This invention relates generally to improved chemical formulations and methods of use that provide for the disinfection of microorganisms and biological contaminants as well as the chemical neutralization of toxic materials (toxants) present on selected objects and surfaces. The invention relates more specifically to accelerated hydrogen peroxide based formulations having a secondary biocidal agent present and which demonstrate both desirous enhanced long term storage stability as well as efficacy of action at time of use without requiring the mixing or combination of the separated components immediate prior to use.