Univest Issues Letter of Credit for Mitsubishi Development Escrow

Univest Bank and Trust Company is providing a $570,632.15 letter of credit to secure construction obligations for the Montgomeryville Mitsubishi land development project in Montgomery Township. The Township authorizes partial releases from this financial instrument as site improvements are certified complete.

Scope & details

The full contract record, as filed.

Contract amount

$570,632.15

Contract type

FINANCIAL_SERVICES

Renewal

Letter of credit remains in place, reduced as escrow releases are approved, until all conditions of the Land Development Agreement and maintenance period are satisfied.

Document type

Agenda

Source document

Montgomery Township Board of Supervisors Agenda 2026-08-10

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Montgomery?

Univest Bank and Trust Company was awarded this financial services contract by Town of Montgomery, as recorded on August 10, 2026. The contract value is $570,632.15.

How much is the Univest Bank and Trust Company contract with Town of Montgomery worth?

The Univest Bank and Trust Company contract with Town of Montgomery is valued at $570,632.15, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in Montgomery Township Board of Supervisors Agenda 2026-08-10 (Agenda), dated August 10, 2026 from Town of Montgomery. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Univest Bank and Trust Company hold?

Univest Bank and Trust Company may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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