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June 15, 2023
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Public - City
To Be Determined, Paterson, NJ
The City of Paterson requires that a bidder must submit with his bid, a bid guarantee in the form of a bid bond, certified check, or cashier's check in the amount of ten percent (10%) of the bid, along with consent of surety from a Bonding Company. Failure to include this item will mandate rejection of bid. The City of Paterson requires that a bidder who is awarded a contract, which exceeds $44,000.00, must submit a Performance Bond in the full amount of the award from a Company doing business in the State of New Jersey. This bond shall be made to the City of Paterson and shall be held as security for the performance of the contract. The performance bond shall be submitted within ten (10) days of the date of the award letter. Failure to submit a Performance Bond shall be cause for declaring the contract null and void.
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