Contract Information

Summary

Agency Name: DEPARTMENT OF FINANCIAL SERVICES	Agency Contract ID: UP025
Long Title: Appraisal Services	Vendor Name: NEW CASTLE ENTERPRISES INC
Total Contract Amount: $1,440,000.00	Total Budgetary Amount: $1,440,000.00
Total Payment To Date: $353,326.00	Date of Execution: 05/23/2025
General Description: The purpose of this contract is to secure appraisal services for commercial value items remitted to the Division of Unclaimed Property under F.S. 717. The contractor is responsible for authenticating and providing a detailed description of commercial value items, determining a minimum/reserve price for these items should they proceed to auction, as well as providing a replacement value for items that have been claimed and are being returned to the clamant. Note: Hourly rate for initial 5 year period: $300.00; renewal period $350.00.

Details
Deliverables
Payments
Documents
Audits

Main Information

Agency Contract ID: UP025

FLAIR Contract ID: D2528

Short Title: appraisal

Long Title: Appraisal Services

Contract Type: Standard Two Party Agreement by Statute

Contract Status: Active

Date of Execution: 05/23/2025

Date of Beginning: 05/23/2025

Original End Date: 05/22/2030

New Ending Date:

Agency Service Area: UP

Statutory Authority: chapter 717, F.S.

Contract Involves State or Federal Financial Assistance: No

Recipient Type:

Provide for Administrative Cost: No

Provide for Periodic Increase: No

Procurement Information

Authorized Advanced Payment: No

Method of Procurement: Agency negotiated after receiving fewer than two responsive bids, proposals, or replies to a competitive solicitation [s. 287.057(6), F.S.]

State Term Contract ID:

Contract’s Exemption Justification:

Agency Reference Number: UP

Business Case Study Done: No

Legal Challenges to Procurement: No

Outsourcing / Capital Improvements

Was the Contracted Function Previously Performed by the State: No

Was the Contracted Function Considered for Insourcing back to the State: No

Did the Vendor Make Capital Improvements on State Property: No

Budget Information

Original Contract Amount: $1,440,000.00

Total Contract Amount: $1,440,000.00

Total Recurring Budgetary Amount: $0.00

Total Non-Recurring Budgetary Amount: $1,440,000.00

Total Budgetary Amount: $1,440,000.00

Total Unfunded Amount: $0.00

As of Date: 6/5/2025

Download Budget Information

No Recurring Budgetary records found for this contract.

Non-Recurring Budgetary Amount	Account Code	Fiscal Year Effective Date	FY	Cost Accumulator	Agency Amendment Reference
$1,440,000.00	43-71-2-007001-43200200-00-100777-00	07/01/2024	2024-2025

Contract Change

Download Contract Change

Change Type	Amendment Amount	Agency Amendment Reference	Change Description	Amendment Effective Date	Amendment Execution Date	New Ending Date
Amendment	$0.00	A1	Section 9.b. of SOW	08/22/2025	08/22/2025

Vendor

Download Vendor

Name Line 1	Name Line 2	City State Zip	Minority Vendor Designation
NEW CASTLE ENTERPRISES INC		WEST PALM BEACH FL 334070000	Hispanic, Certified

CFDA

No CFDA Codes found for the contract.

CSFA

No CSFA Codes found for the contract.

Expand All Deliverables Download Deliverables

Deliverable Number

Commodity/Service Type

Major Deliverable

Method of Payment

Market research

As assigned by the Vault Supervisor, the Contractor shall establish a fair replacement value for the...

Fixed Fee / Unit Rate

Major Deliverable: As assigned by the Vault Supervisor, the Contractor shall establish a fair replacement value for the purpose of providing a declared value of those claimed items that will be shipped to the rightful owner or heir.

Deliverable Price: $300.00

Non Price Justification:

Performance Metrics: The Contractor will be responsible for identifying and providing a replacement value for claimed items in the Department’s UPMIS when assigned by the Vault Supervisor. The Contractor will provide a basic identifying description for the claimed items by the completion date agreed upon by the Vault Supervisor and the Contractor. The Contractor shall include appraisal services for identifying and establishing a replacement value of claimed items and appraisal services for identifying and establishing a minimum auction reserve value in the same monthly invoice. The monthly invoice must be accompanied by a time sheet and a log of items appraised during the invoiced time period. The invoice must be submitted to the Division’s Contract Manager within five (5) Business Days of the last day of the previous month for services being invoiced

Financial Consequences: Failure to complete the appraisals, including entering the description and reserve values in the Division's UPMIS, by the assigned completion date will result in the reduction of the corresponding invoice by $100 per each additional day needed to complete the assigned appraisals. Failure to submit a log of the items with appraisal dates and corresponding timesheet with the invoice will result in the rejection of the invoice. An invoice can be resubmitted for consideration of payment with the required documentation. Failure to properly identify an item and provide an accurate description, reserve value, and replacement value that directly results in a loss in the proceeds received for an item at auction, or a lack of coverage of an item lost or damaged in shipping will result in the Contractor compensating the Department for the loss with the purpose of making the owner or the item whole.

Source Documentation Page Reference: pg 4, attachment 2

Deliverable Number:

Market research

As assigned by the Vault Supervisor, the Contractor will evaluate items of commercial value and prov...

Fixed Fee / Unit Rate

Major Deliverable: As assigned by the Vault Supervisor, the Contractor will evaluate items of commercial value and provide an accurate description of the item as well as provide an estimated minimum bid value in terms of a beginning minimum reserve auction price for each appraised item to facilitate the sale of tangible property that remains unclaimed.

Deliverable Price: $300.00

Non Price Justification:

Performance Metrics: The Contractor will be responsible for identifying and appraising inventoried items in the Department’s Unclaimed Property Management Information System (UPMIS) when assigned to the Contractor by the Vault Supervisor. The Contractor will provide each item a basic identifying description by the appraisal assignment’s expected completion date, which will be established between the Vault Supervisor, or his or her designee, and the Contractor. The goal of the Division is to have items appraised within 18 months of receipt to allow for the Division’s six (6) month auction preparation process. The Contractor’s appraisal description and pricing must be entered by the Contractor into the Department’s UPMIS or as otherwise instructed. The Contractor will provide a dated log with the Division’s property ID and bag ID for each item appraised to submit with a monthly invoice. The Contractor can request a due date extension for illness, medically required absences, family emergencies, or other similar absences preventing the Contractor from completing an appraisal assignment by the expected completion date. The request must be made in writing in advance of the expected due date if an absence is anticipated or as soon as possible in unexpected or emergency situations. The extension must be approved in writing by the Contract Manager. The Contractor will keep a time sheet documenting dates and times the Contractor and/or its sub-contractor(s) provided appraisal services. The Contractor shall submit an invoice for services rendered, accompanied by a time sheet and a log of items appraised during the invoiced time period within five (5) Business Days of the last day of the month for services being invoiced.

Financial Consequences: Failure to complete the appraisals, including entering the description and reserve values in the Division's UPMIS by the assigned completion date, will result in the reduction of the corresponding invoice by $25 per each additional day needed to complete the assigned appraisals. Failure to submit a log of the items with appraisal dates and corresponding timesheet with the invoice will result in the rejection of the invoice. An invoice can be resubmitted for consideration of payment with the required documentation.

Source Documentation Page Reference: pg 2-3, attachment 2

Deliverable Number:

Displaying 1 to 2 of 2

Payments are also referred to as expenditures (creating or incurring a legal obligation to disburse money) or disbursements (the payment of expenditures). Payments include disbursements and accounting adjustments made on a contract. Payments are always positive amounts while accounting adjustments may be positive or negative depending on the type of adjustment.

Payment Details

Expand All Payments Download Payments

"Date" in the listing below indicates the date the payment voucher was recorded in the system, not the date the payment was issued.

Fiscal Year

Total Amount

2025-2026

$332,581.00

Statewide Document #

Agency Document #

Vendor Name

Amount

FID

IBI

CAT

CFI

Date

D6000555976

V0118440001

NEW CASTLE ENTERPRISES INC

$29,211.00

007001

43200200

100777

06/03/2026

D6000510005

V0109400001

NEW CASTLE ENTERPRISES INC

$26,397.00

007001

43200200

100777

05/07/2026

D6000455523

V0098510001

NEW CASTLE ENTERPRISES INC

$31,008.00

007001

43200200

100777

04/07/2026

D6000403121

V0087550001

NEW CASTLE ENTERPRISES INC

$21,870.00

007001

43200200

100777

03/06/2026

D6000353008

V0077810001

NEW CASTLE ENTERPRISES INC

$35,991.00

007001

43200200

100777

02/05/2026

D6000306126

V0067390001

NEW CASTLE ENTERPRISES INC

$31,893.00

007001

43200200

100777

01/08/2026

D6000258584

V0058040001

NEW CASTLE ENTERPRISES INC

$25,977.00

007001

43200200

100777

12/05/2025

D6000213740

V0047990001

NEW CASTLE ENTERPRISES INC

$39,829.00

007001

43200200

100777

11/05/2025

D6000161009

V0037760001

NEW CASTLE ENTERPRISES INC

$21,360.00

007001

43200200

100777

10/06/2025

D6000110787

V0027270001

NEW CASTLE ENTERPRISES INC

$38,490.00

007001

43200200

100777

09/08/2025

Displaying 1 to 10 of 11

2024-2025

$20,745.00

If a payment or adjustment to a contract was made before July 1, 2012, the information may not be posted in this system.

Contract Documents

Click on the pdf icon or Agency Document Link to view the document

Document Type	Document Reference #	Executed Date	Document Add Date
Original Contract	Original Contract - D2528	05/23/2025	2/13/2026 10:12:47 AM
Procurement	Original Contract - D2528		5/23/2025 2:27:54 PM
Amendment	A1	08/22/2025	8/22/2025 11:50:27 AM

Audit results posted prior to June 30, 2012, appear in a summarized form. As of July 1, 2012, the audit reporting process was expanded to include additional questions and comments from the Bureau of Auditing. As audits are captured in electronic format, they will be posted to this system. If you are interested in seeing audit reports by Fiscal Year and Agency Action Plans, please click here to navigate to the Transparency Florida Contract Audit page.

No audits have been conducted on this contract at this time.

TestCancel

BACK TO TOP

Your session is about to expire due to inactivity in:

seconds.

Florida Department of Financial Services: F.A.C.T.S

Contract Information

Summary

Main Information

Procurement Information

Outsourcing / Capital Improvements

Budget Information

Contract Change

Vendor

CFDA

CSFA

Payment Details

Contract Documents