Declining Balance PO for Electric Service work 11

Express Electric Company received a contract award from Virginia Commonwealth University (VCU) on June 17, 2026, to provide electric service work under a declining balance purchase order mechanism. The contract, identified as A236_P0341556, establishes a cumulative value of $50,000.00 and is structured as a single line item with a unit price of $50,000.00. Delivery of services is designated to VCU Procurement, indicating that work will be performed at or support operations at Virginia Commonwealth University facilities located in Virginia.

The contract award represents a task order or blanket purchase agreement structure, as evidenced by the declining balance designation, which allows VCU to draw against the total contract value as electric service work is completed and invoiced. No specific period of performance dates are provided in the award documentation. As the prime contractor, Express Electric Company is solely responsible for fulfillment of all electric service work obligations under this agreement with Virginia Commonwealth University.