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West OrangeRed Risk

ClosedProfessional Services

REVALUATION OF ALL COMMERICAL, RESIDENTIAL & REAL PROPERTY SITUATED WITHIN THE TWP OF WEST ORANGE

BID #: 254

ISSUED: 3/9/2023

DUE: 4/11/2023

VALUE: TBD

Rating

Risk Rank

Red Risk

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Executive Summary

The Township of West Orange is soliciting sealed proposals for the revaluation of all commercial, residential, and real property within its municipal boundaries. The selected company will be responsible for appraising each parcel according to its fair market value, adhering to state standards and professional appraisal practices. Key requirements include utilizing specific software systems, maintaining a functional office, and providing detailed project reports. The contract term is one year, with potential for extensions. Bidders must comply with Affirmative Action and Pay-to-Play laws. Proposals are due by April 11, 2023, at 11:00 AM.

Detailed Risk Breakdown

local preference

Evidence Detected

1 CLAUSES FOUND

"...ompany agrees to provide services necessary to classify, sketch and appraise each parcel of real estate and each real property improvement which lies within the boundaries of the Township of West Orange at its fair market value according N.J.S.A. 54:4-1 et seq., Standard 6 of the Uniform Standards of Professional Apprai..."

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performance bond

Evidence Detected

2 CLAUSES FOUND

"...A performance surety bond equal to the amount of this contract, executed by reputable bonding firm authorized to do business in the State of New Jersey shall be provided at contract execution...."

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liquidated damages

Evidence Detected

3 CLAUSES FOUND

"...The Township of West Orange has the irrevocable right to deduct up to $500.00 per day (Liquidation Damages) from any funds if the Company fails to comply with this requirement within 90 days of the contract being awarded...."

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