---
kind: "section"
citation: "43 C.F.R. § 3203.15"
title: "43"
number: "3203.15"
heading: "How does BLM conduct a competitive lease sale?"
url: "https://uscodex.org/cfr/43/3203.15"
---

# §3203.15. How does BLM conduct a competitive lease sale?

- (a) BLM will offer parcels for competitive bidding as specified in the sale notice.
- (b) The winning bid will be the highest bid by a qualified bidder.
- (c) You may not withdraw a bid. Your bid constitutes a legally binding commitment by you.
- (d) BLM will reject all bids and re-offer a parcel if:
  - (1) BLM determines that the high bidder is not qualified; or
  - (2) The high bidder fails to make all payments required under [§ 3203.17](/cfr/43/3203.17.md).

## Notes

### 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.