N.J. Admin. Code § 19:35-4.12

Current through Register Vol. 57, No. 1, January 6, 2025

Section 19:35-4.12 - Sealed bid process for surplus personal property: Notice of Award

(a) The successful bidder shall be given a "Notice of Award" advising of the SDA's acceptance of its bid with respect to the purchase of the surplus personal property.

(b) The Notice of Award shall be given in the manner and within the time for acceptance of the bid as may be specified in the terms and conditions detailed in the Notice of Solicitation of Sealed Bids.

(c) The Notice of Award shall be in writing and shall specify the time and manner for payment of the balance of the bid price and for taking possession of the surplus personal property.

(d) A written Notice of Award shall be deemed to result in a binding contract without any further action by either party.

(e) A copy of the Notice of Award addressed to the winning bidder shall be provided to all unsuccessful bidders.

N.J. Admin. Code § 19:35-4.12

Adopted by 54 N.J.R. 647(a), effective 4/4/2022