Article 448. The organization and procedure for bidding.

1. Auctions and contests may be open and closed. In open auction and open competition, any person can participate. In a closed auction and a closed competition, only persons specially invited for this purpose participate. 2. Unless otherwise provided by law, a notice of tendering must be made by the organizer no less than thirty days before they are held. The notification must contain, in any case, information on the time, place and form of bidding, their subject matter and the procedure for conducting it, including registration of participation in bidding, determining the person who won the bidding, as well as information about the initial price. If the subject of the auction is only the right to conclude a contract, the notice provided for the upcoming auction should indicate the period provided for this. 3. Unless otherwise provided by law or in the notice of bidding, the organizer of open bidding, who made the notice, shall have the right to refuse to hold the auction at any time, but not later than three days before the date of its holding, and the competition - no later than thirty days before the competition. In cases when the organizer of the open bidding refused to conduct them in violation of the specified deadlines, he is obliged to compensate the participants for the actual damage suffered by them. The organizer of a closed auction or a closed tender is obliged to compensate the participants who have invited them the actual damage, regardless of the exact time after the notice was sent, the refusal to bid has followed. 4. Bidders shall make a deposit in the amount, time and manner specified in the notice of bidding. If the auction did not take place, the deposit is subject to return. The deposit is also returned to persons who participated in the auction, but did not win them. When concluding an agreement with the person who won the auction, the amount of the deposit paid by him shall be counted towards the fulfillment of obligations under the concluded agreement. 5. The person who won the bidding and the organizer of the bidding sign on the day of the auction or competition a protocol on the results of the bidding, which has the force of the contract. The person who won the bidding, in case of evasion from signing the protocol, loses the deposit made by him. The organizer of the auction, who avoided signing the protocol, is obliged to return the deposit in double amount, as well as to reimburse the person who won the tender for losses incurred by participation in the tender in the part exceeding the deposit amount. If the subject of bidding was only the right to conclude a contract, such a contract must be signed by the parties no later than twenty days or another period specified in the notice after the bidding is completed and the minutes are drawn up. In the event that one of them evades from concluding an agreement, the other party has the right to apply to the court with the requirement to compel the conclusion of an agreement, as well as to pay damages caused by evasion from its conclusion.

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Links to other articles of chapter 28. Conclusion of a contract:
Article 432. Basic provisions on the conclusion of the contract.
Article 433. The moment of the conclusion of the contract.
Article 434. The form of the contract.
Article 435. Offer.
Article 436. Irrevocability of the offer.
Article 437. Invitation to make offers. Public offer.
Article 438. Acceptance.
Article 439. Acceptance withdrawal.
Article 440. Conclusion of a contract on the basis of an offer defining the term for acceptance.
Article 441. Conclusion of an agreement on the basis of an offer that does not determine the term for acceptance.
Article 442. Acceptance received late.
Article 443. Acceptance on other conditions.
Article 444. Place of conclusion of the contract.
Article 445. The conclusion of the contract is mandatory.
Article 446. Pre-contractual disputes.
Article 447. The conclusion of the contract at the auction.
Article 449. Consequences of violation of the rules for conducting tenders