T3030 Bid Amendment 2 - Revised Quote Submission Due Date _3.18.26.docx

This is a Bid Amendment #2 issued by the State of New Jersey Department of the Treasury, Division of Purchase and Property, for Bid Solicitation #25DPP01105 regarding the T3030 Equipment Master Lease Purchasing Financing Facility. The amendment extends the quote submission due date from March 31, 2026 to April 14, 2026 at 2:00 p.m. Eastern Time. An optional pre-quote conference was held on February 5, 2026, with confirmed attendance from Bank of America Corporation and J.P. Morgan Chase & Co. The solicitation seeks a primary source lender to provide up to $100 million in equipment master lease purchase financing over a three-year base term, with options to extend for up to three additional one-year periods. The lessor will finance approximately 160 third-party supplier payments annually across diverse equipment categories including vehicles, computers, helicopters, and administrative assets.

Bidders must submit pricing using a state-supplied price sheet with interest rates calculated as a percentage of the SOFR Swap Rate plus a spread quoted in basis points for three-year, four-year, and five-year financing terms, with all lessor fees and expenses included within the quoted interest rates. Evaluation criteria include technical qualifications addressing personnel qualifications, firm experience with similar-sized contracts, and demonstrated understanding of the scope of work, combined with price evaluation using a weighted basket approach. Bidders must meet mandatory insurance requirements including commercial general liability of at least $1,000,000 per occurrence, automobile liability coverage of $1,000,000, and professional liability insurance of $5,000,000 per occurrence. The solicitation is not designated as a small business or disabled veteran-owned business set-aside, and subcontracting is prohibited. Rental payments will be payable semi-annually in arrears on June 15 and December 15, subject to annual legislative appropriations and the New Jersey Prompt Payment Act, which mandates payment within 60 days of receipt of properly executed vouchers.