Request to the Dobber 3-Tier Veterans:

Can somebody explain two league functions:

1. Weekly Roster Set-up.
If the first game on Friday is at 7:00pm (EST), by what time does a team need to have their roster set by?
Does the starting roster need to be set by end of Thursday?
Or... can it be modified right up to 6:59pm (EST) on the Friday?

2. FAAB ($100)
Can somebody explain this? How does it work?
If you try to claim a player on Tuesday (say), will you get him by Wednesday? Thursday?
When does a "succesfully bid-on" player show up on your roster?
If your bid is not succesful, how soon will you know - and will there be time to try to bid/add for another player?