§3203.15. How does BLM conduct a competitive lease sale?
43 C.F.R. § 3203.15
BLM will offer parcels for competitive bidding as specified in the sale notice.
The winning bid will be the highest bid by a qualified bidder.
You may not withdraw a bid. Your bid constitutes a legally binding commitment by you.
BLM will reject all bids and re-offer a parcel if:
BLM determines that the high bidder is not qualified; or
The high bidder fails to make all payments required under § 3203.17.
Notes, amendments, and revision history
Authority
Authority: 30 U.S.C. 1001-1028; 43 U.S.C. 1701 et seq.; and Pub. L. 109-58.
Source
Source: 72 FR 24400, May 2, 2007, unless otherwise noted.