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what aopirose said is correct. directly after bid matching, while everyone is still in the room (at least at my campus), we look at any unmatched women and see if those that did not make quota want to snap bid them. If someone is snap bid, it's often not a chapter they listed, although it could happen (if bid matching stops before all chapters meet quota except a couple and some women are left bidless due to how the process works).
If it's a chapter the woman did not list, Panhel would call and say "you did not receive a bid from the chapters on your list, but ABC wants to offer you a bid." ABC advisor may be present during that call and talk to the woman if she has any questions. The woman comes to sign her bid card before bid day festivities begin (if all works out well) and no one but the advisors know she was given a snap bid. I've only seen this done if the woman is on the chapter's bid list OR was really liked and ended up dropping out of recruitment. I'd assume the chapter would have discussed this possibility at some point during MS.
Here, women usually only self-release if they are sick, something serious happens (family related), they have a previous committment they cannot miss or they're called into work. They do not drop out with the hopes of getting a snap bid (usually 2 out of 3 chapters make quota).
In the example mentioned earlier of a legacy dropping out b/c she only wants her legacy house and just wants a snap bid at the end, she would be taking a SERIOUS risk. If that chapter gets to quota, she is screwed. The chapter could not hold open a spot for her during the bid matching process, even if they really wanted to offer her a bid.
I hope that makes sense. Let me know if it doesn't. There's a lot more detail that can be added, but I didn't want it to be too much info.
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