Eid prayer can be performed in congregation, or individually any time between sunrise and noon. The best time of the Eid prayer is after the sun has reached the height of a spear (approximately 20 minutes from sunrise). However if one missed it one should make it up.
The Eid prayer is not preceded by the adhan (the call to announce the prayer time) or iqamah (the call to start prayer).
The one who performs the Eid prayer must satisfy the conditions and avoid the invalidators of prayer.
The Eid prayer consists of two Rak^ahs. It is initiated with the opening takbir, with the intention to perform ^Id Prayer with the Imam, followed by the opening supplication, and seven takbirs. In between each takbir of the seven takbirs one recites the following du^a':
"Subhanallah, walhamdulillah, wala ilaha illallah, wallahu akbar".
Then one recites al-Isti^adhah (seeking refuge with Allah from the shaytan by saying "A^outhu billahi minash-Shaytanir-Rajeem"), Suratul-Fatihah and Surat Qaf or Suratul al-'A^la alternatively.
In the second rak^ah one says five takbirs before reciting the Fatihah followed by Suratul-Qamar or Suratul-Ghashiyah. If one started with the Fatihah leaving out any or the entire takbirs, ones prayer is still valid, however one would miss out on the reward of the takbirs. Hence one should continue with one's prayer order.
After the prayer, it is recommended that the Imam delivers two speeches (same as the Friday speech) starting with nine takbirs in the first half of the khutbah and seven in the second. The Imam should teach the people the rules of breaking the fast, visiting one's relatives, and other significant matters pertaining to Eid.
Click here for Eid Tabkbirat.