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f) Contractor shall be responsible for communicating all updates, patches, and new <br />releases/versions to Purchasing Entities. <br />g) Contractor shall provide a web -based or toll -free hotline during Normal Business Hours for <br />Purchasing Entities to report software problems or answer software related questions. <br />4.5. Purchase, Lease, and Rental Programs <br />4.5.1. Contractor shall offer the following acquisition methods: <br />Financial Vehicle <br />Standard Terms Offered <br />Purchase <br />N.!A <br />Fair Market Value Lease <br />12 18 24, 36,48 and 60 months <br />$1 Buyout Lease <br />Straight Lease <br />Cancellable Rental <br />Short -Term Lease <br />12 months <br />4.5.2. All Products on Contractor's Price List may be purchased, leased or rented, either as a packaged - <br />deal, or stand-alone item. <br />4.5.3. Contractor shall also offer 72 and 84-month lease and rental rates for Group C Devices only. <br />4.5.4. Equipment Trade -In <br />a) A Purchasing Entity shall have the option, at the Contractors sole discretion, and based upon <br />Participating State or Entity regulations and laws, and Purchasing Entity policies, to do an <br />Equipment Trade -In, when placing a purchase, lease or rental Order. <br />b) The value for the Equipment Trade -In shall be negotiated by the Purchasing Entity and the <br />Contractor, and shall not include any disposal or shipping fees. <br />4.5.5. Lease and Rental Rates <br />a) The rate for any lease or rental shall remain fixed throughout the Initial Lease or Rental Term. <br />b) Equipment Payments for Renewal Terms shall never exceed Master Agreement pricing. <br />c) If a Purchasing Entity enters into a Renewal Term, then the Equipment Payment will be subject <br />to the lease and rental rates listed in the most recent Price List(s) posted on the NASPO <br />ValuePoint website. <br />d) Contractor may update lease and rental rates on a quarterly basis to allow for changes in the <br />financial market. The rates must be indexed against the US Daily Treasury Yield Curve Rates, <br />or something similar, and must be the rate in effect at the end of each calendar quarter. Refer to <br />httos:r'/www. treasury.: govi resource-center/data hart-center.'interest- <br />ratesiPages/TextView.asox?data=yield for additional information. <br />e) Contractor shall offer Coterminous lease and rental rates to any Purchasing Entity wishing to <br />add Products to an existing lease or rental agreement. <br />4.5.6. Leasing and Rental Overview <br />a) All lease and rental programs must remain with the Contractor or Authorized Dealers through <br />an in-house leasing program, or through the financial branch or subsidiary of the Contractor. In <br />addition, Contractor and their Authorized Dealers may use Third Party leasing companies, but <br />Page 33 <br />Copiers and Managed Print Services - RFP.NP-16-001, N2P gPW &jester Agreement Terms and Conditions, CMS R 140603 <br />