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| Competitive Auction | 3120.51 – 3120.60 | |||||||||||||
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16 U.S.C. 3101 et seq.; 30 U.S.C. 181 et seq. and 351-359; 40 U.S.C. 471 et seq.; 43 U.S.C. 1701 et seq.; Pub. L. 113-291, 128 Stat. 3762; and the Attorney General's Opinion of April 2, 1941 (40 Op. Atty. Gen. 41).
89 FR 30985, Apr. 23, 2024, unless otherwise noted.
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Subscribe to: 43 CFR Part 3120 - Competitive Auction
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(a) Parcels will be offered by competitive auction.
(b) A winning bid will be the highest bid by a responsible and qualified bidder, equal to or exceeding the national minimum acceptable bid. The decision of the auctioneer will be final.
(a) Payments must be made in accordance with 43 CFR 3103.11.
(b) Each winning bidder must submit, by the close of official business hours on the day of the sale for the parcel, or such other time as may be specified by the authorized officer:
(1) The minimum bonus bid as specified in § 3103.1 of this chapter;
(2) The total amount of the first year's rental; and
(3) The processing fee for competitive lease applications found in the fee schedule in § 3000.120 of this chapter for each parcel.
(c) The winning bidder must submit the balance of the bonus bid to the proper BLM office within 10 business days after the last day of the competitive auction.
(a) A bid will not be withdrawn and will constitute a legally binding commitment to execute the lease bid form and accept a lease, including the obligation to pay the bonus bid, first year's rental, and processing fee. Execution by the high bidder of a competitive lease bid form approved by the Director constitutes certification of compliance with 43 CFR subpart 3102, will constitute a binding lease offer, including all terms and conditions applicable thereto, and must be submitted when payment is made in accordance with § 3120.62(b). Failure to comply with § 3120.62(c) will result in rejection of the bid and forfeiture of the monies submitted under § 3120.62(b).
(b) A lease will be awarded to the highest responsible and qualified bidder. A copy of the lease will be provided to the lessee after signature by the authorized officer.
(c) If a bid is rejected, the land may be reoffered competitively under this subpart.
(d) The BLM will not issue a lease until it resolves all protests covering the lands to be leased.
(e) Leases will be issued within 60 calendar days, following payment by the successful bidder of the remainder of the bonus bid, if any, and the annual rental for the first lease year. If the BLM cannot issue the lease within 60 days, the BLM, with the consent of the bidder, may reject the offer.
Lands offered at the competitive auction that received no bids may be offered in a future competitive auction.