N.J. Admin. Code § 17:19-2.3

Current through Register Vol. 56, No. 21, November 4, 2024

Section 17:19-2.3 - Joint venture statement (DPMC projects only)

(a) Where two or more firms each with a valid classification and rating for the same trade category, propose to form a joint venture for purposes of bidding on a DPMC project, the firms shall jointly submit a Statement of Joint Venture Form (DPMC 606) to the DPMC, which shall:

1. Be provided to the DPMC by the joint venture no less than five business days before the bid due date set for the project on which they proposed to bid;

2. State the classifications of the individual firms;

3. Describe the purpose, structure and resources of the joint venture, and be supplemented by any other information requested by the DPMC;

4. Include a statement from a surety authorized to issue payment and performance bonds in the State of the bonding capacities of the individual firms and the bonding capacity of the joint venture; and

5. Be signed by all of the firms comprising the joint venture.

(b) In no event shall a joint venture's aggregate rating exceed the combined total of the individual firms' aggregate ratings. However, if the joint venture's combined aggregate rating exceeds $ 200,000,000, the joint venture may be deemed unlimited.

N.J. Admin. Code § 17:19-2.3

Amended by R.2000 d.76, effective 2/22/2000.
See: 31 N.J.R. 4237(a), 32 N.J.R. 712(a).
In (a) and (b), substituted references to PMC-606 for references to DBC 606; and in (a)1, substituted "days, excluding weekends and/or legal holidays," for "calendar or work days" following "five".
Amended by R.2008 d.363, effective 12/1/2008.
See: 40 N.J.R. 3959(a), 40 N.J.R. 6825(a).
In the introductory paragraph of (a) and in (a)1 and (a)3, inserted "the" preceding "DPMC".