Section 670-55-7 - Compensation1. Amount A. The applicant shall pay the Bureau compensation for the logs in an amount not less than 20% of the market value of the logs as determined after they are salvaged and ready for sale or processing.B. Market value for the purposes of paragraph 1 will be calculated in one of the following methods as approved by the Bureau. (1) The gross value or mill-delivered price as shown on scaling slips or receipts produced by the buyer of whole logs and submitted to the Bureau. This value will not include reductions or allowances for transportation or other factors;(2) The market value as determined by the Bureau after the logs are scaled by a licensed log scaler acceptable to the Bureau or by Department of Conservation staff. In assigning market value using this approach, the Bureau will consider the specifications and prices of selected mills and/or buyers of salvaged logs, and information on salvaged log values from operations already authorized by the Bureau; or(3) Another method as negotiated between the Bureau and the applicant, and determined by the Bureau to reasonably approximate market value.2.Timing of PaymentsA. For whole logs sold to and scaled by a buyer, payment of the royalty in full shall be made to the Bureau within 14 days of the date of log scaling.B. For logs in which market value is being determined by the Bureau, payment shall be made in full within 14 days of the Bureau's determination of market value.3.Late PaymentsA. A penalty on late payments will be assessed and paid at a rate that will be established in the authorization.B. If payment is not received by the due date, all salvage activities shall cease, unless the Bureau has given specific written permission to allow the operation to continue, and only under any conditions imposed as part of that permission.C. In cases in which the Bureau has not received payment of all sums due within 14 days of the due date, the Bureau, at its discretion, may take the following steps: (1) Revoke other sunken log salvage authorizations issued to the applicant,(2) Deduct all amounts owed the Bureau from the applicable performance guarantee held by the Bureau;(3) Take possession of any logs that have been salvaged; and/or(4) Take any other steps allowed under the law.01- 670 C.M.R. ch. 55, § 7