diff --git a/spec/CHANGELOG.md b/spec/CHANGELOG.md
index 1dfacef..5ebc71d 100644
--- a/spec/CHANGELOG.md
+++ b/spec/CHANGELOG.md
@@ -5,6 +5,9 @@ issue that caused it, so the comment record and the spec history line up.
 
 ## [Unreleased]
 
+- § 5.6 — `pricing[].floor` is the offer floor, not the downstream auction
+  floor. Editorial clarification ([#16](https://github.com/IABTechLab/OpenProposal/issues/16)).
+
 ## [3.0-draft-1] — 2026-09-22
 
 Initial draft published for public comment. Ported from the working-group
diff --git a/spec/openproposal-3.0.md b/spec/openproposal-3.0.md
index 6940958..1a6dc37 100644
--- a/spec/openproposal-3.0.md
+++ b/spec/openproposal-3.0.md
@@ -271,7 +271,7 @@ Each field declares bounds, not a value. A bare value means the field is
 | `pricing[].seller_rate` | Number | seller-set | What the publisher receives |
 | `pricing[].price_valid_until` | Timestamp | seller-set | How long the posted rate holds. Distinct from the proposal's `valid_until` |
 | `pricing[].currency` | String | seller-set | ISO-4217 |
-| `pricing[].floor` | Number | seller-set | OPTIONAL. The lowest rate the seller will consider. Enables a `requestable` counter to be evaluated without a round trip |
+| `pricing[].floor` | Number | seller-set | OPTIONAL. The seller's offer floor: the lowest rate it will consider at proposal time, so a `requestable` counter can be evaluated without a round trip. Not the downstream auction floor, and not a guarantee that bids at or above it will clear |
 | `availability` | Object | derived | `{ unit, basis, as_of, granularity, type: forecast \| reservable, quantity }`. Recomputed against the buyer's selection |
 | `commitment_bounds` | Object | seller-set | The envelope inside which a buyer may commit: `{ min_impressions, max_impressions, min_budget, max_budget }` |
 | `commitment` | Object | settable | **The buyer's actual commitment.** See 5.6.1 |