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Public Higher Education Bulletin

 
University of Illinois at Chicago
Emergency Award #JCM773
Announcement of an Emergency Award/Quick Purchase
Final Amount
Published Thursday October 19, 2017
Vendor: PNC Bank
Final Amount: $99,455

Final Amount
The State Purchasing Officer for this procurement is now Lee Saulter.
The University award process may be delayed up to thirty days as this award goes through a state approval process.
Award Info Awarded Friday September 16, 2016
Awarded to:
Vendor: PNC Bank, Pittsburgh, PA
Amount: An estimated $104,000
Terms:
An estimated start date of 9/16/2016 through 12/15/2016
Renewals:
None
The University award process may be delayed up to thirty days as this award goes through a state approval process.
First published Friday, September 16, 2016
The University awarded a contract for financing of an equipment purchase.
This emergency/quick purchase was required due to a situation in which immediate action was needed to prevent any disruption in University services.
The University of Illinois at Chicago (UIC) Equipment Financing requests a quick purchase for the financing of capital equipment, BioTek Cytation 5 Monochromator Imaging System (see award 687JCM).

Due to the State's current fiscal situation, vendors have been unwilling to extend financing to State Agencies and Universities. IPHEC's quarterly bid process has been placed on hold until such a time that a consistent level of State appropriation can be achieved. Finding a right fit for financing levels, with favorable terms has become a challenging proposition.

With the understanding that their purchase would be financed by Banc of America, the department of Neurology and Rehabilitation Medicine received a new BioTek IMaging System via sole source 687JCM awarded on 4/19/16. This equipment is necessary for their research program in pursuit of a real cure for Alzheimer's disease. This particular device is needed in order to perform biochemical and cell biological research.

The lender must agree to finance this specific equipment at favorable rate for the three year term to accommodate the BioChemistry Unit's budget/finance responsibility.

PNC Bank will finance this equipment, given that the University cannot finance the equipment through third-party vendors that have consistently responded to the IPHEC quarterly bid for the past five years. In the absence of Banc of America and US Bancorp the University has to quickly get the equipment financed by another company.

No other Bank contacted has accepted a financing offer. If this request is not approved, Neurology will have to return the equipment, jeopardize vendor relationship and damage University reputation.

This quick purchase is needed as the vendor quote dated March 22, 2016 has been extended until September 16, 2016.

For additional information, contact:
John Meehan
University of Ilinois at Chicago
Purchasing Division (M/C 560)
809 South Marshfield Avenue
Chicago, IL 60612-7203
Phone: (312) 413-5961
FAX: (312) 996-2055
State Purchasing Officer - Lee Saulter

This transaction is subject to the State Board of Elections registration and certification requirements of Public Act 095-0971.

The State of Illinois has a policy to encourage prospective vendors to hire qualified veterans, minorities, females, persons with disabilities and ex-offenders.

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