REQUEST FOR PROPOSALS
BANKING SERVICES
Submit proposals no later than
July 18, 2007=
To
the
Address to:
William R. James
Issued: = May 18, 2007
1. <=
/span>INTRODUCTION
&nbs=
p; The
The
&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
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.
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:
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
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
3.6.2 =
;
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.
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
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
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
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
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
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.
- 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
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
6.5 Oral
Clarification - Oral instructions or information concerning the RFP giv=
en
out by
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 =
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
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
7.2 Attachment #2 –
7.3 Attachment #3 –
Attachment #1
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.
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 |
|
|
|
|
|
283,629 |
|
|
|
|
|
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 |