Can I place a fixed bid and a free bid in the same month?

It depends on the group's rules. In many cases there is more than one mode, but the allowed combination varies by administrator.

Which bid has the best chance of winning?

There is no single rule. The free bid lets you offer more to win; the fixed bid is predictable but subject to a tiebreak. The group's history helps you decide.

If I lose the bid, do I lose the money?

As a rule, the offered amount is not charged if the bid does not win. Confirm the procedure in your group's contract.

Decisão

Fixed bid or free bid: which to choose in a consortium?

By the Liberty Carta team•October 6, 2026•5 min read

Understand the difference between a fixed bid and a free bid in a consortium, how each decides the winner and which usually fits your goal.

Scenario	What to check	Best next step
Fixed bid	Contract percentage and tiebreak rule.	Choose if you want predictability.
Free bid	The group's history of winning bids.	Bid based on data, not a hunch.
No competition	Ágio and balance of contemplated letters.	Compare total cost against the bid.

Want to compare a real letter?

Check entry amount, installment, term and administrator before deciding. Liberty Carta helps verify the share and compare total cost.

See available letters

Direct answer: in a fixed bid the percentage is set in the contract and ties are broken by the group's rule; in a free bid you offer any amount and the highest percentage wins. The fixed bid is more predictable; the free bid gives more control but requires following the competition.

Fixed bid

The percentage is predetermined by the administrator and the same for everyone who chooses this mode. Since the amount is known, you know exactly how much you need to have. Ties are settled by the group's rules, usually by a draw.

Free bid

There is no set percentage: each participant chooses the amount. The one who offers the highest percentage of the credit at that assembly wins. In practice, winning bids vary from group to group and month to month.

Fixed bid: known amount, less uncertainty, competition decided by tiebreak.
Free bid: you set the amount, but need to follow the group's history.
In both, the offer does not guarantee an award — it only raises the chance.

Ask the administrator for the group's history of winning bids. It shows the realistic range and avoids bidding too little (and missing out) or too much (and tying up cash for nothing).

If your priority is not depending on any competition, a carta contemplada removes that step: the credit is already released and you negotiate the ágio. We are not a consortium administrator; we provide brokerage and advisory services.

FAQ

Frequently asked questions

← All articles