Section 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 .