Procurement Fee Payment Processing Agent

The contract designates the recipient as the Procurement Fee Payment Processing Agent, tasked with monitoring and tracking electricity consumption in kilowatt-hours across specified facilities under the State of Rhode Island’s purview. The primary obligation is to calculate the procurement fee owed to NORESCO LLC at a fixed rate of $0.000375 per kWh consumed, ensuring accurate and timely computation based on verified usage data. The agent must remit the aggregated fees in strict accordance with the terms outlined in the agreement, maintaining full compliance with reporting and payment schedules, and likely involving regular reconciliation and documentation to support financial transmissions. This subcontract, posted on June 9, 2026, with responses due by June 24, 2026, falls under NAICS code 522390, indicating classification within other real estate activities, and is issued by the State of Rhode Island through its Rhode Island agency office. While specific performance locations and point of contact details are not provided, the contractual obligations are tied to statewide energy usage data, requiring seamless integration with utility monitoring systems. The agreement implies ongoing operational responsibility beyond a single payment cycle, necessitating systems for continuous data collection, fee calculation, and fiduciary accountability to ensure transparent and accurate remittance to NORESCO LLC without delay or error.