Township accepts maintenance bond for Oak View Terrace paving
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Description
Woolwich Township accepted a two-year $219,545.54 maintenance bond from Arawak Paving Co Inc for the completed Improvements to Oak View Terrace project, originally awarded for $237,976.17. Acceptance of the maintenance bond releases the prior performance guarantee while ensuring coverage through April 20, 2028.
Contract Details
Contract Amount
$237,976.17 (original construction contract); $219,545.54 (maintenance bond amount)
Vendor
ARAWAK PAVING CO INC
Agency
Township of Woolwich, NJ
Contract Type
CONSTRUCTION
Document Date
May 18, 2026
Contract Term
Maintenance bond effective April 20, 2026 – April 20, 2028
Renewal Date
2028-04-20
Renewal Info
Performance guarantee is released and replaced by a two-year maintenance bond running through April 20, 2028.
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