New Jersey Revised Statutes § 18a:39-4 - Form Of Bid; Deposit; Forfeiture Or Return Of Deposit

18A:39-4. Form of bid; deposit; forfeiture or return of deposit
Each transportation bid shall be accompanied by information required on a standard form of questionnaire approved by the state board and by a cashier's or certified check for 5% of the annual amount of the contract, which deposit shall be forfeited upon the refusal of a bidder to execute a contract; otherwise, checks shall be returned when the contract is executed and a bond filed.

L.1967, c.271

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Last modified: October 11, 2016