**As of October 12, 2023, This project has not yet been awarded. A timeline for award has not yet been established.** Clinton Street Park Project, Phase-II 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 often percent (10%) of the bid, along with consent of surety from a Bonding Company. In no case shall the bid guarantee exceed $20,000.00. The bid guarantee must be accompanied by a surety company certificate (known as a Consent of Surety) duly authorized to do business in this State and satisfactory to the City of Paterson, stating that such surety company will provide the bidder with a guarantee bond or other surety as a guarantee indemnification. 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. Bidders must comply with regulations of the "New Jersey Local Public Contract Law" (N.J.S.A.40A: 11-let.seq.), Affirmative Action regulations N.J.S.A. 10:5-3 let seq., N.J.A.C. 17:27, the New Jersey Prevailing Wage Act 12:60-1 et seq. (N.J.S.A.34:11-56-1 et. seq., N.J.S.A.34:11-56.25 et. seq.) and the New Jersey Contractor Business Registration Certificate N.J.S.A.52.32-44. The Municipal Council of the City of Paterson reserves the right to consider bids for sixty (60) days after receipt thereof, and the award will be made to the lowest responsible bidder in accordance with applicable law. As of September 07, 2023, this project has not yet been awarded. A timeline for the award has not yet been established.