New Jersey Statutes 18A:3B-6.5. Cooperative pricing system, governing board authority; definitions
Terms Used In New Jersey Statutes 18A:3B-6.5
- Board: means the board of education. See New Jersey Statutes 18A:1-1
- Contract: A legal written agreement that becomes binding when signed.
- Higher education: means that education which is provided by any or all of the public institutions of higher education as herein defined and any or all equivalent private institutions. See New Jersey Statutes 18A:1-1
- 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
(2) A lead agency shall procure goods and services through a cooperative pricing system using a master contract. A master contract shall be secured in accordance with all applicable State contracting and procurement laws.
(3) A participating contracting unit may use the master contract during the contract period to procure goods or services of the same specification, quality, and price as that contained in the master contract with the lead agency.
b. No vendor shall be required to extend bid prices to participating contracting units in a cooperative pricing system unless so specified in the bids.
c. As used in this section:
“Cooperative pricing system” means a purchasing system in which one public institution of higher education acts as the lead agency in establishing a master contract with a vendor for the provision of goods or services and through which other public institutions of higher education may subsequently procure goods or services using the master contract.
“Lead agency” means a public institution of higher education that enters into a master contract under a cooperative pricing system pursuant to the provisions of this section.
“Participating contracting unit” means a public institution of higher education, other than the lead agency, that procures goods or services from a vendor using a master contract.
L.2021, c.417, s.11.