New Jersey § 18a:18a-24
Full text of New Jersey New Jersey Statutes § 18a:18a-24, with citation guidance and answers to common questions.
§ 18a:18a-24.
There may be required from any person bidding on any contract , advertised in accordance with law, that the bid be accompanied by a guarantee payable
to the board of education that, if the contract is awarded to the bidder, the bidder will enter into a contract therefor and will furnish any performance bond or other
security required as a guarantee or indemnification. The guarantee shall be in the amount of 10% of the bid, but not in excess of $20,000.00,
except as otherwise provided herein, and may be given, at the option of the bidder,
by certified check, cashier's check or bid bond. In the event that any law or regulation of the United States imposes any condition
upon the awarding of a monetary grant to any board of education, which condition requires
the depositing of a guarantee in an amount other than 10% of the bid or in excess
of $20,000.00, the provisions of this section shall not apply and the requirements
of the law or regulation of the United States shall govern.
Frequently Asked Questions About New Jersey § 18a:18a-24
What does New Jersey Statutes § 18a:18a-24 cover?
Section 18a:18a-24 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:18a-24?
A common citation format is "New Jersey Statutes § 18a:18a-24" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:18a-24 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.