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PO= RT OF= PORT ANGELES

 

 

REQUEST FOR PROPOSALS

 

 

BANKING SERVICES

 

 

 

 

Submit proposals no later than

July 18, 2007=

To the Port = of Port Angeles office listed below.<= /p>

 

 

Address to:

William R. James

Port of Port Angeles

338 West First Street

Port Angeles, WA  98362=

 

 

Issued:  = May 18, 2007

 

 

 

 

 

 

 

1.   <= /span>INTRODUCTION

  &nbs= p;   The Port of <= st1:PlaceName w:st=3D"on">Port Angeles (“Port”) requires banking services from a qualified financial institution. The speci= fic needs are outlined in the following Request for Proposal (“RFP”= ).

The Port of Port Angele= s was established in 1923. It is located on the northern coast of the Olympic Peninsula with geographic borders coincident with those of Clallam County.  The Port’s mission is to pro= vide facilities and services required to support commerce and transportation; develop and expand economic opportunities associated with the Port’s properties; and to promote and encourage industrial, commercial, and recreational development in a manner which will enhance the quality of life within the Port District.

  &nb= sp; In addition to operating several marine terminals, the Port also operates two airports – one an international and the other a general aviation facility.  The Port a= lso manages a public log handling facility and two marinas. The Port also manag= es multiple industrial property sites.

 

2.0<= span style=3D'mso-tab-count:1'> MINIMUM QUALIFICATIONS OF FINANCIAL INSTITUTION

  &nbs= p;   2.1 The financial institution must be a Federal chartered or State of Washington chart= ered banking institution. If the headquarters of the responding firm is not loca= ted within Clallam County limits, a branch office of the responding firm must be located within Clallam County and must be able to offer t= he full range of banking services required by this Request for Proposal.<= /o:p>

2.2 The financial institution must be approved by the Washington Public Deposit Protection Commission as a qualified public depository. The qualified designation shall remain in effect for the duration of the contract period.=

2.3 The financial institution shall be insured by the Federal Deposit Insurance Corporation (= FDIC).

 

3.0 SCOPE OF WORK -   Required Banking Services

3.1 = Account Maintenance - The Port ut= ilizes the following accounts:

 

3.1.1   General account. This account is used to conduct the Port’s major treasury operations:  investment portfo= lio transactions, check activity, direct deposit payroll, debt service payments, ACH activity, etc. 

3.1.2   Holding (Savings) account.  This accou= nt is used to conduct the Port’s investment portfolio transactions and to c= lear debt service obligations. The current Market Rate Savings Account pays inte= rest at a minimal level.  

3.1.3   The Port will require two separate zero-balance accounts for processing claims = and payroll checks.  These “zero-balance” accounts should be cleared against the general account.

3.1.4   Advance travel account established pursuant to RCW 42.24.120 in the amount of $3000= .

3.1.5   Incidental account established pursuant to RCW 53.36.060 in the amount of $2500.<= /o:p>

 

 

 

 

 

3.2 = Account Statements

3.2.1  &nbs= p;  The Port requires month-end statements of transactions for each account by the = 7th working day of the following month. The bank is also to provide an account activity analysis of each account. The account analysis is to include, but = may not be limited to:

  • = Ledger balance
  • = Collected balances
  • = Detail of adjustments
  • = Reserve requirement
  • = Credits/debits
  • = Detail of services and related costs
  • = Total cost of services
  • Earnings allowan= ce

3.2.2  &nbs= p;  All canceled checks will be returned to the Port in numerical order. The bank w= ill provide statements to the Washington State Auditors upon request.

3.2.3  &nbs= p;  Identify and submit samples of reports (e.g. analysis and bank statements, on-line reporting sample reports, etc.).

3.2.4  &nbs= p;  Is your bank willing/able to develop customized reports? If so, provide pricing information on the Proposal Cost Sheet.

 

3.3 Account Earnings

 

3.3.1  = ;   The Port desires to earn maximum value on its funds.

      3.3.2     Identify the proposed (if any) compensation method and formulas: (compensating balan= ces, straight fees, other method or combination thereof).

3.3.3  = ;   Describe the bank’s proposal to insure maximum earnings on idle funds in the Port’s checking accounts at the end of the day. 

3.3.4  = ;   How is the earnings allowance on collected balances calculated?

3.3.5  = ;   Describe the interval/time frame proposed to pay any additional fees not offset by service charge credit (i.e. monthly, quarterly, etc.) and to what extent the service charge credit/debit from one period can be carried forward to the n= ext period.

3.3.6  = ;   What is the policy regarding negative collected balances? Identify the rate char= ged on negative collected balances.

 

3.4 Check Services

 

3.4.1  = ;   The financial institution shall accept, return and give credit for stopped, voi= ded and canceled checks.

3.4.2  = ;   The Port will provide for the printing of checks at their own expense. The bank will be required to provide other banking supplies (e.g. security bank bags, encoded deposit slips, endorsement stamps, etc.) The cost of such supplies shall be charged to the Port’s account. The bank shall furnish the Po= rt with additional checking accounts as needed. Indicate any additional fees associated with these additional checking accounts on the Proposal Cost She= et.

 

3.5 Collected Funds Sweep

 

The Port desires to structure its investment, deposit and check redemption activity so that daily (at the clo= se of the business day) the Port can invest all collected funds into an overni= ght investment. The daily collected balance remaining in the account after the day’s deposits, disbursements and reserve requirements have been calculated will automatically receive an earnings allowance for the Port un= til the next banking day. In the unanticipated event that the Port makes an err= or resulting in a negative collected balance after posting of the Port’s daily activity, the Port will pay the financial institution’s uncolle= cted charge. The collected balance will be invested under the provisions of a ma= ster agreement securing the Port’s right to investment collateral. Other options will be considered as long as the Port’s rights are secured a= nd the options are in compliance with allowable investments for ports in the S= tate of Washington.

 

3.6 Delivery and Deposit Services

 

3.6.1     The bank shall specify delivery services available such as messenger or armored= car services and the associated costs per location. Ideally, the Port requests messenger service to and from the Port a minimum of o= nce each working day by 3 pm. The messenger will pickup all checks processed for deposit into the primary bank account.

3.6.2  = ;   Describe your delivery service and identify your fee schedule on the Propos= al Cost Sheet.

3.6.3  = ;   The bank shall provide disposable deposit bags as requested by the Port. The ba= nk may receive direct payments or deposits to Port accounts other than from the Port. In these instances the bank shall provide the Port, on the next banki= ng day, a receipt of the transaction. The bank shall automatically present (reprocess) returned deposited items a second t= ime. The bank will confirm deposits on returned deposit slip.<= /p>

 

3.7 Direct Payroll Deposit=

 

3.7.1  = ;   The Port may in the future, provide employees with the option of direct deposit= of payroll checks to the institution of their choice.  If the Port implements such a proc= edure, when will funds be available to employees?

3.7.2 <= span style=3D'mso-tab-count:1'>    Specify the lead ti= me that your bank requires.  The = Port is interested in the minimum lead time necessary. The bank should specify h= ow many days and what time of day prior to the day of deposit that your bank requires direct deposit information.

 

3.8 Investment Services/Safekeeping

 

3.8.1  = ;   Investment activities of the Port are not related to the appointment of a bank to prov= ide banking services. The bank must provide the Port with the means to conduct = its investment activity, including but not limited to providing wire and safekeeping services if requested.

 

 

3.8.2  &nbs= p;  The bank shall be able to provide the following services:

3.8.2.1 Safekeeping the Port’s securities and issuing a receipt for each security held in safekeeping.

3.8.2.2 Paying for securities purchased by the Port on a payment versus delivery system through the Federal Reserve.

3.8.2.3 Delivering securities sold by the Port on a payment versus delivery system through the Federal Reserve.

3.8.2.4 Collecting int= erest on its securities and depositing the interest in the Port’s account.<= o:p>

3.8.2.5 Monthly statem= ents summarizing all securities owned by the Port that are held in safekeeping. =

3.8.3  &nbs= p;  The Port may invest with the State of Washington Local Government Investment Pool. These investmen= ts may involve a transaction with the pool on a daily basis. The bank will be required to send and receive funds from the pool.

3.8.4 <= span style=3D'mso-tab-count:1'>    Describe your safek= eeping procedures and identify the fee structure on the Proposal Cost Sheet. =

 

3.9 On-line Banking Transactions

 

3.9.1  = ;   The bank shall provide on line account balance= and activity information for all Port bank accounts, to include:

3.9.1.1 Ability to vie= w and download transaction detail of all Port accounts 

3.9.1.2 Ability to transfer/upload files for positive pay plus daily transaction reports<= /o:p>

3.9.1.3 Ability to transfer/upload files

3.9.1.4 Ability to rec= eive account reconciliation and analysis data on-line

3.9.1.5 Ability to ret= rieve and download current and prior period monthly statements on-line=

3.9.1.6 Ability to ini= tiate on-line banking transactions (e.g. ACH, wires, stop payments, transfer fund= s to accounts at other banks)

3.9.2  = ;   Data Equipment Compatibility

The Port relies on on-line transactions and need= s to ensure equipment and data compatibility. Provide the specifications needed = for wire transfers, ACH debit /credit, balance reporting, etc. Identify any cos= ts associated with automated data and equipment on the Proposal Cost Sheet.

 

3.10 Overdraft Protection<= /p>

The bank shall provide the Port with overdraft protection including daylight overdrafts. The bank will honor all demands u= pon the Port’s accounts including outgoing wire instructions by the Port.= In the proposal, the bank shall state the cost of providing the overdraft protection, including (if used) a benchmark from which the bank will determine= the interest to be charged on overdrafts, and current rates. =

 

      =

      3.11 Wire Transfer Services

3.11.1 &nbs= p; The bank shall be required to provide wire tra= nsfer services for transferring money to other institutions, along with appropria= te security levels for wire transfer initiations and approvals. Wire service credits and debit notices shall be deliver= ed to the Port each day.

3.11.2 &nbs= p; Describe security procedures and cut-off time for same day transactions.

 

3.12= Escrow Agent Services

The Port shall require escrow agent services to administer and maintain retainage deposits from contractors who contract for public works projects in accordance with Revised Code of Washington 60.28.0= 10.

 

      3.13 Option= al Services

The bank may specify other services it can provi= de to the Port = of Port Angeles. Provide a brief description and anticipated cost of these optional services. See Proposal C= ost Sheet. Indicate the suggested optional service(s) and associated cost(s).

 

4.0 CONTRACT PERIOD

 

The period of performance of the approved and aw= arded contract shall be for an initial three (3) year period with two (2), one (1) year renewal options.

 

5.0.= SUBMITTAL REQUIREMENTS / EVALUATION CR= ITERIA

 

5.1 The submittals shall be evaluated on the completeness and quality of content as described below.  Only those b= anks who supply complete information as required by this Request for Proposal wi= ll be considered for evaluation. One page is considered to be one side of a st= andard 8-1/2” x 11” piece of paper.

 

5.2 Cover= Letter (required, worth 0 points)

5.2.1 Maximum number of pages shall be one (1). =

5.2.2 The cover letter shall specifically stipul= ate that the bank accepts all terms and conditions contained in this Request for Proposal and the Port of Port Angeles mod= el contract for professional services (Attachment #2). Suggestions for non-substantive modifications may be made, but the acceptance may not be conditional upon such modifications.

5.2.3 The letter shall name the persons authoriz= ed to represent the bank in any negotiations and the name of the person(s) author= ized to sign any resultant contract. The letter shall be signed by an authorized representative of the bank.

 

 

5.3 Cost (worth 50 points)

5.3.1 The Port anticipates that proposed banking services will be compensated on a fee basis. All banks must indicate on the Proposal Cost Sheet your monthly fee per service and the total monthly fee = as indicated.

5.3.2 The Port is also willing to consider other proposed compensation methods (e.g. compensating balances, straight fees, o= ther method or combination thereof). See Item 3.3.2 above. Indicate on a separate sheet of paper your proposed compensation methods. The proposed compensation methods are subject to negotiation.

5.4 Propo= sal Methodology and Approach (worth 20 points)

In this Section, the bank will outline their methodology to accomplish the requirements outlined in Section 3 of this RF= P. Specifically, this Section should address:&= nbsp;

        &= nbsp;   -     Bank’s understanding of project objectives

            -     Outline of work approach and task-specific methodology = ;                        &= nbsp;  

            -     Quality assurance review responsibility and procedures

5.5 Firm Background, Qualifications, and General Experience (worth 20 points)

This criterion relates to the firm’s capabilities and resources in doing the work contained in this RFP. 

            -     Provide a brief descrip= tion of your firm, its size, and location of current office facilities

            -     Provide at least three verifiable references (company name, address, phone, point of contact with current telephone number if different that company phone).

            -     Similar projects,= by type and location, which have been performed within the last five years, th= at best characterize work quality.

            -     Similar projects = the firm has done with other government agencies, especially ports.<= /span>

            -     Internal procedur= es and policies associated or related to work quality (quality control, quality assurance program).

            -     Management and organizational structure (Provide a current organizational chart of the firm including the organizational structure of the proposed branch/firm location= that will be supporting the Port under this proposal)

            -   Name of audit firm(s) used i= n the last five (5) years. Include a current point of contact, telephone and addr= ess information.

            -     Financial stateme= nts from the last two (2) fiscal years

5.6 Exper= ience and Education of Assigned Staff (worth 10 points)

The minimum qualifications of the staff assigned= work under this contract will be a minimum of five years experience performing t= he types of duties required by the specific project. The response shall include the following:

  &nbs= p;   -     Provide resumes o= f key personnel

  &nbs= p;   -     Professional educ= ation of assigned staff

  &nbs= p;   -     Experience of ass= igned staff

  &nbs= p;   -     Assigned staff experience on similar or related work of the type required for this contrac= t

 

6.0 = = GENERAL PROPOSAL INSTRUCTIONS

6.1 Copies - Respondents must submit one (1) or= iginal and three (3) copies.

6.2 Submission - Proposals must be enclosed in a se= aled envelope and mailed or delivered to the Port of Port Angele= s, Attention: William James, Treasurer, 338 West First Street, Port Angeles, WA 98362. The outside of the envelope shall plainly identify the subject of the propo= sal and the name and address of the firm. The proposal shall become part of exh= ibit “B” of the final contract. The Port reserves the right to rejec= t any or all proposals and is not liable for any costs incurred by the firm in preparation or presentation of its proposal. All proposals will become part= of the public file, and subject to public disclosure, without obligation to th= e Port of Port Angeles. Electronic proposals= shall not be accepted.

6.3 Late Proposals - Proposals received after the scheduled closing time for filing will not be accepted.<= o:p>

6.4 Request For Proposal (RFP) Clarification - Respondents who request a clarification of the RFP requirements must submit questions in writing to the Port of Port Angele= s, Attention: William R. James, Treasurer.&nb= sp; Written questions must be received by the Port of Port Angele= s no later than June 18, 2007. The Port may issue a response, in the form of = an addendum to the RFP, if a substantive clarification is in order. The addend= um will be posted on the Port’s Web Site at the following URL: http://www.portofpa.com

6.5 Oral Clarification - Oral instructions or information concerning the RFP giv= en out by Port of Port Angeles agents to prospective respondents shall not bind the Port and may be cause for disqualification.<= o:p>

6.6 Cost of Proposal – Thi= s RFP does not commit the Port to pay any costs incurred by any respondents in the submission of a proposal or in making studies or designs for the preparation thereof, or for procuring or contracting for the services to be furnished u= nder the RFP.

6.7 Conflict of Interest –= The Port and respondent filing a proposal hereby both certify that no officer, agent or employee of the Port, who has pecuniary interest in this RFP, shal= l  participate in any manner in the preparation of this RFP or evaluation of responses to this RFP, or in the contract negotiations; furthermore, the respondent certifies that the propo= sal is made in good faith without fraud, collusion or connection of any kind wi= th any other respondent of the same call for proposals, and that the responden= t is competing solely in its own behalf without connection with or obligation to, any undisclosed person or firm. No Port commissioner or employee shall participate in the authorization, approval, or award of a banking services contract to a respondent in which he or she is beneficially interested.

6.8 Investigation – The Consultant shall make all investigations necessary to inform it regarding t= he service(s) to be performed under this RFP.

6.9 Rejection of Proposals ̵= 1; The Port reserves the right to reject any or all responses to the RFP without incurring any liability thereto.

6.10= Notice of Assignment – The = Port of Port Angeles= will not recognize any assignment or transfer of any interest in the contra= ct without written notice to and written acceptance by the Executive Director = of the Port = of Port Angeles.

6.11 Public Disclosure of Proposals - <= /span>Any information provided to the Port pursuant to= this RFP is subject to public disclosure pursuant to public records law.  Any information that is deemed by = the Respondent to be exempt from disclosure should be plainly marked and separa= ted from the remainder of the proposal. &n= bsp; 

6.12 Ownership of Documents – <= span style=3D'font-size:11.0pt'>Unless otherwise provided, all materials produced under this contract shall be considered “works for hire” as defined by the U.S. Copyright Act and shall= be owned by the Port of Port Angeles. (S= ee “Copyright Provisions”, General Terms and Conditions of the Port of Port Angeles model Professional Se= rvices Contract, Attachment #2.)

6.13= Oral Presentations - The Port may co= nduct discussions with one or more firms and shall negotiate a contract with the = most qualified firm for the services at a price which the Port determines is fair and reasonable. If the Port is unable to negotiate a satisfactory contract = with the firm, the Port shall formally terminate negotiations and shall select o= ther firm(s) to conduct negotiations.  

 

7.0 ATTACHMENTS

7.1 Attachment #1 – Cost Sheet<= /span>

7.2 Attachment #2 – Port of Port Angele= s Model Professional Services Contract (subject to modification by the Port prior to mutual acceptance of the banking services contract)

7.3 Attachment #3 – Port of Port Angele= s Financial Statement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attachment #1<= /b>

Proposal = Cost Sheet

Banking S= ervices

 

1.0 The Port anticipates that proposed banking services will be compensated on a fee basis.  The Port is also willi= ng to consider other proposed compensation methods (e.g. compensating balances, straight fees, other method or combination thereof). See Item 3.3.2 above.

2.0 Complete all items on= the cost sheet and attach any supplemental material you wish. If your financial institution does not or cannot provide a particular service, please indicat= e. The Port retains the right to select any and/or all items listed in this questionnaire as services to be provided by the financial institution recei= ving the contract. Statistics have been included in the proposal documents in or= der to provide as much information as possible to qualified financial instituti= ons. The information is, to the best of our knowledge, a true representation of = the Port’s historical experience, but the Port is not representing that t= hese statistics will necessarily hold true for the future.

3.0 The undersigned hereby declares that h= e/she has read the above RFP, understands the General Terms and Conditions and has determined all situations affecting the services as required by the Scope of Work.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Por= t of Port Angeles

Proposal Cost Sheet

Banking Services

 

Des= cription

 

Uni= t

Pri= ce

Ave= rage

Mon= thly

Act= ivity

Mon= thly Cost

 

Com= ments

1. = Cash deposits – units

 

8,698

 

 

2. = Monthly deposits – dollars

 

284,667

 

 

        Deposits – general

 

283,629

 

 

        Deposits – revolving

 

1,039

 

 

3. = Total accounts

 

4

 

 

4. = Zero Balance Accounts

 

2

 

 

5. = Total checks – All Accounts

 

249

 

 

6. = Account Statements - postage

 

4

 

 

7. = Deposit Slip Orders

 

.33

 

 

8. = Deposit Items – on Current Service Provider