How to Place a Bid
Learn step by step how to participate in a bid at NWX Consorcio and obtain your credit letter.
What Is a Bid?
At NWX Consorcio, a bid is a proposal made by a participant who wishes to advance the issuance of their credit letter. By placing a bid, you offer an additional amount that is distributed among the other group participants, allowing you to receive your letter before the final deadline.
Bids are held monthly during the General Assembly, where all participants gather to determine who will receive the credit letter that month.
Placing a bid is not mandatory. You can simply wait until your turn comes naturally through the random draw.
Access Your Account
Log in to the NWX Consorcio platform using your credentials. Access the participant dashboard to view your group, balance, and upcoming assemblies.
If you don't have an account yet, visit nwxconsorcio.com and register.
Verify Your Group
In the dashboard, locate the group you belong to. Check the credit letter amount, number of participants, assembly history, and previous bids.
It's important to understand the group context before making your proposal.
Choose Your Bid Amount
Define the amount you wish to offer as a bid. This amount must be higher than the minimum bid indicated at the assembly. Consider your financial capacity and the credit letter amount when making your decision.
Higher bids have a greater chance of being accepted, but they also represent an additional cost.
Confirm Your Proposal
Review the bid details, including the amount, conditions, and impact on your monthly subscription. After confirmation, your proposal will be registered for the next assembly.
After confirmation, the bid cannot be undone. Make sure you're certain before confirming.
Wait for the Assembly
Your proposal will be presented at the next General Assembly. Bids are ranked from highest to lowest, and the highest bid wins, provided the participant is up to date with their contributions.
You will be notified of the assembly result by email and on the platform.
Receive Your Letter
If your bid is accepted, you will receive your credit letter corresponding to your plan amount. The letter can be used for purchasing real estate, vehicles, or other assets according to the consortium rules.
The credit letter has no interest. You only pay the administrative fee.
Tips for a Good Bid
Research Previous Bids
Analyze the bid history of your group to understand the amounts offered. This helps you set a competitive proposal.
Consider Your Budget
Don't commit more than you can afford. Remember that the bid is an additional cost to your regular monthly contributions.
Follow the Assemblies
Actively participate in monthly assemblies to stay informed about the group's progress and bid opportunities.
Bid Questions
Can I place more than one bid?expand_more
What happens if my bid is not accepted?expand_more
Do I need to be up to date with contributions to place a bid?expand_more
How is the monthly subscription calculated after a bid?expand_more
Can I cancel a bid after confirming?expand_more
Ready to Place Your Bid?
Access your account and start participating in assemblies. Your credit letter may be closer than you think.
Access My Account →