T3030 - Equipment Master Lease Purchasing Financing Facility

The State of New Jersey Department of the Treasury, Division of Purchase and Property, is soliciting quotes for lease purchase financing services under Bid Solicitation 25DPP01105 for the T3030 Equipment Master Lease Purchasing Financing Facility. The procurement 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 by mutual written consent. The lessor will finance approximately 160 third-party supplier payments annually across diverse equipment categories including vehicles, computers, helicopters, and other administrative assets. Bidders must submit pricing using the state-supplied price sheet with interest rates calculated as a percentage of the SOFR (Secured Overnight Financing Rate) Swap Rate (based on the Bloomberg 490 SOFR Curve) plus a spread quoted in basis points for three-year, four-year, and five-year financing terms, with all percentages rounded to four decimal places and 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 across the three pricing lines. An optional pre-quote conference is scheduled for February 5, 2026, at 9:30 AM, with an electronic question and answer period with a deadline of 2:00 p.m. on February 19, 2026, and quotes are due by 2:00 p.m. on March 17, 2026.

This solicitation is not designated as a small business or disabled veteran-owned business set-aside, and subcontracting is prohibited; the State will award one contract to a single primary source lender. No incumbent vendors or current contractors are identified in the procurement documents, and no existing infrastructure or specific technology integration requirements beyond standard lease payment processing and IRS form compliance (Forms 8038-G and 8038-GC) are specified. 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, workers' compensation insurance, and professional liability insurance of $5,000,000 per occurrence, and must comply with New Jersey state laws including business registration, ownership disclosure forms, Iran investment activity disclosures, non-discrimination provisions, affirmative action requirements, and pay-to-play prohibitions. If federal funds support any portion of the contract, additional requirements apply regarding small business participation, domestic procurement preferences, Equal Employment Opportunity compliance, Davis-Bacon prevailing wage standards, and debarment and suspension verification. The contract value is not to exceed $100 million over the base term, though the State is not obligated to utilize the entire facility, and 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.