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Session 2022 - 2023. Establishes ?Elections Transparency Act;? requires reporting of campaign contributions in excess of $200; increases contribution limits; concerns independent expenditure committees, certain business entity contributions, and certain local provisions; requires appropriation.
Prohibits campaign contributions by certain business entities performing State, county and local contracts; prohibits certain contributions by county political party committees.
The Prompt Payment Act requires prompt payment of contractors (defined as a person or entity contracting with an owner to improve real property), subcontractors (those who contract to provide labor, material or other services to a prime contractor), sub-subcontractors (providing the same to a subcontractor) and ...
In ance with the New Jersey Prompt Payment Act (P.L. 1987, Chapter 184), interest must be paid to any business concern that does not receive payment within 60 days from the date the State 1) received goods or services or 2) received a properly executed vendor invoice, whichever is later.
Contracts awarded pursuant to a State Contract are considered ?fair and open? under PL 2004, c. 19, therefore the first steps of the contracting unit's fair and open process are covered, i.e., advertising, establishing the award criteria, opening of proposals and vendor selection.
In New Jersey, the elements of a valid contract are: ? An offer (see Offer). An acceptance (see Acceptance). Consideration (see Consideration). Mutual assent and intent to be bound (see Mutual Assent and Intent to be Bound).