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.
N.J. Stat. Ann. § 18A:39-4
Form of bid; deposit; forfeiture or return of deposit
Known as the School Bus Safety Act
The act spans §§ 18–18 (66 sections).
L.1967, c.271
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.