1. Any contract, the total price of which exceeds $100,000.00, entered into by a board of education involving the construction, reconstruction, alteration, repair or maintenance of any building, structure, facility or other improvement to real property, shall provide for partial payments to be made at least once each month as the work progresses, unless the contractor shall agree to deposit bonds with the board of education pursuant to section 2 of P.L.1987, c.343 (C.18A:18A-40.2).
N.J. Stat. Ann. § 18A:18A-40.1
Partial payments
Known as the Public School Contracts Law
The act spans §§ 18A:18A-1 to 18A:18A-9 (96 sections).
L.1987,c.343,s.1; amended 1999, c.440, s.75.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.