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What are snap bids?

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I keep hearing the word snap bid but I do not understand what it is. When is one used during rush?

Posted By: New PNM
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#1    

If a sorority does not match with enough pnm's to reach quota, they may issue snap bids to get to quota. These bids are offered sometime between bid matching and before bids go out on bid day, and pnm's being offered one are contacted individually during this time. Those who accept a snap bid go to bid day and run home with everyone else. Eligible pnm's either dropped out of rush, or suicided after pref and didn't get a bid, or were cut entirely in an earlier round. Snap bids are rare, with very, very few given out, if at all. Understand that snap bids are never ever something for any pnm to count on.

Sometimes a house releases too many pnm's during earlier rounds and needs to make it up with snap bids. This is either a miscalculation on their part or the algorithm is just way off. Sometimes pnm's end up preffing a house they think they don't want and don't list that house on their card, cutting themselves off that bid list and leaving that house short at bid matching. Pnm's who do this take a huge risk at not getting a bid at all.

By: snaps

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by: snaps   

Part 2
Snap bids are not the same as the Continuous Open Bidding process, or COB. Snap bids only happen at the very end of rush before bids are opened. After bid day, any house that still didn't reach quota, or whose membership is below the house total as designated by panhellenic, may issue bids through COB. COB can be a year-round process, except for rush week. And while snaps can only go to pnm's who participated in rush, COB does not have that requirement.

By: snaps
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