These are the auction terms. These terms are shown to the bidders when they attempt to place their first bid in the auction. The bidders are forced to read through and accept these terms before they can place their first bid or purchase a buy-it-now item.

Demo Auction with 'Maximum Bidding' Display Format. The inventory has 1 bid box per item - Bidder enters highest bid amount as Maximum Bid, and the software will automatically bid in the set increments until that Maximum Bid is reached.  

This is the Maximum Bidding display format that has 1 bid box per item - Entered bid will be the bidder's Maximum Bid for that item.