Snap vs COB Explained

1) You are not getting a snap or COB if you signed your MRABA card and didn't SIP. Your signature on that card is a binding agreement for one year. It states that you will accept the bid you are offered. If you don't accept your bid, or accept and drop at any point, the agreement still holds.
2) If you started rush and don't get a bid for any reason, you are eligible for a snap. But do not count on it. The rush system makes it a very, very low probability of happening for any house to have to snap bid.
3) Snap bids can only be offered until 5:00, if there are any, but they always go out much earlier. Again, don't count on it.
4) Continuous Open Bidding can happen right after bid day for any house that did not make quota. Otherwise, it will have to wait until ISC resets the Chapter Total Membership number. Any houses that are under that number may offer some bids if they wish, but it is entirely their descretion if and how they do it. They do not have to make an announcement or be put on a publicized list to do it.

FACTS