ITC70 Operational Lease Financing

The Commonwealth of Massachusetts, through its Operational Services Division (OSD) and the Operational Term Leasing Services Strategic Sourcing Team (SST), is seeking quotes (bid responses) for Operational Lease Financing Services under the ITC70 Statewide Contract. The resulting contract will serve as the primary vehicle for Executive Agencies and other eligible entities within Massachusetts to acquire operational leases for equipment, primarily in the area of Information Technology (IT). Quotes may be submitted and evaluated at any time prior to the Bid Opening date of September 20, 2018 at 2:00 PM, and contracts may be awarded immediately upon successful evaluation. Bidders must have a minimum of three years' experience providing equipment lease services and have acted as a lease financier on at least three operational term lease agreements with government entities. The Commonwealth is seeking significant Supplier Diversity Program (SDP) commitments from all bidders, which will be evaluated at 10% or more of the total score.

The contract will have an initial term of approximately four years, with one optional one-year renewal, and an estimated value of $40 million. Bidders must provide a business profile, details on their financial capacity and intent to retain lease schedules, and disclose any contingencies or defaults. The Commonwealth has included standard state forms related to the ITC70 Operational Lease Financing contract opportunity, such as the Asset Lease Quote Form, the Environmental Practices Form, and the Recent Experience Form. Successful bidders will be subject to the General Terms and Conditions outlined in the contract, which address lease processes, equipment acceptance, maintenance, insurance, termination, and payment terms.