> For the complete documentation index, see [llms.txt](https://docs.term.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.term.finance/protocol/term-auctions/complete-auction.md).

# Complete Auction

The `completeAuction` function is callable once validly submitted tenders have been revealed. This is a two-step process where the Protocol:

1. determines a [pricing rate ](/protocol/term-repos/terminology.md#pricing-rate-repo-rate)to clear the market (the [clearing rate](/protocol/term-auctions/terminology.md#clearing-rate));  
2. assigns fills based on the resulting [clearing rate](/protocol/term-auctions/terminology.md#clearing-rate); and finally
3. settles fills and unlocks tenders "left on the table"