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Lending Guidance
Negotiating: Making offers
The offers
There are two types of offers: live offers and accepted offers. An offer becomes "live" from the moment you send your offer to the company. The offer becomes "accepted" when the employer has reviewed and accepted your terms.
Live offer
You can offer to several companies without limit. However, you can only have one live offer per company. You can also edit or delete your offer while it is live. If your offer has been rejected, you can bid again. There is no limit on how many times your offer can be rejected!
The negotiation time is decided by the employer. It can vary from 15 to 90 days. In other words, the employer can wait until the last day to accept or reject your offer. On the other hand, if your offer is very attractive, he or she may accept it straight away.
The whole process is public and you can see which offers the employer has accepted.
As long as the offer is live, no cost is incurred. It can be rejected, edited or deleted without charge.
Accepted offer
When the company has accepted your offer, you will not be able to modify it and you will be legally obliged to comply with it. In case of non-compliance you will be banned from the platform for a month.
The bidding process is public and you may see offers from other investors. If your offer is high, you will be less likely to be accepted.