Question: I am an existing Maker on LibDib. How do I update my pricing in a non-price posting market?
Pricing Rules for Non-Price Posting Markets
In non-price posting markets, LibDib has specific rules and processes for updating Maker pricing:
- Monthly Approval Cycle
New pricing is reviewed and approved on a specific day of the month (see chart below). If the day falls on a weekend, the approval will be done on the next business day. Any changes submitted in the prior month will be queued for this review.
- Pricing Lock Period
Once your pricing is approved, it is locked for one month. This ensures compliance and consistency in the marketplace. - Gold/Silver Maker Priority
Portfolio Managers can approve pricing updates at any time for Gold and Silver Makers. This means if you hold a Gold or Silver membership, you can submit changes and potentially have them approved faster than the standard cycle. - Maker Responsibility
Makers must submit their own pricing updates through their LibDib account. LibDib does not adjust pricing on a Maker’s behalf.
How to Submit Your Price Change
- Log in to your LibDib account.
- Navigate to the Offerings tab under Markets, select the product and enter Suggested Next Months Selling Price, then update.
- Submit the update. This will queue your change for approval during the first week of the following month (unless you are a Gold/Silver Maker and your Portfolio Manager approves sooner).
Compliance Considerations
All pricing must remain consistent for customers within the same business channel (on-premise, off-premise, chains etc)
This ensures compliance with state regulations and fairness across the market.
Tip: If you have an upcoming promotion or need to adjust pricing quickly, Gold or Silver membership may give you the flexibility to have changes approved outside the standard monthly cycle.