43 CFR 3203.15 - How does BLM conduct a competitive lease sale?

Regulations last checked for updates: Oct 18, 2024

Title 43 - Public Lands: Interior last revised: Sep 06, 2024

§ 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.

authority: 30 U.S.C. 1001-1028; 43 U.S.C. 1701

source: 72 FR 24400, May 2, 2007, unless otherwise noted.

cite as: 43 CFR 3203.15