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Escrow and Financial Security Management

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State & Local

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

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The Escrow and Financial Security Management subcontract, issued by the Virginia Public Works Capital Development agency, focuses on the management of escrow funds through approved securities to guarantee performance assurance in accordance with municipal contract requirements. This procurement opportunity falls under NAICS code 524126 and is designed to ensure financial stability and compliance for capital development projects. The solicitation was posted on August 24, 2026, with a response deadline of October 9, 2026. Interested parties can find further details and submission guidelines through the provided OpenGov procurement portal.

General Info

Virginia Public Works subcontract for escrow and financial security management, deadline October 9, 2026.

Agency

Virginia → Public Works - Capital DevelopmentView Agency

NAICS

524126 - Direct Property and Casualty Insurance CarriersView NAICS

Place of Performance

VA, USA

Set-Aside

NONE

Documents

This scope was carved out of IFB 27-32.

The full solicitation package (10 documents), including the RFP, is on the prime solicitation, not on this scope.

View the prime solicitation

BARRACKS EMMET STREETSCAPE

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Timeline

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Organization & Contact Information

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AgencyVirginia → Public Works - Capital Development
ContactsNo contacts available
OfficeN/A
Organization / Agency
Virginia → Public Works - Capital Development
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Office AddressN/A
ContactsNo contact information available

Full Description

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Management of escrow funds using approved securities to ensure performance assurance per municipal contract requirements.

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Same NAICS industry code

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NAICS: 237310
New
SLED
BARRACKS EMMET STREETSCAPE
Solicitation # IFB 27-32
The City of Charlottesville, through the Public Works Capital Development agency, is soliciting bids under IFB 27-32 for the Barracks Emmet Streetscape project. The solicitation was posted on August 24, 2026, with a response deadline of October 9, 2026. The project involves civil engineering and infrastructure improvements in Charlottesville, Virginia, specifically focusing on pavement design, utility infrastructure such as gas lines and telephone conduits, and surface drainage. Performance is subject to strict quality standards, including specific pavement tie-in requirements and the use of a 10-foot straightedge for joint testing. Key contractual requirements include a seasonal restriction on tree removal from April 1 to November 14 to protect roosting bat habitats in compliance with state and federal Endangered Species Acts. Financial security is managed through an escrow agreement requiring the use of approved securities, such as U.S. Treasury securities or Virginia political subdivision bonds, to ensure satisfactory performance. While bidders are not required to submit a Certificate of Insurance with their initial bid, they must provide proof of required coverage and name the City as an additional insured before commencing work. The project also involves coordination with various landowners and the management of specific utility adjustments, such as the spot lowering of gas lines.
Highway, Street, and Bridge Construction

POSTED

about 18 hours ago

DEADLINE

in about 2 months
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