Master Municipal Lease Purchase Agreement

The State of Delaware Department of Government Support Services is seeking professional services to provide a State of Delaware Master Municipal Lease Purchase Agreement. This agreement will allow the State to finance various equipment and projects. The selected vendor will be required to enter into a written agreement with the State of Delaware and provide pricing for each lease term. The vendor will also be responsible for managing all subcontract relationships and ensuring that all lease payments are made on time. The State of Delaware reserves the right to reject any or all proposals and to negotiate with one or more vendors during the same period. * Key aspects of the agreement include: * A term of two years with three optional extensions for a period of one year for each extension * A minimum lease amount of $5,000.00 * The ability for the Lessee to structure payments monthly, quarterly, or semi-annually * The requirement for the Awarded Vendor to invoice each Lessee directly * The option for the Lessee to fund equipment under this Master Lease by either an escrow account or a direct vendor payment