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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 43 - Public Lands: Interior |
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Subtitle B - Regulations Relating to Public Lands |
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Chapter II - Bureau of Land Management, Department of the Interior |
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SubChapter C - Minerals Management (3000) |
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Part 3200 - Geothermal Resource Leasing |
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Subpart 3203 - Competitive Leasing |
§ 3203.15 - How does BLM conduct a competitive lease sale?
Latest version.
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§ 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.