Frequently asked Questions

Bankruptcy auctions are held in 3 stages – the first auction, a repeat auction (bidding for an increase) and a public offer (bidding for a decrease). In addition, auctions could be open and closed. Open works on the principle of a classic auction, but all actions take place in the personal account of the electronic platform. The organizers set the auction step and the time interval in which you can make your price offer. Participants see the applicant's number and the price offered to them for the lot. Therefore, in an open auction, the participant who made the last larger price offer wins. In a closed auction, at a certain moment, the auction organizer opens the bids of all participants. The winner is the one who offered the highest price.

 

Let's look at the basic terms that you may encounter while studying the trades, as well as answer the most common questions.

UFRBI – Unified Federal Register of Bankruptcy Information

https://bankrot.fedresurs.ru. All information about each bankruptcy case in our country is published here – announcements of bidding, results of bidding, reports on the creditors' meeting, judicial acts related to bankruptcy cases, etc.

Debtor

A citizen, including an individual entrepreneur, or a legal entity, who turned out to be unable to meet the requirements for monetary obligations.

Creditors

Persons who have claims against the debtor for monetary obligations and other obligations (those to whom the Debtor owes).

Arbitration Manager

A citizen of the Russian Federation who is a member of the self-regulating organization of arbitration managers (127 FZ on Insolvency (Bankruptcy). In simple words, a lawyer who conducts a Debtor's bankruptcy case is engaged in the sale of his property in order to repay debts.

The arbitration manager who deals with the bankruptcy of individuals is a financial manager, of legal entities is a competitive manager.

Electronic trading platform

An organization that has a license to conduct auctions on the Internet. Each electronic platform has its own website, where auctions are held in electronic form.

Electronic digital signature (EDS)

Allows you to confirm the authorship of a particular person, whether an individual or a legal entity, in electronic form. There are electronic signatures for various purposes, for each purpose (simple signing of a document or participation in bidding on an electronic platform) there are different signature key certificates. This means that the electronic signature with which you sign documents electronically is not suitable for bidding on an electronic platform.

The electronic digital signature is purchased by the bidder in special certification centers. The average cost of a signature valid on 1 electronic platform is 1000 rubles. An electronic signature that is valid on all currently available electronic platforms – from 25000 rubles.

Registration and accreditation on the electronic platform

In order to participate in bidding on an electronic platform, it is necessary to register, pass accreditation and join the rules of the electronic platform, confirm your agreement with the rules by signing documents with an electronic signature. On average, registration on the site takes up to 5 working days, provided that all documents are submitted correctly. If an error or non–compliance with the rules of the site was made during registration, the registration is canceled and the procedure must be started from the beginning. There is such a service as express accreditation - registration on the site from 1 to 3 hours. Such a service costs an average of 10000 to 20000 rubles.

Deposit

An advance payment (usually 10-20% of the initial value of the item), which is transferred to a special account of the debtor / electronic platform. It confirms your intention to participate in the trade for the acquisition of the designated property. If you were recognized as the winner of the trade, then the deposit goes to offset the total value of the property you are buying back. If you lose, it is returned in full to your account within 5 working days. To confirm the obligations, a bilateral Deposit Agreement is concluded.

What is it for? Each publication on the UFRBI, on the electronic platform, the coordination of the date, time of the trade, etc. is not free. The work of the arbitration manager is also paid, like any other. In order for the trade to be held and applications to be submitted only by persons really interested in acquiring property, a deposit is made. After all, if everyone who is potentially interested in buying will send an application for participation, and then refuse to purchase property for any reason (wait for a reduction in value, too many competitors, etc. d.), then the bidding can be resumed an infinite number of times. In order to prevent this from happening, Federal Law 127 On Insolvency provides for securing one's application with a monetary amount – a deposit.

 
Can you participate in the auction yourself?

Sure. Every citizen of the Russian Federation, with certain knowledge, can independently participate in electronic trades. To do this, you need to find the lot you are interested in, get an electronic signature, register, submit a properly executed bid in time and participate in them.

Our company has extensive experience in participating in a variety of trades: bankruptcy trades, auctions and public offerings; municipal trades; trades for the sale of seized property.

We have registrations and accreditation at all currently available sites; our applications are always allowed to bid – the care and experience of our specialists helps each time to accurately form a complete set of documents required to participate in the auction.

What services do we provide?

The main services of our organization are trading support. We help interested parties to purchase property that is being sold at bankruptcy trades.

Conclusion of the contract

All the activities of our organization take place exclusively and in accordance with the agency agreement concluded between us (Agent) and the interested person (Potential Buyer). Each step is coordinated; the settlement procedure is setting by wire transfer – via a checking account. No hidden fees, fine print and "asterisks" - all payments and conditions are negotiated and prescribed in advance in the Contract.

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