It is like that for all three lifts.
You can't go down in your next attempt.
You can do the same weight again if you miss it.
You can do a higher weight even if you miss it.
You can decline a further attempt.
I've seen plenty of people bomb out off a meet.
Actually had a friend not have a top ten squat go into the record books because he bombed out on deads.
(His hands swelleds up from too much dbol/anadrol and he couldn't hold onto the weight. He is like 5'5" and 265lbs so he has little stubby fingers.)
You can hit a world record bench but if you don't finish the meet the lift technically doesn't count.




							
						
				
				
				
					
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 Enough to be 265lbs at 5'5".