New Jersey Statutes 18A:64-69. Time limit, return of bid guaranty
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Terms Used In New Jersey Statutes 18A:64-69
- 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
18. The State college shall award the contract or reject all bids within such time as may be specified in the specifications or other documents issued to all bidders, but in no case more than 60 days, except the bids of any bidders who consent thereto, either before or after the 60-day period, may, at the request of the State college, be held for consideration for such longer period of time as may be agreed. Within three days, Sundays and holidays excepted, after the awarding of the contract and the approval of the successful bidder’s performance bond, if any, the bid guaranty of the remaining bidders shall be returned to them.
L.1986,c.43,s.18; amended 2005, c.369, s.11.