Description
The State of Delaware seeks a single prime vendor to design, implement, and administer a Master Municipal Lease Purchase Agreement (MMLPA) that will finance equipment leases of $5,000 to $100,000 for state‑funded agencies, municipalities, school districts, and volunteer fire companies. The vendor must establish the lease framework, set tiered interest‑rate structures based on Treasury Constant Maturities (or a clearly identified alternative index), issue and manage invoices, handle pre‑payments, payoff requests, escrow administration, and provide annual debt‑service reporting. Additional responsibilities include supplying legal “Opinion of Counsel” letters, verifying insurance, managing title releases, maintaining records for five years, and offering 24 × 7 emergency support with a 5‑business‑day payoff response time. The contract runs through 30 Sep 2027 with up‑to‑three one‑year extensions and a total funding ceiling of $50 million.
• Provide implementation, rate‑setting, and ongoing lease administration for leases ≤ $100 k.
• Deliver legal, insurance, title, and escrow services, plus annual reporting and 24/7 support.
• Maintain required insurance (CGL, automotive, professional liability) and comply with all Delaware statutes, FOIA, and data‑residency rules.