Declining Balance PO

Virginia Commonwealth University awarded a contract to the Richmond Public Library on August 7, 2026, with a cumulative value of $2,400.00. The contract involves the provision of a declining balance purchase order mechanism, with delivery directed to VCU Procurement. The line item specifies a single unit at a unit price of $2,400.00, establishing the total contract value. The Richmond Public Library serves as the prime contractor under this agreement.

The specific products or services to be delivered under this declining balance purchase order structure are not explicitly detailed in the available contract documentation. The arrangement appears designed to provide a flexible purchasing mechanism whereby the Richmond Public Library will supply goods or services to Virginia Commonwealth University, with the cumulative value capped at $2,400.00. Performance will occur in Virginia, with deliverables directed to VCU Procurement. The contract documentation does not specify a defined performance period beyond the award date of August 7, 2026.