N.Y. State Finance Law Section 140
Disposition of deposit accompanying bid


Whenever as a condition precedent to the reception or consideration of a proposal for construction, alteration, repair or improvement for the state or any department or officer thereof, a deposit of a certified check, money, bonds, corporate stock, certificates of indebtedness, or otherwise, is required, a bidder under such proposal may withdraw his bid if no award of the contract be made within forty-five days after the receipt of the bids, and upon such withdrawal his deposit shall be forthwith returned to him. A check, money, corporate stock, bond, or other security, the deposit of which is required by statute to secure a bid upon such a proposal shall be retained under the jurisdiction of the comptroller until returned to the bidder, or forfeited as provided by the law pursuant to which such proposal was made. The provisions of this section shall supersede the provisions of any act inconsistent herewith.

Source: Section 140 — Disposition of deposit accompanying bid, https://www.­nysenate.­gov/legislation/laws/STF/140 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

135
Separate specifications for contract work for the state
135‑A
Definitions
136
Contracts in pursuance of appropriations
136‑A
Contracts for architectural, engineering, geological, landscape architecture and surveying services
136‑B
Selection of underwriters by state agencies
136‑C
Contracts for employee training and organizational development services
136‑D
Contracts involving industrial painting and industrial coatings
136‑D*2
Contracts involving low embodied carbon concrete
137
Bond to secure payment of certain claims arising from a public improvement
138
State contracts not to be assigned without consent
138‑A
Commencement of actions on state public works contracts
139
Retained percentages
139‑A
Ground for cancellation of contract by state
139‑B
Disqualification to contract with state
139‑C
Removal of disqualification of public contractors by petition
139‑D
Statement of non-collusion in bids to the state
139‑E
Security bonds
139‑F
Payment on public work projects
139‑G
Obligations to make contracts available to small and certified women and minority-owned business concerns
139‑H
Participation in an international boycott prohibited
139‑I
Obligations with respect to procurement contracts with New York state and foreign business enterprises
139‑J
Restrictions on contacts during the procurement process
139‑K
Disclosure of contacts and responsibility of offerers
139‑L
Statement on sexual harassment, in bids
140
Disposition of deposit accompanying bid
141
Claims against contractors
142
Workmen’s compensation insurance on public works
143
Deposits on plans and specifications for contracts for public work
144
Opening and reading of bids for contracts for public work
145
Acceptance of final payment under a state contract
146
Certain construction contracts involving steel
147
Mentor-protege program
148
Certain contracts involving personal protective equipment and medical supplies

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 140’s source at nysenate​.gov

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