Sec. 90.907  Submission of upfront payments and down payments.

    (a) Upfront payments. Bidders in a 800 MHz SMR auction for Spectrum 
Blocks A through V will be required to submit an upfront payment prior 
to the start of the auction. The amount of the upfront payment for each 
license auctioned and the procedures for submitting it will be set forth 
by the Wireless Telecommunications Bureau in a Public Notice in 
accordance with Sec. 1.2106 of this chapter.
    (b) Down payments. Winning bidders in a 800 MHz SMR auction for 
Spectrum Blocks A through V must submit a down payment to the Commission 
in an amount sufficient to bring their total deposits up to 20 percent 
of their winning bids within ten (10) business days after the auction 
closes. Winning bidders will be required to make full payment of the 
balance of their winning bids ten (10) business days after Public Notice 
announcing that the Commission is prepared to award the license.
[ 62 FR 41221 , July 31, 1997]