30 CFR 585.223 - What does BOEM do if there is a tie for the highest bid?

Regulations last checked for updates: May 21, 2024

Title 30 - Mineral Resources last revised: May 15, 2024

View all text of Subpart B [§ 585.200 - § 585.239]

§ 585.223 - What does BOEM do if there is a tie for the highest bid?

(a) Unless otherwise specified in the Final Sale Notice, except in the first stage of a two-stage bidding auction, if more than one bidder on a lease submits the same high bid amount, the winning bidder will be determined by a further round or stage of bidding as described in the Final Sale Notice.

(b) The winning bidder will be subject to final confirmation following determination of bid adequacy.

authority: 43 U.S.C. 1337.

source: 88 FR 6430, Jan. 31, 2023, unless otherwise noted.

cite as: 30 CFR 585.223