Simultaneous Multiple Round Auction Clause Samples

Simultaneous Multiple Round Auction. In the Auction No. 70 Comment Public Notice, the Bureaus proposed to auction all construction permits in Auction No. 70 in a single auction using the Commission’s standard simultaneous multiple-round (SMR) auction format. This type of auction offers every construction permit for bid at the same time and consists of successive bidding rounds in which eligible bidders may place bids on individual construction permits. A bidder may bid on, and potentially win, any number of construction permits. Typically, bidding remains open on all construction permits until bidding stops on every construction permit, unless a modified stopping rule is invoked.