How many days does a contractor have to sign the contract and execute the bonds after being awarded the bid?

When a contractor is awarded a bid, they have a specific timeframe within which to formalize the agreement by signing the contract and executing the necessary bonds. In New Jersey, this period is set at five days. This timeframe is designed to ensure that the contractor commits to the project in a timely manner, facilitating the progression to the next steps of mobilization and work commencement. Maintaining this schedule is essential for project planning and can help avoid potential delays in the construction process. Understanding this timeframe is important for contractors as it lays the foundation for their obligations and ensures compliance with statutory requirements related to contract execution in the context of public works projects.