Term Depreciation Residual 36 2.09% 25% 48 1.67% 20% 60 1.33% 20% The Judicial Council reserves the right to extend the initial term of the Master Agreement for up to one year by written notice to the successful proposer prior to the expiration of the Master Agreement. Thirty (30) days prior to the expiration or termination of any lease under the Master Agreement, the successful proposer must supply end-of-term balance and estimated wholesale value of the leased vehicle to the JBE at the end of the 36-, 48-, or 60-month term. Thirty (30) days prior to the expiration or termination of leases under the Master Agreement, the successful proposer must contact the Judicial Council or other JBE to determine whether the leased vehicles should be returned to the same place where delivery was accomplished or to another destination mutually agreeable to the parties. The successful proposer must provide a written inspection form that is signed and by both the JBE and the proposer at the time the leased vehicle is returned to the successful proposer upon termination or expiration of the lease. The successful proposer will pay the JBE the excess of the leased vehicle sales price over any remaining amount owed on the open-ended lease for that vehicle. The JBE will pay the successful proposer the difference between the sale price of the leased vehicle and any remaining amount owed on the open-ended lease for that vehicle. The successful proposer must give the Judicial Council and other JBEs access to all final sales data. The Judicial Council and other JBEs, or their authorized representatives, must have the right to audit as needed. Any JBE may choose to extend the lease term of the vehicle by an additional period of time mutually agreeable to each party 30 days prior to the expiration of termination of the lease. The successful proposer must provide to the JBE adjustments, if any, to the amount of the lease payment along with new reduced book value at the end of the extension period. Pricing must be for the entire duration of the lease entered into under the Master Agreement. Pricing for the lease shall include all applicable charges or costs, including but not limited to costs associated with the preparation of all paperwork necessary for vehicle titles, licenses, delivery and any other miscellaneous fees. Leased vehicles shall be for the most current model year as determined by the date on which the leased vehicles are requested by a JBE.
Term Depreciation Residual 36 2.09% 25% 48 1.67% 20% 60 1.33% 20% The Judicial Council reserves the right to extend the initial term of the Master Agreement for up to one year by written notice to the successful proposer prior to the expiration of the Master Agreement. Thirty (30) days prior to the expiration or termination of any lease under the Master Agreement, the successful proposer must supply end-of-term balance and estimated wholesale value of the leased vehicle to the JBE at the end of the 36-, 48-, or 60-month term. Thirty (30) days prior to the expiration or termination of leases under the Master Agreement, the successful proposer must contact the Judicial Council or other JBE to determine whether the leased vehicles should be returned to the same place where delivery was accomplished or to another destination mutually agreeable to the parties. The successful proposer must provide a written inspection form that is signed and by both the JBE and the proposer at the time the leased vehicle is returned to the successful proposer upon termination or expiration of the lease. The successful proposer will pay the JBE the excess of the leased vehicle sales price over any remaining amount owed on the open-ended lease for that vehicle. The JBE will pay the successful proposer the difference between the sale price of the leased vehicle and any remaining amount owed on the open-ended lease for that vehicle. The successful proposer must give the Judicial Council and other JBEs access to all final sales data. The Judicial Council and other JBEs, or their authorized representatives, must have the right to audit as needed. Any JBE may choose to extend the lease term of the vehicle by an additional period of time mutually agreeable to each party 30 days prior to the expiration of termination of the lease. The successful proposer must provide to the JBE adjustments, if any, to the amount of the lease payment along with new reduced book value at the end of the extension period. Pricing must be for the entire duration of the lease entered into under the Master Agreement. Pricing for the lease shall include all applicable charges or costs, including but not limited to costs associated with the preparation of all paperwork necessary for vehicle titles, licenses, delivery and any other miscellaneous fees. Leased vehicles shall be for the most current model year as determined by the date on which the leased vehicles are requested by a JBE.