2013 New Jersey Revised Statutes
Title 18A - EDUCATION
Section 18A:39-4 - Form of bid; deposit; forfeiture or return of deposit
18A:39-4. Form of bid; deposit; forfeiture or return of deposit
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.
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