TDNAM questions - HELP

webmasterbeta

New Member
I accidentally placed a high bid for a domain, and I then received an email saying that "Your maximum bid for this domain is $XXX.00"

Does that mean if my competitor for this domain place a maximum bid of $50, I will win the auction for $55, instead of $xxx?

Also, what will happen if I refuse to pay it after 7 days? Will I get banned?
 
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