Following a competitive request for proposals, the Virginia Department of the Treasury recently announced Bingham Arbitrage Rebate Services, Inc. was again awarded an optional statewide contract to provide arbitrage rebate calculation services for the State’s public entities participating in Virginia’s State Non-Arbitrage Program (SNAP).
Kim Hoyt, President of Bingham Arbitrage, stated “We at Bingham are thrilled to continue our partnership with Virginia SNAP as their trusted arbitrage rebate provider! With decades of experience in the industry, our team has a deep understanding of the regulations and reporting requirements unique to Virginia. We are excited to continue working in our home state and to provide reliable and accurate calculations that help support the essential services the Virginia Treasury provides to their constituents.”
Virginia SNAP participants have ready access to the new contract which was effective beginning May 1, 2023. The Commonwealth of Virginia, counties, cities, and towns in the Commonwealth, and their agencies, institutions and authorities (“Virginia Issuers” or “Issuers”) are all eligible to invest in the Program.
The Treasury Department’s announcement can be found at https://trs.virginia.gov/Bond-Finance/Arbitrage-Rebate-Calculation-Services. If you have questions about arbitrage rebate calculations, don’t hesitate to call a Bingham professional at 804-288-5312 or send an email to [email protected] for answers.