City to Pilot Online Land Bidding Program
The city has started a trial program that allows bidding on land use and mining rights online. Bidders will no longer need to go to the land trading center to bid for land use, now they only have to log on to a designated website to bid for land.
The only requirement needed before bidding is to pay a security deposit at the land trading center. Winning bidders must go to the land trading center to finalize the transaction and payany remaining balances and sign documents and contracts. Online trading for land use and mining rights ensures authenticity of the identity of the bidder and protects their privacy as well.
Asking for a security deposit before any transactions in online bidding reduces the possibility of fraudulent or joy bidders in participating in the bidding for land use and mining rights. Since online bidding is still in its trial phase, bidding is limited to smaller lots. Bidding for the larger and more popular lots will still be held at the land trading center until the online trading system will be fully operational.