Explanation
BACKGROUND: To change the company name and Federal Identification number for contracts and purchase orders currently in process and established with Asset Auctions, LLC to Asset Nation, Inc due to a merge of companies and updated FID number and to extend the option to purchase contract to March 31, 2010 in accordance with State Contract RS908507. This ordinance authorizes the assignment of all past, present and future business done by the City of Columbus from Asset Auctions, LLC FID 26-0057879 to Asset Nation, Inc FID 94-3345105.
1. Amount of additional funds: No additional funds are necessary to modify the pending option contracts.
2. Reason additional needs were not foreseen: The current supplier merged with another company and the State term Contract RS908507was amended to extend the contract one additional year.
3. Reason other procurement processes not used: The same exact product is required as originally bid. No lower pricing/more attractive terms and conditions are anticipated through rebidding at this time.
4. How cost was determined: Terms and conditions are in accordance with the original agreement.
FISCAL IMPACT: No additional monies are required to modify the pending option contracts. Each agency must set aside their own funding for their estimated expenditures.
Contract Compliance No: Asset Nation, Inc, 943345105, Expires 01/27/2011
The company is not debarred according to the Excluded Party Listing System of the Federal Government.
In order to maintain an uninterrupted supply of Auction Services to City agencies using Universal Term Contracts and open Purchase Orders, this ordinance is being submitted as an emergency.
Title
To authorize and direct the Finance and Management Director to modify past, present and future contracts and purchase orders with Asset Auctions LLC, to extend the UTC contract, and to declare an emergency.
Body
WHEREAS, the Finance/Purchasing Office is in the process of ...
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