T2769 Bid Amendment 3 6.23.25.docx

This document is a Bid Amendment issued by the New Jersey Department of the Treasury's Division of Purchase and Property for Bid Solicitation #25DPP01127, specifically for Non-Tax Debt Collection: Management and Related Services. The amendment extends the original quote submission due date from June 24, 2025, to July 10, 2025, at 2:00 p.m. Eastern Time. The procurement seeks a single contractor to collect non-tax debt receivables from various state agencies after the 91st calendar day following debt recording, with services including skip-tracing, debtor contact, payment processing, reporting, and potential litigation across multiple state departments.

The contract will operate on a contingency rate model, where the contractor is compensated through a percentage of collected debt, with rates escalating based on total dollars collected annually. The total accounts receivable across state departments is $2,480,582,274.25. The solicitation includes set-asides and preferences for Small Businesses and Disabled Veteran-Owned Businesses, potentially offering 5% pricing preferences. The contract has a base three-year term with potential extensions up to two additional years. Strict information security requirements are mandated, including a comprehensive Third-Party Information Security Questionnaire covering 30 security control areas, with vendors required to provide detailed documentation about their security practices, including SOC2 Type II audit reports and privacy policies.