N.J.S.A. 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. L.1967, c.271

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This is the verbatim text of N.J.S.A. 18A:39-4, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.