This Solicitation opportunity from California was posted on August 5, 2024. The submission period has ended. Browse the details below for market research, or find similar active opportunities.

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Lease Compliance Audit

Closed

B2024-07State & Local

Submission Closed08/26/2024, 12:00:00 AM UTC

Contract Overview

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

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NAICS: 532490

New

SLED

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AI Contract Overview

The City of Torrance has issued a contract for Lease Compliance Audits, where the vendor will conduct assessments upon request to ensure lease agreements are being adhered to properly. Each lease varies in terms and conditions, requiring the vendor to thoroughly understand the specific contractual details, identify potential compliance risks, and collaborate with lessees to complete the audits effectively. The primary focus of each audit is to verify the accuracy and completeness of rent payments made to the City, ensuring they align with the terms outlined in each lease agreement. The contract size ranges from $50,000 to $200,000, with the vendor expected to perform these audits within the scope of the specified parameters. The solicitation, identified as B2024-07, was posted on August 5, 2024, with a response deadline of August 26, 2024. The contract is managed under the NAICS code 532490, which pertains to other commercial and industrial machinery and equipment rental and leasing. The City of Torrance, part of California’s State and Local Government (SLED), will oversee the contract, with Turquoise Benjamin serving as the primary point of contact. Interested vendors can find additional details and submit responses through the provided online portal.

General Info

Agency

California → City of Torrance

NAICS

532490 - Other Commercial and Industrial Machinery and Equipment Rental and Leasing

Place of Performance

CA, USA

Set-Aside

NONE

Documents

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Timeline

PhaseClosed

PostedAug 5

Solicitation

Response DeadlineAug 26

Deadline has passed

Submission Closed

08/26/2024, 12:00:00 AM UTC

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Organization & Contact Information

AgencyCalifornia → City of Torrance

Contacts1 person available

OfficeN/A

Organization / AgencyCalifornia → City of Torrance

Office AddressN/A

Contacts

Turquoise BenjaminPOC

contact@example.gov

+1 (555) 000-0000

Full Description

Vendor will perform compliance audits as requested by the City. As each lease agreement has different terms and conditions, the risk and scope will differ from one lease to another. The vendor will be expected to gain an understanding of each contract, identify compliance risks specific to the contract and work with the Lessee in a collaborative manner to complete the audit. At a minimum, each audit will have prescribed procedures to determine whether rent remitted to the City was accurate and complete as delineated and agreed to in the lease agreement.