Description
The Board of Education of South Brunswick is seeking a financial institution to provide lease‑purchase financing for 1,500 HP Fortis Chromebooks and 750 Apple laptops (MacBook Neo and MacBook Air). The vendor must fund the principal (total $989,625) into an interest‑bearing escrow account, lock an interest rate for 30‑60 days, and supply amortization schedules for two repayment streams (3‑year/3 payments for Chromebooks and 5‑year/5 payments for Apple laptops). The contract includes escrow administration, compliance with New Jersey statutes, and delivery of required certifications and disclosures.
• Provide a fixed‑rate lease‑purchase structure with a rate‑hold of 30‑60 days.
• Maintain an NJ‑GUDPA‑approved escrow account (or incur a $1,750 escrow‑agent charge).
• Deliver annual payments (≈$169k for Chromebooks, $109k for Apple laptops) and handle equipment acceptance by September 30 2026.
• Submit all required forms (BRC, affirmative‑action, non‑collusion, etc.) with the original bid by May 28 2026.