Investors who use TreasuryDirect or Legacy Treasury Direct engage in noncompetitive bidding; this means they agree to accept any discount rate or yield determined by the auction. (savingsbonds.gov)
If you want to buy a Treasury security at an auction, set up an account in TreasuryDirect (for noncompetitive bids only) or contact a financial institution, or a government securities broker or dealer. (savingsbonds.gov)
«With respect to keeping up academically, I quickly learned that HGSE is a very noncompetitive environment in which fellow classmates support and help one another a lot. (gse.harvard.edu)