2006 New York Code - Receipt Of Sealed Bids; Deposit Required.

 
    §  24-349  Receipt  of  sealed  bids;  deposit  required.  All bids or
  proposals which may  be  sent  in  answer  to  the  invitation  of  such
  advertisement  shall  be  enclosed in a sealed envelope and delivered to
  the commissioner  or  to  such  person  as  may  be  designated  by  the
  commissioner  to  receive  the  same,  who  shall, upon receipt thereof,
  forthwith and in the presence of the person offering such  bid,  deposit
  it  in  a  box  provided for the receipt thereof. But no bid or proposal
  shall  be  so  received  or  deposited  unless  at  the  time  of   such
  presentation  there  shall  be  deposited  with  the person as aforesaid
  designated a certified check upon a national or state bank, drawn to the
  order of the comptroller, to an amount not less than five percent of the
  amount of the bond or security required by such approved  form  for  the
  faithful performance of the work or furnishing of the materials required
  to  be  done  or  furnished. Such amount need not, however, in any case,
  exceed one hundred thousand dollars.