Goto Section: 1.2202 | 1.2204 | Table of Contents
FCC 1.2203
Revised as of October 2, 2015
Goto Year:2014 |
2016
§ 1.2203 Competitive bidding mechanisms.
(a) Public notice of competitive bidding procedures. Detailed competitive
bidding procedures shall be established by public notice prior to the
commencement of the reverse auction, including without limitation:
(1) Sequencing. The sequencing with which the reverse auction and the
related forward auction assigning new spectrum licenses will occur.
(2) Reserve price. Reserve prices, either disclosed or undisclosed, so that
higher bids for various reverse auction bid options would not win in the
reverse auction. Reserve prices may apply individually, in combination, or
in the aggregate.
(3) Opening bids and bid increments. Maximum or minimum opening bids, and by
announcement before or during the reverse auction, maximum or minimum bid
increments in dollar or percentage terms.
(4) Activity rules. Activity rules that require a minimum amount of bidding
activity.
(b) Binding obligation. A bid is an unconditional, irrevocable offer by the
bidder to fulfill the terms of the bid. The Commission accepts the offer by
identifying the bid as winning. A bidder has a binding obligation to fulfill
the terms of a winning bid. A winning bidder will relinquish spectrum usage
rights pursuant to the terms of any winning bid by the deadline set forth in
§ 73.3700(b)(4) of this chapter.
(c) Stopping procedures. Before or during the reverse auction, procedures
may be established regarding when bidding will stop for a round, a stage, or
an entire auction, in order to terminate the auction within a reasonable
time and in accordance with public interest considerations and the goals,
statutory requirements, rules, and procedures for the auction, including any
reserve price or prices.
(d) Auction delay, suspension, or cancellation. By public notice or by
announcement during the reverse auction, the auction may be delayed,
suspended, or cancelled in the event of a natural disaster, technical
obstacle, network disruption, evidence of an auction security breach or
unlawful bidding activity, administrative or weather necessity, or for any
other reason that affects the fair and efficient conduct of the competitive
bidding. The Commission has the authority, at its sole discretion, to resume
the competitive bidding starting from the beginning of the current or some
previous round or cancel the competitive bidding in its entirety.
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Goto Section: 1.2202 | 1.2204
Goto Year: 2014 |
2016
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