CODE: 7440
SECTION: CONSTRUCTION, REMODELING AND RENOVATION
PERFORMANCE GUARANTEES
On any contract for construction exceeding the bid threshold as set by the State of New Jersey a 100% performance payment and completion bond will be required.
Bid bonds of 10% of the bid will be required and shall be in compliance with the Public School Contract Law.
First Reading: December 12, 2000
Adopted: December 19, 2000