Get players names, yell out players names, collect money. Don't think there are any "rules" just "common practice" such as player buying part of himself from a bidder, or tipping, or timing or whatever. I've seen them run all sorts of ways, including a phone-in bid and a blind bid where you just bid on a spot and get to pick a player. Had that done during a state tournament in NJ, guy that won that spot paid less for the top player there than was bid for the next several top players and ended up winning.
Best to draw up yer own but I've got a feeling they want something legal I've seen it done several different ways, most times it's illegal, you know? It is considered wagering, I believe.