The Kerala government has decided to amend the terms of auction of timber and other forest products from government depots and forest ranges for speedy realisation of revenues. The new stipulations, finalised at a high-level meeting convened by Forest Minister Benoy Viswom, specifies that successful bidders would have to pay 50 per cent of the bid amount within three days. This is to prevent the bidders from reneging on their commitment to pay the dues and move the timber. If any bidder could not pay the balance amount in time, he would be given up to three months' time to pay the amount and take delivery of the auctioned items. The power for granting such extensions would be devolved to the depot officers and range officers. However, penal interest would be payable at 18 per cent of the amount for the first month. The penal charges would be 24 per cent interest and 2.5 per cent surcharge in the second month. An release said that now only the Divisional Forest Officer, Conservator of Forests or higher officials had the power to grant extensions on removal of auctioned items. Decentralisation of the powers would help the bidders to carry out the transactions. The new norms would come into force from the date of notification.