Sec. 27.206  Submission of down payment and filing of long-form 
          applications.

    (a) After bidding has ended, the Commission will identify and notify 
the high bidder and declare the bidding closed.
    (b) Within ten (10) business days after being notified that it is a 
high bidder on a particular license(s), a high bidder must submit to the 
Commission's lockbox bank such additional funds (the ``down payment'') 
as are necessary to bring its total deposits (not including upfront 
payments applied to satisfy bid withdrawal or default payments) up to 
twenty (20) percent of its high bid(s). This down payment must be made 
by wire transfer or cashier's check drawn in U.S. dollars from a 
financial institution whose deposits are insured by the Federal Deposit 
Insurance Corporation and must be made payable to the Federal 
Communications Commission. Down payments will be held by the Commission 
until the high bidder has been awarded the license and has paid the 
remaining balance due on the license, in which case it will not be 
returned, or until the winning bidder is found unqualified to be a 
licensee or has defaulted, in which case it will be returned, less 
applicable payments. No interest will be paid on any down payment.
    (c) A high bidder that meets its down payment obligations in a 
timely manner must, within ten (10) business days after being notified 
that it is a high bidder, submit an additional application (the ``long-
form application'') pursuant to the rules governing the service in which 
the applicant is the high bidder. Notwithstanding any other provision in 
title 47 of the Code of Federal

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Regulations to the contrary, high bidders need not submit an additional 
application filing fee with their long-form applications. 
Notwithstanding any other provision in Title 47 of the Code of Federal 
Regulations to the contrary, the high bidder's long-form application 
must be mailed or otherwise delivered to: Office of the Secretary, 
Federal Communications Commission, Attention: Auction Application 
Processing Section, 1919 M Street, NW, Room 222, Washington, DC 20554. 
An applicant that fails to submit the required long-form application as 
required under this section, and fails to establish good cause for any 
late-filed submission, shall be deemed to have defaulted and will be 
subject to the payments set forth in section 27.203.
    (d) As an exhibit to its long-form application, the applicant must 
provide a detailed explanation of the terms and conditions and parties 
involved in any bidding consortia, joint venture, partnership or other 
agreement or arrangement it had entered into relating to the competitive 
bidding process prior to the time bidding was completed. Such agreements 
must have been entered into prior to the filing of short-form 
applications pursuant to Sec. 27.204.