18.60.050 Method of payment.
A. A minimum of $1,000 shall be paid to the borough when executing a negotiated material contract. No refund will be made if the volume removed is not equivalent to the value of the initial payment. The balance of the negotiated contract price is due as provided in the sale contract.
B. Competitive bid offerings shall require the following payment schedule:
1. An initial payment of $1,000 or 10 percent of the total contract value, whichever is more, shall be deposited at the time of the bid award;
2. The balance of the contract price shall be due as provided in the material sales contract;
3. No refund of the initial payment will be made if no material or the equivalent valued material is not removed; and
4. Up to $2,000 of the initial payment may be retained by the borough as payment deposit throughout the life of the contract to be applied to the final payment due for materials not earlier paid for. [Ord. 78-25-O §1, 1978].