N.J. Admin. Code § 19:31C-2.6

Current through Register Vol. 56, No. 17, September 3, 2024

Section 19:31C-2.6 - Submission of sealed bids

(a) All sealed bids shall be submitted on or before the specified time and date required by the public notice and contain all information requested by FMERA. Unless otherwise specified in the notice, a sealed bid shall not be submitted by telephone, facsimile, or other electronic means.

(b) All sealed bids shall include a certified, cashiers or bank check made payable to the Authority in the amount of 10 percent of the bid price, which shall be held by the Authority as a deposit and applied to the purchase price at closing for the accepted bid, and returned to all others.

(c) Deposit checks shall be deposited by FMERA into an interest bearing account with interest accruing to the benefit of the bidder. Deposits paid by unsuccessful bidders, with accrued interest, shall be returned when FMERA issues its notice of intent to award a purchase contract in accordance with 19:31C-2.1 7(e).

(d) Sealed bids received by FMERA shall be held unopened until the close of the bidding period, at which time all bids received shall be publicly opened and the identities of the bidders, but not the substance of the bids, will be read.

N.J. Admin. Code § 19:31C-2.6