performance bond [SPECIFY THE TIME AND PLACE FOR DELIVERY OF THE PERFORMANCE BOND; PROVIDED, HOWEVER, THAT THE TIME SPECIFIED SHALL BE PRIOR TO OR CONCURRENT WITH THE DELIVERY OF THE EXECUTED CONTRACT].
B. Failure to provide the required one year performance bond at the time and place specified by the [CONTRACTING UNIT] shall be cause for assessment of damages as a result thereof in accordance with Section D below. In the event that the successful bidder fails to provide said performance bond, the [CONTRACTING UNIT] may award the contract to the next lowest responsible bidder or terminate the bid process and re-bid the collection services in accordance with N.J.A.C. 7:26H-6.7(d) and Section 4.1 above.
C. For a [FILL IN NUMBER OF YEARS] contract the successful bidder shall provide a performance bond issued by a Surety in an amount equal to no more than 100% of the annual value of the contract. The successful bidder shall provide said performance bond [SPECIFY THE TIME AND PLACE FOR DELIVERY OF THE PERFORMANCE BOND; PROVIDED, HOWEVER, THAT THE TIME SPECIFIED SHALL BE PRIOR TO OR CONCURRENT WITH THE DELIVERY OF THE EXECUTED CONTRACT]. The performance bond for each succeeding year shall be delivered to the [CONTRACTING UNIT] with proof of full payment of the premium one hundred twenty (120) days prior to the expiration of the current bond.
D. Failure to deliver a performance bond for any year of a multi-year, contract one hundred twenty (120) days prior to the termination of the current bond will constitute a breach of contract and will entitle the [GOVERNING BODY] to terminate the contract upon the expiration of the current bond. Notwithstanding termination pursuant to this section, the contractor is obligated to fully perform through the date of termination of the contract and damages shall be assessed in an amount to the costs incurred by the [CONTRACTING UNIT] in re-bidding the contract.
A. If awarded a contract, the successful bidder will be required to comply with the requirements of N.J.S.A. 10:5-31 et seq. and N.J.A.C. 17:27 et seq.
B. Within seven days after receipt of notification of the [GOVERNING BODY'S] intent to award any contract the contractor must submit one of the following to the contracting unit:
New Jersey Department of Environmental Protection
Compliance and Enforcement, Office of Local Environmental Management
Uniform Bid Specifications