Competitive Bidding Procedure for Crude Oil, Fuel Oil, and Bulk Commodities Licensed and qualified bidders (traders), or their duly authorized brokers, will be invited to submit bids for crude oil, fuel oil, and other bulk commodities. Bidding will be conducted on the basis of a specified minimum price and according to the established bidding schedule. Eligible participants may submit their quotations within the designated time period. Only traders holding all required HANSE ENERGY licenses, permits, and regulatory approvals necessary to conduct the proposed transaction shall be eligible to submit bids. Authorized brokers may participate on behalf of qualified principals, provided satisfactory evidence of authority is submitted upon request.