The prize is a monetary award of BGN 10,000.
It is awarded to the author of the best novel as determined by the jury.
The responsibility of the jury is to determine the qualifying books from which a short list of six is selected.
The Prize is awarded by the Foundation Chairman or by a person appointed by him.
There is also a competition for the most popular short-listed book, based on votes cast by the general public. The author of the novel with the greatest public acclaim receives a prize of BGN 1,000.