Regulation 23 Valid bids

Only bids specified on a bidding menu document in accordance with regulation 17 and contained in a sealed bid which has not been rejected by OFCOM (“valid bids”) shall be taken into consideration for the purpose of determining the winning combination of bids under regulation 24.

Any bidder to whom a notice was given under regulation 15(1) who does not submit a valid bid shall be excluded from the award process and shall not receive a refund of its initial deposit, or its bid deposit where a bid deposit has been paid, which shall (where not already forfeited under regulation 27) be forfeited.