Posted Date : May 06,2019
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : BANKING-1436
Government Authority located in Block Island, Rhode Island; USA based organization looking for expert vendor for banking services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to banking services for the purpose of obtaining a full range of depository and banking services at a competitive price to the government authority located in Block Island, RI.
- Develop an enhanced experience for end customers of the City
- Enhance system stability.
- The applicant must be recognized as a qualified public depository according to the
terms of the General Laws of the State.
- The bank must be a member of the Federal Reserve System and insured by the Federal Deposit Insurance Corporation.
- The bank must offer to fully collateralize all deposits in excess of the FDIC limit. The Bank must be able to provide eligible collateral with an adjusted market value equal to or greater than the amount of the Trust's uninsured deposits.
- The bank must have a minimum of five years' experience providing municipal banking services and must be rated by a nationally recognized rating agency.
- The banking institution must have a local agent reasonably accessible to serve as a liaison with the Trust.
- The BANK must provide evidence of its financial strength. At minimum, the BANK should provide annual reports, including a complete set of audited financial statements, auditor’s opinion, and notes to the financial statements for the last two years, as well as quarterly financial reports for the current fiscal year. If the Bank is a subsidiary of a larger organization, this information should be included for both the parent and offering entities. Applicants must disclose any adverse audit findings, outstanding restrictions or sanctions imposed by federal or state regulators, or unresolved issues of a similar nature.
- Normal, FDIC insured demand deposit account through which all deposits are made, checks will be written, and ACH/wire transfers will be initiated.
- Deposits consisting of cash, coin and checks are made daily. These deposits are primarily being mailed via USPS. Other receipts may include wire transfers, miscellaneous electronic credits, and internal transfers.
- The bank must provide electronic notification of any deposit overages or shortages as soon as practicable. Such notification should include full identification to enable BILT to trace the deposit to the originating department.
- The bank shall provide, at no cost, printed deposit tickets and endorsement stamps per Trust’s specifications
(2) All questions must be submitted no later than May 16, 2019.
(3) Contract period will be for five years.
[C] Eligibility:
Onshore (USA Only)
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: May 23,2019
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
![]()
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : BANKING-1436
Government Authority located in Block Island, Rhode Island; USA based organization looking for expert vendor for banking services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to banking services for the purpose of obtaining a full range of depository and banking services at a competitive price to the government authority located in Block Island, RI.
- Develop an enhanced experience for end customers of the City
- Enhance system stability.
- The applicant must be recognized as a qualified public depository according to the
terms of the General Laws of the State.
- The bank must be a member of the Federal Reserve System and insured by the Federal Deposit Insurance Corporation.
- The bank must offer to fully collateralize all deposits in excess of the FDIC limit. The Bank must be able to provide eligible collateral with an adjusted market value equal to or greater than the amount of the Trust's uninsured deposits.
- The bank must have a minimum of five years' experience providing municipal banking services and must be rated by a nationally recognized rating agency.
- The banking institution must have a local agent reasonably accessible to serve as a liaison with the Trust.
- The BANK must provide evidence of its financial strength. At minimum, the BANK should provide annual reports, including a complete set of audited financial statements, auditor’s opinion, and notes to the financial statements for the last two years, as well as quarterly financial reports for the current fiscal year. If the Bank is a subsidiary of a larger organization, this information should be included for both the parent and offering entities. Applicants must disclose any adverse audit findings, outstanding restrictions or sanctions imposed by federal or state regulators, or unresolved issues of a similar nature.
- Normal, FDIC insured demand deposit account through which all deposits are made, checks will be written, and ACH/wire transfers will be initiated.
- Deposits consisting of cash, coin and checks are made daily. These deposits are primarily being mailed via USPS. Other receipts may include wire transfers, miscellaneous electronic credits, and internal transfers.
- The bank must provide electronic notification of any deposit overages or shortages as soon as practicable. Such notification should include full identification to enable BILT to trace the deposit to the originating department.
- The bank shall provide, at no cost, printed deposit tickets and endorsement stamps per Trust’s specifications
(2) All questions must be submitted no later than May 16, 2019.
(3) Contract period will be for five years.
[C] Eligibility:
Onshore (USA Only)
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: May 23,2019
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$