Bank RFP Q&A

As questions are submitted, the answers will be posted here.

06/19/2019

The following questions have been asked:

Q.  Are links acceptable in the RFP submissions for financials and call reports

A.  Yes, if you provide a USB or a link to the financials and call reports

Q.  On the summarized chart pricing of services provided, unit charges and the cost of the service is being asked for. Would we be able to get a monthly activity (estimated volume) so that the cost of service may be provided.

A.  Monthly volume activity is as follows:  130 deposits, 420 checks, 250 credit card batches.

Q. Should the accounts be interest bearing and if where can within the submission should the bid rate be placed.

A.  Yes, interest bearing accounts.  Bid rates can be included under SCOPE OF SERVICES REQUIRED, Deposit Services, Item        f.  Bid rates on interest bearing accounts.

05/27/2019

The following questions have been asked:

Q. On age 4, item 2 and Page 9, Validity of Proposal.  One says the proposal is valid for 120 days, the other says for 150 days.

A.  The RFP has been revised so that both sections reflect that the proposal must be valid for 150 days.

Q. On page 6, item 15:  Please provide a copy of the Contract Agreement that will be proposed for execution.

A. This contract will be provided by the financial institution, not the City.

Q.  Page 14, Other Services (d)-Please clarify the statement "The bank shall provide hard copy confirmations."  Are you asking for had copy confirmations of our backup procedures?

A.  Hard copies are only needed in an emergency; if the internet or banking system is down, then hard copies of information.  For further clarification, please see page 10: Backup and Emergency System.