27 CFR 72.62 - All bids on unit basis.

Regulations last checked for updates: Oct 17, 2024

Title 27 - Alcohol, Tobacco Products and Firearms last revised: Sep 30, 2024

View all text of Subpart F [§ 72.61 - § 72.69]

§ 72.62 - All bids on unit basis.

All competitive bids, whether sealed or otherwise, shall be on a unit basis, i.e. if a number of forfeited automobiles are advertised for sale at the same date, hour and place, whether or not in the same notice of sale, there shall be a separate, individual bid required as to each automobile, and it shall not be permissible to accept one blanket bid to cover the entire group of cars offered for sale.

authority: 18 U.S.C. 921,1261; 19 U.S.C. 1607,1610,1612,1613,1618; 26 U.S.C. 7101,7322,7326,7805; 31 U.S.C. 9301,9303,9304,9306; 40 U.S.C. 304(k); 49 U.S.C. 784,788

source: T.D. ATF-9, 39 FR 9954, Mar. 15, 1974, unless otherwise noted.

cite as: 27 CFR 72.62