Lease Purchase Coordinator Sample Clauses

Lease Purchase Coordinator. Middlesex Regional Educational Services Commission (MRESC) is acting as lease purchase coordinator to the Board. Please direct questions and a copy of your Quote submission (*per above) to: MRESC Xxxxxxx X Xxxxx Lease Purchase Coordinator 0000 Xxxxxxx Xxxx Piscataway, New Jersey 08854 (732) 777-9848 ext. 6622 xxxxxx@xxxxx.xx Rate Hold and Bidders May Offer Alternative Index: This bid is for lease purchase financing. New Jersey law requires bidders to hold pricing for sixty days from the date of the bid and that the financial markets are constantly changing. The Board requests that the rate be held for thirty days. The board has opted to award the bid with an indexed rate; the ICE Swap Rate index formula will remain constant. It is our belief that the utilizing the indexed rate will permit bidders to be more aggressive with the knowledge that the need for an exaggerated cushion is alleviated with an index. In order to induce the broadest range of potential bidders the Board will allow respondents to offer an alternative to the ICE Index in their proposal. The alternative index must not give unfair advantage to the respondent. The bidder furnishing an alternative index must supply historical data for the two preceding months of the bid that demonstrates the effect of the index to changes in financial conditions. This historical data will assume two funding dates one month apart for the two months prior to the bid. The offer of an alternative index must be noted on the Bid Response Form and supporting documentation should be appended. The Board’s lease purchase coordinator will make the final determination as to fairness and acceptance of the proposed alternative index. If the lease does not fund at the rate bid within thirty days of award the board requests that the rate be indexed a week before funding during the next thirty day period. The right to extend the indexed rate bid beyond the sixty day window will be at the mutual consent of board and the award winner. The amount to be financed is an approximation based upon information as of the time of bid preparation. The cost of equipment shall be determined as a result of separate bidding or purchase via cooperative purchasing, or state contract pricing and shall be fixed prior to closing of the transaction. As part of your quote, please supply us with the following: Name, telephone number, physical and e-mail addresses of respondent. Rate Index:, Submission Date Rate plus or minus 50% of change in Adjusted...
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Related to Lease Purchase Coordinator

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