How will the auction work, exactly?
There are 6,510 bid points that are up for sale. These are divided by population density, so a rural bid point will cover much more geographic area than an urban point. Industry Canada has set a minimum bid for each point. Potential bidders had to specify how many bid points they had their eyes on before the auction and supply letters of credit showing they were good for at least their minimum value. The auction will proceed in rounds, with the first round happening on May 27. Initial rounds will take a few hours but will eventually take as little as half an hour. Participants will bid on spectrum through an internet-based system and will have a phone number they can call as a backup in case of problems. Participants will be required to bid on 75 per cent of the bid points they applied for in the first round. Industry Canada will raise that percentage in successive rounds in order to move the auction along and avoid having participants hold off on making bids.
There are 6,510 licences — otherwise known as bid points — that are up for sale. These are divided by population density, so a rural bid point will cover much more geographic area than an urban point. Industry Canada has set a minimum bid for each point. Potential bidders had to specify how many bid points they had their eyes on before the auction and supply letters of credit showing they were good for at least their minimum value. The auction will proceed in rounds, with the first round happening on May 27. Initial rounds will take a few hours but will eventually take as little as half an hour. Participants will bid on spectrum through an internet-based system and will have a phone number they can call as a backup in case of problems. Participants will be required to bid on 75 per cent of the bid points they applied for in the first round. Industry Canada will raise that percentage in successive rounds in order to move the auction along and avoid having participants hold off on making
