§ 585.315. What deposits are required for a competitive ROW grant or RUE grant?
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/us/cfr/t30/s§ 585.315·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)You must make a deposit, as required in § 585.501(a), regardless of whether the auction is a sealed-bid, oral, electronic, or other auction format. BOEM will specify in the sale notice the official to whom you must submit the payment, the time by which the official must receive the payment, and the forms of acceptable payment.
(b)If your high bid is rejected, we will provide a written statement of reasons.
(c)For all rejected bids, we will refund, without interest, any money deposited with your bid.