# 30 CFR § 556.520: What happens if I am the successful high bidder and BOEM accepts my bid?

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-30-556.520

## Section

- **Citation:** 30 CFR § 556.520
- **Heading:** What happens if I am the successful high bidder and BOEM accepts my bid?
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 30—Mineral Resources > CHAPTER V—BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR > SUBCHAPTER B—OFFSHORE > PART 556—LEASING OF SULFUR OR OIL AND GAS AND FINANCIAL ASSURANCE REQUIREMENTS IN THE OUTER CONTINENTAL SHELF > Subpart E—Issuance of a Lease > Awarding the Lease

## Text

(a) If BOEM accepts your bid, BOEM will provide you with the appropriate number of copies of the lease for you to execute and return to BOEM. Within 11 business days after you receive the lease copies, you must:
(1) Execute all copies of the lease;
(2) Pay the first year's rental;
(3) Pay the balance of the bonus bid, unless deferred under paragraph (b) below;
(4) Comply with subpart I of this part; and,
(5) Return all copies of the executed lease, including any required bond or other form of security approved by the Regional Director, to BOEM.
(b) If provided for in the final notice of sale, BOEM may defer any part of the bonus and bid payment for up to five years after the sale according to a schedule included in the final notice of sale. You must provide a bond acceptable to BOEM to guarantee payment of a deferred bonus bid.
(c) If you do not make the required payments and execute and return all copies of the lease and any required bond within 11 business days after receipt, or if you otherwise fail to comply with applicable regulations, your deposit will be forfeited. However, BOEM will return any deposit with interest if the tract is withdrawn from leasing before you execute the lease.
(d) If you use an agent to execute the lease, you must include evidence with the executed copies of the lease that a person who is on the list of persons referenced in § 556.402(c)(3) authorized the agent to act for you.
(e) After you comply with all requirements in this section, and after BOEM has executed the lease, BOEM will send you a fully executed lease.

## Nearby sections

- [30 CFR § 556.500 § 556.500 Once qualified, how do I submit a bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.500.md)
- [30 CFR § 556.501 § 556.501 What information do I need to submit with my bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.501.md)
- [30 CFR § 556.511 § 556.511 Are there restrictions on bidding with others and do those restrictions affect my ability to bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.511.md)
- [30 CFR § 556.512 § 556.512 What bids may be disqualified?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.512.md)
- [30 CFR § 556.513 § 556.513 When must I file a statement of production?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.513.md)
- [30 CFR § 556.514 § 556.514 How do I determine my production for purposes of the restricted joint bidders list?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.514.md)
- [30 CFR § 556.515 § 556.515 May a person be exempted from joint bidding restrictions?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.515.md)
- [30 CFR § 556.516 § 556.516 What does BOEM do with my bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.516.md)
- [30 CFR § 556.517 § 556.517 What may I do if my high bid is rejected?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.517.md)
- [30 CFR § 556.520 § 556.520 What happens if I am the successful high bidder and BOEM accepts my bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.520.md)
- [30 CFR § 556.521 § 556.521 When is my lease effective?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.521.md)
- [30 CFR § 556.522 § 556.522 What are the terms and conditions of the lease and when are they published?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.522.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-30-556.520. Check the current official text before relying on it. Not legal advice.