Sec. 24.708  License grant, denial, default, and disqualification.

    (a) Except with respect to entities eligible for installment 
payments (see Sec. 24.711), each winning bidder will be required to pay 
the balance of its winning bid in a lump sum payment within five (5) 
business days following the award of the license. Grant of the license 
will be conditioned upon full and timely payment of the winning bid 
amount.

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    (b) A bidder who withdraws its bid subsequent to the close of 
bidding, defaults on a payment due or is disqualified will be subject to 
the penalties specified in Sec. 1.2109 of this chapter.