Master Lease for Statewide Financial Leasing Prequ
Ended State & local contract Michigan Awarded
- Contract number
- MA190000000364
- Awardee
- TD Equipment Finance, Inc.
- Contracting organization
- Department Technology, Management and Budget
Contract facts
- End date
- Points of contact
-
- Emily Massa massae@michigan.gov (517) 897-7321
- Emily Fedewa fedewae3@michigan.gov (517) 897-7321
- Jordan Sherlock sherlockj@michigan.gov (517) 243-5556
- Lisa Spitzley spitzleyl4@michigan.gov (517) 249-0440
Contract details come from michigan.gov. Updated .
About this contract
This Master Equipment Lease Agreement provides Michigan state agencies with flexible financing solutions for equipment acquisitions through a statewide Financial Leasing Prequalification Program. The contract establishes a two-tier procurement process wherein qualified lessors submit competitive fixed-rate financing proposals for equipment lease requests of $500,000 or greater. State agencies specify equipment descriptions and desired lease terms not exceeding the equipment's useful life, and the State awards leases to the prequalified contractor offering the lowest interest rate. The agreement includes an early purchase option allowing the State to acquire equipment for one dollar plus outstanding principal, accrued interest, and any prepayment premiums, with lease payments structured as fixed-rate amortizations on a monthly or annual basis as specified by the State.
The prime contractor for this indefinite delivery vehicle is TD Equipment Finance, Inc., administered by the Michigan Department of Technology, Management and Budget (DTMB) through its Central Procurement Services division. The contract was originally effective from February 1, 2019, through January 31, 2024; however, Change Notice 2 exercised five available one-year option periods, extending the period of performance through January 31, 2029. This non-exclusive contract covers statewide geographic coverage across Michigan and carries no specified aggregate value, as actual costs depend on individual lease transactions executed under the Master Agreement framework.
Files
| File | Type | Posted |
|---|---|---|
| 190000000364.pdf |
Quick answers
Who holds contract MA190000000364?
Contract MA190000000364 was awarded to TD Equipment Finance, Inc. by Department Technology, Management and Budget in Michigan on February 1, 2019.
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