N.J. Admin. Code § 5:34-8.1

Current through Register Vol. 56, No. 21, November 4, 2024

Section 5:34-8.1 - Multi-year contracts

(a) All multi-year contracts, including all multi-year leases and multi-year leases with option to purchase which are authorized under 40A:11-15(7), 40A:11-15(15) or 18A:18A-42(f), and other multi-year contracts subject to 40A:11-15 and 18A:18A-42 for the procurement of goods or services shall be subject to competitive bidding if the cumulative amount to be expended during the duration of the multi-year lease or contract exceeds the threshold for competitive bidding for the contracting unit.

(b) Pursuant to the provisions of 40A:11-15 or 18A:18A-42, a contract award that was based upon receipt of quotations shall not be extended if the total value of the contract exceeds the bid threshold, which includes the original award plus any extension.