Modern Group. Ltd 20-GNSV2-01164 New Amend.pdf

This is a Contract Amendment to Master Blanket Purchase Order No. 20-GNSV2-01164 between Modern Group, Ltd. and the State of New Jersey, Department of the Treasury, Division of Purchase and Property. The amendment was executed on July 13, 2023, and pertains to contract T2848 for Preventive Maintenance and Testing of Generators. Periscope Holdings, Inc. serves as the State's eProcurement system vendor implementing NJSTART and the NJSTART Marketplace, which enables using agencies and cooperative purchasing participants to search and purchase from state contracts.

The amendment establishes four key operational requirements for the contractor. First, Modern Group, Ltd. must submit quarterly sales reports to Periscope no later than thirty calendar days after each quarter ending March 31, June 30, September 30, and December 31, detailing all sales, credits, returns, refunds, purchasing entity information, and supplier convenience fees. Second, the contractor must remit a one percent (1%) supplier convenience fee on all invoiced purchases to Periscope Holdings, Inc. on a quarterly basis, with payment due no later than thirty days after each calendar quarter end, with failure to remit timely resulting in ineligibility for NJSTART Marketplace purchases. Third, the contractor must cooperate with the State and/or Periscope to upload catalog items and pricing within thirty calendar days of amendment execution. Finally, the contractor must maintain detailed sales records available for state examination and audit, with the State and Periscope authorized to audit for completeness and accuracy, and if underpayment of the convenience fee of five percent or more is discovered, the contractor must reimburse audit costs.