1.Where no minimum selling price has been fixed, all tenders shall be rejected.
2.Where a minimum selling price has been fixed, the intervention agencies shall reject any tender lower than the minimum selling price.
The intervention agencies shall not accept tenders that have not been notified as provided for in Article 45.
3.The intervention agencies shall adopt the decision referred to in paragraphs 1 and 2 after the publication of Commission's decision referred to in Article 46(2). They shall notify the tenderers of the outcome of their participation in the tendering procedure, within three working days after the entry into force of the Commission's decision. They shall notify the successful tenderers of the accepted quantities and of the price to be paid, adjusted for cereals and rice, by increases or reductions determined in accordance with Parts IX, X and XI of Annex I, and Parts II and III(2) of Annex II where the quality of the product differs from the minimum or standard quality respectively.
4.In the case of export of cereals, where the export licence application submitted by the successful tenderer pursuant to Article 42(2) is based on Article 47 of Regulation (EC) No 376/2008, the intervention agency shall cancel the sale in respect of the quantities for which the licence is not issued in accordance with that Article.
5.The rights and obligations of the successful tenderer shall not be transferable.