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

---
identifier: "/us/cfr/t43/s3203.15"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "43 CFR § 3203.15 - How does BLM conduct a competitive lease sale?"
title_number: 43
title_name: "Public Lands: Interior"
section_number: "3203.15"
section_name: "How does BLM conduct a competitive lease sale?"
chapter_name: "BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR"
subchapter_number: "C"
subchapter_name: "MINERALS MANAGEMENT (3000)"
part_number: "3200"
part_name: "GEOTHERMAL RESOURCE LEASING"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "30 U.S.C. 1001-1028; 43 U.S.C. 1701  and Pub. L. 109-58."
regulatory_source: "72 FR 24400, May 2, 2007, unless otherwise noted."
cfr_part: "3200"
---


# 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.