FINANCIAL_SERVICESAPPROVED

Township of Holmdel Awards Financial Services Contract to Municipal Excess Liability Joint Insurance Fund (June 2026)

Holmdel Township approved a repayment agreement and promissory note with the Municipal Excess Liability Joint Insurance Fund for a $463,409 loan to cover a supplemental assessment owed to its prior insurer. The loan will be repaid in annual installments of $66,201.29 plus variable interest from January 1, 2027 through January 1, 2033.

Status
APPROVED
Document date
June 23, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Municipal Excess Liability Joint Insurance Fund
Agency
Township of Holmdel · NJ

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$463,409 loan, annual installments of $66,201.29 plus variable interest
Contract type
FINANCIAL_SERVICES
Contract term
January 1, 2027 – January 1, 2033
Renewal date
2033-01-01
Renewal
Repayment Agreement and Promissory Note provide for annual payments through January 1, 2033; early prepayment is allowed, and default or termination of MEL membership accelerates the remaining balance.
Document type
Minutes
Source document
Township of Holmdel Minutes Township Committee Meeting 2026-06-23

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Township of Holmdel?

Municipal Excess Liability Joint Insurance Fund was awarded this financial services contract by Township of Holmdel, as recorded on June 23, 2026. The contract value is $463,409 loan, annual installments of $66,201.29 plus variable interest.

How much is the Municipal Excess Liability Joint Insurance Fund contract with Township of Holmdel worth?

The Municipal Excess Liability Joint Insurance Fund contract with Township of Holmdel is valued at $463,409 loan, annual installments of $66,201.29 plus variable interest, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Township of Holmdel Minutes Township Committee Meeting 2026-06-23 (Minutes), dated June 23, 2026 from Township of Holmdel. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Municipal Excess Liability Joint Insurance Fund hold?

Municipal Excess Liability Joint Insurance Fund may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Municipal Excess Liability Joint Insurance Fund's profile

What is Township of Holmdel currently buying?

Explore Township of Holmdel's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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