New Jersey Administrative Code
Title 6A - EDUCATION
Chapter 27 - STUDENT TRANSPORTATION
Subchapter 9 - CONTRACTING FOR TRANSPORTATION SERVICES
Section 6A:27-9.5 - Bidder's guarantee
Universal Citation: NJ Admin Code 6A:27-9.5
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The district board of education may require the guarantee to be submitted in the form of a certified check, cashier's check, or bid bond. No other form of guarantee is authorized.
1. The bidder guarantee shall include the
number assigned to the bid for which guarantee is submitted.
(b) The amount of the bidder's guarantee shall be a minimum of five percent of the bid, not to exceed $ 50,000.
(c) Except for the three lowest bidders, the guarantee shall be returned to the bidders within 10 business days after the opening of the bids.
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