Goto Section: 1.2108 | 1.2110 | Table of Contents
FCC 1.2109
Revised as of October 2, 2015
Goto Year:2014 |
2016
§ 1.2109 License grant, denial, default, and disqualification.
(a) Unless otherwise specified by public notice, auction winners are
required to pay the balance of their winning bids in a lump sum within ten
(10) business days following the release of a public notice establishing the
payment deadline. If a winning bidder fails to pay the balance of its
winning bids in a lump sum by the applicable deadline as specified by the
Commission, it will be allowed to make payment within ten (10) business days
after the payment deadline, provided that it also pays a late fee equal to
five percent of the amount due. When a winning bidder fails to pay the
balance of its winning bid by the late payment deadline, it is considered to
be in default on its license(s) and subject to the applicable default
payments. Licenses will be awarded upon the full and timely payment of
winning bids and any applicable late fees.
(b) If a winning bidder withdraws its bid after the Commission has declared
competitive bidding closed or fails to remit the required down payment
within ten (10) business days after the Commission has declared competitive
bidding closed, the bidder will be deemed to have defaulted, its application
will be dismissed, and it will be liable for the default payment specified
in § § 1.2104(g)(2) or 1.2104(g)(3), whichever is applicable. In such event,
the Commission, at its discretion, may either re-auction the license(s) to
existing or new applicants or offer it to the other highest bidders (in
descending order) at their final bids. If the license(s) is offered to the
other highest bidders (in descending order), the down payment obligations
set forth in § 1.2107(b) will apply. However, in combinatorial bidding
auctions, the Commission will only re-auction the license(s) to existing or
new applicants. The Commission will not offer the package or licenses to the
next highest bidder.
(c) A winning bidder who is found unqualified to be a licensee, fails to
remit the balance of its winning bid in a timely manner, or defaults or is
disqualified for any reason after having made the required down payment,
will be deemed to have defaulted, its application will be dismissed, and it
will be liable for the payment set forth in § § 1.2104(g)(2) or 1.2104(g)(3),
whichever is applicable. In such event, the Commission may either re-auction
the license(s) to existing or new applicants or offer it to the other
highest bidders (in descending order) at their final bids. However, in
combinatorial bidding auctions, the Commission will only re-auction the
license(s) to existing or new applicants. The Commission will not offer the
package or licenses to the next highest bidder.
(d) Bidders who are found to have violated the antitrust laws or the
Commission's rules in connection with their participation in the competitive
bidding process may be subject, in addition to any other applicable
sanctions, to forfeiture of their upfront payment, down payment or full bid
amount, and may be prohibited from participating in future auctions.
[ 59 FR 44293 , Aug. 26, 1994, as amended at 62 FR 13544 , Mar. 21, 1997; 63 FR 2343 , Jan. 15, 1998; 68 FR 42996 , July 21, 2003]
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Goto Section: 1.2108 | 1.2110
Goto Year: 2014 |
2016
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