New Jersey Statutes 18A:39-4. Form of bid; deposit; forfeiture or return of deposit
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Terms Used In New Jersey Statutes 18A:39-4
- Board: means the board of education. See New Jersey Statutes 18A:1-1
- Contract: A legal written agreement that becomes binding when signed.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
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