View source for Auctions of Last Resort

'''Auctions of Last Resort''' are described as the final resolution mechanism for [[Contention Set|contention sets]] under ICANN's [[New gTLD Program]]. Section 4.3 of the [[Applicant Guidebook]] states in part:
<blockquote>It is expected that most cases of contention will be resolved by the community priority evaluation, or through voluntary agreement among the involved applicants. Auction is a tie-breaker method for resolving string contention among the applications within a contention set, if the contention has not been resolved by other means.<ref>[https://newgtlds.icann.org/en/applicants/agb ICANN.org Applicant Guidebook Resource Page]</ref></blockquote />

ICANN auctions are different from private auctions, although either type might use the same basic methodology. One distinguishing factor is that ICANN auctions generate funds for ICANN. A [[Cross-Community Working Group on New gTLD Auction Proceeds]] was established to determine what to do with funds raised by auctions of last resort.

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