Declining Balance PO

Virginia Commonwealth University awarded a contract to Richmond Oxygen Company on August 3, 2026, with a cumulative contract value of $9,999.00. The contracting organization, Virginia Commonwealth University, is located in Virginia. The contract involves the delivery of goods or services under a declining balance purchase order mechanism, with a single line item valued at $9,999.00 per unit. Delivery is designated to VCU Procurement, indicating that the products or services will be provided to support Virginia Commonwealth University's operational needs.

The contract award specifies a declining balance purchase order structure, which is a common procurement mechanism that allows the contractor to deliver goods or services as needed, with payment applied against the established contract value until the balance is depleted. Richmond Oxygen Company, as the prime contractor, is responsible for fulfilling the requirements outlined under this purchase order arrangement. The specific products or services to be delivered are referenced as a declining balance purchase order deliverable, though detailed specifications regarding the nature of the goods or services are not provided in the contract documentation available.