is a secret minimum price the Seller is obligated to accept. Until the reserve price is reached the words " RESERVE NOT REACHED" are prominately displayed in blue text. Once the reserve price nominated by the Seller has been exceeded the words "ON THE MARKET" are prominately displayed in green text. Sellers use the "Reserve Price" to protect themselves from the risk of a final bid that is too low.

Userid   [TOP]
A Userid uniquely and anonymously identifies one bidder from another. A Userid is your bidding "handle" or identity. A Username and Password provide users with log-in access any web ready computer.

Winning Bidder   [TOP]
The Winning Bidder is the Bidholder who holds the Current Bid after the close of the auction. The status will chance from "ON THE MARKET" to "SOLD"

Disclaimer   [TOP]
The Waterexchange Pty Ltd provides business services exclusively for AWBA members. The Waterexchange has no agency relationship, expressed or implied, with any buyer or seller. All transactions between AWBA water brokers agent and their clients are solely the business and responsibility of the respective parties. The Waterexchange does not participate in any fee arrangement with the buyers and sellers and makes no representations as to the accuracy of any information provided by the brokers and agents, and the probability of success or failure of any water auctioned through the online water auction platform. Anyone using the online water auction, or any of its programs and services, does so at his/her own risk.

Anyone using the Waterexchange platforms or services agree to hold the Waterexchange harmless of any risk and liability arising from their use. The Waterexchange makes no warranties and takes no responsibility for the status of any water lot or asset presented for auction by AWBA members. All parties agree to indemnify and hold the Waterexchange harmless for any loss experienced in the use of its programs and services. The Waterexchange does not guarantee that it will be aware of or prevent any inappropriate use of the system. Further, it does not guarantee that sellers or buyers will complete the sale or purchase of a parcel of water. Individual buyers and sellers accept the risk that a sale may not close. Waterexchange is not responsible for errors in the system or for its failure to operate the system properly. All parties use the online water auction service at their own risk.