New Jersey S3805 allows State agencies to issue advanced payments to certified business enterprises awarded State contracts.
New Jersey S3805 enables State agencies to provide advanced payments to certified business enterprises awarded State contracts. These payments can be up to 10 percent of the total contract value. Certified businesses include small businesses, LGBTQ+ businesses, minority and women-owned businesses, veteran and disabled veteran-owned businesses, and businesses owned by socially and economically disadvantaged individuals. The purpose is to help certified businesses that lack capital to bid on public contracts or work as subcontractors.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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