The biennial competition, which honors the memory of double bass educator, performing artist and composer David Walter, is open to all composers. The ISB renamed the competition as a tribute to his legacy in 2004.

All entries, submitted anonymously, are works in any style that have not yet entered the standard double bass repertoire. The grand prize of $1,000 for each division was made possible through the generous support of the Robert Black Foundation, and also includes a performance at the 2023 ISB Convention, to be held June 5-10 at the University of MIchigan in Ann Arbor.