HomeMy WebLinkAboutRFP - 8407 BANKING SERVICESRFP 8407 Banking Services Page 1 of 30
REQUEST FOR PROPOSAL
8407 BANKING SERVICES
The City of Fort Collins is requesting proposals from banks qualified under Colorado Revised
Statutes to provide banking services for municipal governments.
As part of the City’s commitment to Sustainable Purchasing, proposals submission via
email is preferred. Proposals shall be submitted in a single Microsoft Word or PDF file
under 20MB and e-mailed to: purchasing@fcgov.com. If electing to submit hard copy
proposals instead, five (5) copies, will be received at the City of Fort Collins' Purchasing
Division, 215 North Mason St., 2nd floor, Fort Collins, Colorado 80524. Proposals must be
received before 3:00 p.m. (our clock), November 14, 2016 and referenced as Proposal No.
8407. If delivered, they are to be sent to 215 North Mason Street, 2nd Floor, Fort Collins,
Colorado 80524. If mailed, the address is P.O. Box 580, Fort Collins, 80522-0580. Please
note, additional time is required for bids mailed to the PO Box to be received at the
Purchasing Office.
The City encourages all Disadvantaged Business Enterprises (DBEs) to submit proposals in
response to all requests for proposals. No individual or business will be discriminated against
on the grounds of race, color, sex, or national origin. It is the City’s policy to create a level
playing field on which DBEs can compete fairly and to ensure nondiscrimination in the award
and administration of all contracts.
Questions concerning the scope of the bid should be directed to Project Manager, Harold Hall at
(970) 221-6784 or hhall@fcgov.com.
Questions regarding bid submittal or process should be directed to Gerry Paul,
Purchasing Director at (970) 221-6779 or gspaul@fcgov.com.
All questions must be submitted in writing via email to Harold Hall , with a copy to
Gerry Paul, no later than 5:00 PM our clock on November 4, 2016. Questions received after
this deadline will not be answered.
A copy of the RFP may be obtained at www.rockymountainbidsystem.com.
The City of Fort Collins is subject to public information laws, which permit access to most
records and documents. Proprietary information in your response must be clearly identified and
will be protected to the extent legally permissible. Proposals may not be marked ‘Proprietary’ in
their entirety. All provisions of any contract resulting from this request for proposal will be
public information.
New Vendors:
The City requires new vendors receiving awards from the City to fill out and submit an IRS form
W-9 and to register for Direct Deposit (Electronic) payment. If needed, the W-9 form and the
Vendor Direct Deposit Authorization Form can be found on the City’s Purchasing website at
www.fcgov.com/purchasing under Vendor Reference Documents.
Financial Services
Purchasing Division
215 N. Mason St. 2nd Floor
PO Box 580
Fort Collins, CO 80522
970.221.6775
970.221.6707
fcgov.com/purchasing
RFP 8407 Banking Services Page 2 of 30
Sales Prohibited/Conflict of Interest: No officer, employee, or member of City Council, shall have
a financial interest in the sale to the City of any real or personal property, equipment, material,
supplies or services where such officer or employee exercises directly or indirectly any decision-
making authority concerning such sale or any supervisory authority over the services to be
rendered. This rule also applies to subcontracts with the City. Soliciting or accepting any gift,
gratuity favor, entertainment, kickback or any items of monetary value from any person who has
or is seeking to do business with the City of Fort Collins is prohibited.
Collusive or sham proposals: Any proposal deemed to be collusive or a sham proposal will be
rejected and reported to authorities as such. Your authorized signature of this proposal assures
that such proposal is genuine and is not a collusive or sham proposal.
The City of Fort Collins reserves the right to reject any and all proposals and to waive any
irregularities or informalities.
Utilization of Award by Other Agencies: The City of Fort Collins reserves the right to allow other
state and local governmental agencies, political subdivisions, and/or school districts to utilize the
resulting award under all terms and conditions specified and upon agreement by all parties.
Usage by any other entity shall not have a negative impact on the City of Fort Collins in the
current term or in any future terms.
Sustainability: Consulting firms/teams participating in the proposal are to provide an overview of
the organization’s philosophy and approach to Sustainability. In no more than one (1) page
please describe how your organization strives to be sustainable in the use of materials,
equipment, vehicles, fuel, recycling, office practices, etc. The City of Fort Collins incorporates
the Triple Bottom Line into our decision process by including economic (or financial),
environmental, and social factors in our evaluation.
The selected Service Provider shall be expected to sign the City’s standard Agreement without
revision prior to commencing Services (see sample attached to this Proposal).
Sincerely,
Gerry S. Paul
Purchasing Director
RFP 8407 Banking Services Page 3 of 30
TABLE OF CONTENTS
I. Purpose and Objectives .................................................................................................. 5
II. Background Information ................................................................................................. 5
III. Invitation to Propose ....................................................................................................... 5
IV. Minimum Requirements to Propose .............................................................................. 6
V. Proposal Meeting Calendar ............................................................................................ 6
VI. News Release .................................................................................................................. 6
VII. Proposal Submittal Instructions..................................................................................... 6
A. Submittal ..................................................................................................................... 6
B. Format ......................................................................................................................... 7
C. Implied Requirements .................................................................................................. 7
D. Required Items ............................................................................................................ 7
E. Exceptions to the Prescribed Format ........................................................................... 8
F. Proposal Term ............................................................................................................. 8
VIII. Proposal Evaluation and Selection ................................................................................ 8
A. General Evaluation Guidelines ................................................................................. 8
B. Criteria for Evaluation of Proposals ......................................................................... 8
a. Performance Standard ........................................................................................ 9
b. Acceptance Time ................................................................................................ 9
c. Contract Negotiation ........................................................................................... 9
d. Term of Contract ................................................................................................. 9
e. Commencement of Services ..............................................................................10
C. General Requirements and Specifications .............................................................10
a. Qualifications and Experience ............................................................................10
b. Collateralization Provisions ................................................................................10
c. Conversion Considerations ................................................................................10
d. Banking Supplies and Forms .............................................................................11
e. Report Formats ..................................................................................................11
f. Additional or Specific Response Items Related to General Requirements and
Specifications: ....................................................................................................11
g. Emergency Services and Disaster Recovery .....................................................11
DESCRIPTION OF CURRENT ACCOUNTS AND SERVICES BEING PROVIDED TO THE CITY ...........11
h. Overview of Current Banking Services ...............................................................12
i. Accounts and Services.......................................................................................12
RESPONSE ITEMS FOR ACCOUNTS AND SERVICES ...............................................................14
RFP 8407 Banking Services Page 4 of 30
j. Proposal for Accounts and Services...................................................................14
k. Additional or Specific Response Items Related to Accounts and Services .........14
l. Performance Indicators ......................................................................................15
m. Implementation ..................................................................................................15
D. Future Services and Enhancements .......................................................................16
a. Credit Cards. ......................................................................................................16
b. Additional Services at City Locations .................................................................16
c. Short-term Financing .........................................................................................16
d. Small Scale Financing .......................................................................................16
e. Bond Issues and Lease-Purchase Transactions ................................................16
f. Training Programs for City Employees ...............................................................16
g. Technological Advances ....................................................................................16
h. Other Enhancements .........................................................................................16
E. Attachments ..............................................................................................................17
ATTACHMENT A - CERTIFICATION BY INSTITUTIONS RESPONDING TO THE
REQUEST FOR PROPOSALS .................................................................................18
ATTACHMENT B - SERVICE PRICING FORM ........................................................19
ATTACHMENT C - PROPOSAL PREPARATION CHECKLIST ................................21
ATTACHMENT D – ARMORED CAR COURIER SERVICE STOPS .........................22
ATTACHMENT E - STANDARD SERVICES AGREEMENT (SAMPLE) ....................23
RFP 8407 Banking Services Page 5 of 30
REQUEST FOR PROPOSAL
8407 BANKING SERVICES
I. PURPOSE AND OBJECTIVES
The City of Fort Collins and its Finance Department (hereafter referred to as the City) is
seeking proposals from qualified banks interested in providing banking and direct deposit
payroll processing services to the City and its employees. These services are to meet the
City’s banking services needs as described in this Request for Proposal (RFP) and shall
include:
Depository Services
Automated Clearing House (ACH)
Wire Transfer Services
Electronic Data Interchange (EDI)
Lock Box Service
Direct Deposit Payroll
Controlled Disbursements, Account Reconciliation, and Positive Pay
Information Reporting
Banking-Treasury Workstations
Armored Car Courier
Additional Future Services or Enhancements
This RFP contains the instructions governing the proposals to be submitted, the material to
be included within the RFP, minimum requirements that must be met to be eligible for
consideration, and other requirements.
II. BACKGROUND INFORMATION
The City is a municipal corporation organized under Article XX of the Constitution of the
State of Colorado. The City derives its powers from the State Constitution, applicable
Colorado Revised Statues, and the home rule charter.
The City’s current banking services are provided by the First National Bank of Fort Collins.
According to a separate agreement and not subject to this RFP, US Bank provides the City
with security safe-keeping services.
III. INVITATION TO PROPOSE
The City is soliciting prospective banks that have an interest and meet the “Requirements to
Propose” as specified below to submit a proposal in accordance with the policies,
procedures, and dates set forth herein.
The City has no expressed or implied obligation to reimburse responding banks for any
expenses incurred in preparing proposals in response to this request.
All material submitted to the City of Fort Collins in response to or regarding this RFP
becomes the property of the City and will be returned to the bank only at the City’s option.
The City reserves the right to withdraw this RFP at any time and for any reason. The City
may issue any combination of clarifications, modifications, or amendments it may deem
appropriate.
RFP 8407 Banking Services Page 6 of 30
IV. MINIMUM REQUIREMENTS TO PROPOSE
The City’s minimum requirements for banks responding to this RFP include:
a. A Green VERIBANC, Inc. rating
b. Total assets of at least $2 Billion
c. Approval as an Eligible Public Fund Depository by the Colorado State Banking Board
d. Capital ratios indicating the bank is at least adequately capitalized
The City cannot enter into a contract with a bank that does not meet the minimum criteria
outlined above. Proposals from banks that do not meet the minimum criteria may not be
considered. Banks that do not currently meet the minimum criteria but desire to submit a
proposal must include a written Justification for Consideration. A written Justification for
Consideration does not obligate the selection committee to consider the proposal of a bank
that does not meet the minimum criteria. Designation as an eligible public depository by the
State Banking Board cannot be waived.
V. PROPOSAL MEETING CALENDAR
The following calendar outlines the critical dates for the City of Fort Collins Banking Services
RFP process. The City reserves the right to adjust this timetable as required and will
provide written notice of any changes to all banks that may desire to submit a proposal.
Date Event
October 24, 2016 RFP issued
November 4, 2016 Written proposal inquiries due by 5:00 p.m.
November 14, 2016 Sealed proposals due by 3:00 p.m.
Week of November 28, 2016 Interviews, if necessary.
January 1, 2017 Contract begins
VI. NEWS RELEASE
News releases pertaining to this selection process or any part of the subject shall not be
made without prior written approval by the Director of Purchasing. Direct all information
regarding news releases to:
Mr. Gerry Paul, Director of Purchasing
City of Fort Collins Finance Department
P.O. Box 580
Fort Collins, CO 80522-0580
E-mail: gspaul@fcgov.com
VII. PROPOSAL SUBMITTAL INSTRUCTIONS
A. Submittal
Submittal of a proposal indicates acceptance by the bank of the conditions contained in
the RFP unless clearly and specifically noted in the proposal submitted and confirmed in
the contract between the City and the Bank.
According to the Colorado Open Records Act, all information submitted in response to
this RFP is a public record. Such information will be available for inspection upon
completion of contract negotiations and award. The bidder should not include as a part
of the response to this RFP any information that the bank believes to be a trade secret
or other privileged or confidential data. If the bank wishes to include such information in
RFP 8407 Banking Services Page 7 of 30
the proposal, then the material must be placed in a separate envelope and labeled with
the proposal number and clearly marked “CONFIDENTIAL”. The City will endeavor to
keep that information confidential, separate and apart from the proposal, subject to the
provisions of the Colorado Open Records Act (CRS 23-72-201 et.seq.) or court order.
B. Format
All banks should organize their proposals according to the format described below.
Failure to comply with all provisions of this RFP may result in the proposal being
disqualified. Significant deviation from the format prescribed below may also result in
the proposal being disqualified.
Banks must submit proposals that are substantially complete, thorough, and accurate.
Brochures and other similar background material may be attached to the proposal but
will not be used by the City evaluation team in determining the extent to which the
proposal is responsive or complete.
Proposal should include the following items (in order):
1. Title Page
2. Table of Contents
3. Executive Summary
4. Responses to the “Minimum Requirements”
5. Responses to the “General Requirements and Specifications”
6. Responses to the “Response Items for Accounts and Services”
7. Responses to the “Additional or Future Services and Enhancements”
8. Signed Copy of the Proposal Certification Form (Attachment A)
9. Completed Service Pricing Schedule
10. Appendices
The City has created a proposal checklist (Attachment C) to guide banks in the proposal
preparation. Failure to include all items listed on the checklist may result in the
disqualification of the proposal.
C. Implied Requirements
Products and services that are not specifically requested in the RFP, but are necessary
to provide the functional capabilities offered by the bank, shall be included in the
proposal.
D. Required Items
Included in the sealed proposal package, but not bound with the proposal, each bank
must include a Transmittal Letter. This letter should briefly state the bank’s
understanding of the work to be accomplished, provide a commitment to perform the
work, and indicate the proposal is firm and irrevocable for the period of the contract. It
should also identify all materials and enclosures included in the response to the RFP.
Each bank must submit copies of its three (3) most recent audited financial statements in
the sealed proposal package, but should not bind the statements with the proposal
document.
RFP 8407 Banking Services Page 8 of 30
E. Exceptions to the Prescribed Format
In prescribing the format for proposals, the City desires to make the responses from the
banks consistent and comparable. The City recognizes that banks may vary in their
approach and processes to providing the required services. Proposals that deviate
significantly to the required format may be rejected. All requested information must be
submitted, or if not, an explanatory statement summarizing the bank’s reasons for not
submitting the requested information must be provided.
F. Proposal Term
All proposals must be valid for 180 calendar days from the required submittal date.
VIII. PROPOSAL EVALUATION AND SELECTION
A. General Evaluation Guidelines
The City’s proposal evaluation team will read and evaluate all proposals submitted.
Throughout the evaluation and selection process, the Purchasing Director reserve the
right, in the best interest of the City, to request additional information or clarification from
the banks, or allow corrections of errors or omissions. At the discretion of the City,
banks may be requested to make oral presentations as part of the evaluation process.
After proposals are opened, banks may not amend or clarify submitted proposals unless
the Director of Purchasing equests such information.
B. Criteria for Evaluation of Proposals
The evaluation team will use the following criteria to judge and score the written
proposals and, if necessary, for interviews.
The rating scale shall be from 1 to 5, with 1 being the lowest score, 3 being an average
rating, and 5 being an outstanding rating.
WEIGHTING
FACTOR
QUALIFICATION STANDARD
2.5
Cost Fees and Compensation - The proposal that provides
the banking services at the lowest total cost to the City.
The total cost for the requested banking services will be
determined using the attached Pricing Schedule
(Attachment B)
2.5 Understanding City
Needs
Degree to which the proposal and supporting materials
demonstrate that the bank understands the City’s
needs and operational requirements. Quality and
scope of the conversion implementation plan.
1.0 Financial Strength Evaluation of key financial ratios and financial position
provided by independent rating services.
3.0 Scope of Services Scope of Banking Services. The availability and quality
of services proposed by the bank. Includes the value
of any new product or service suggestions or other new
ideas and enhancements.
RFP 8407 Banking Services Page 9 of 30
1.0 Experience The experience, resources, and qualifications of the
bank and individuals assigned to the City’s account.
Relevant experience managing similar relationships
with public sector clients.
At the option of the City, interviews and site visits may be conducted with some or
all of the banks responding to this Request for Proposal. The final selection will be
based on an evaluation of all of the information submitted and the City's
determinations that the proposal will best serve the City's needs.
a. Performance Standard
In their proposals, banks should strive to meet or exceed the standards of
performance provided in this RFP. The evaluation team retains the SOLE
responsibility to determine the extent to which proposals meet or exceed the
standards of the City.
b. Acceptance Time
The City intends to make a bid selection for contract negotiations by December
12, 2016. Award shall be recommended to the respondent whose proposal best
meets the needs of the City, not necessarily to the lowest cost respondent.
c. Contract Negotiation
If necessary, the City shall have the right to negotiate with one or more of the
banks that respond to this RFP or the successful bank. The content of the RFP
and the selected bank, including the scope of services, will become an integral
part of the Contract, but may be modified by the Contract.
By responding to this RFP, the bank acknowledges the willingness to include, in
the Contract, any information provided in response to this RFP.
A proposal in response to this RFP is an offer to contract with the City based on
the terms, conditions, scope of work, and specifications contained in the RFP.
The City’s Standard Services Agreement is attached as Attachment E. The City
expects that both parties will execute the contract prior to January 1, 2017.
The selected bank shall waive all rights to security interests and rights to set-offs
to City deposits.
The City retains the specific power and authority to require the selected bank to
furnish, such information the City may request or demand concerning the portion
of deposits which are issued by the Federal Deposit Insurance Corporation, the
amounts of the bank’s capital funds, and the nature, amount, market value, and
location of the eligible collateral maintained or pledged by it to secure City
deposits.
d. Term of Contract
The City is seeking a contract for a period of one (1) year, with the option to
renew four (4) additional one-year periods. In order to determine the maximum
cost of the banking services contract, the City will evaluate each proposal based
RFP 8407 Banking Services Page 10 of 30
on the entire contract cost over five years. Therefore, specific annual costs must
be given for each of the five years. Please note that Attachment B requires a
total dollar cost for each of the five years.
e. Commencement of Services
The City expects that banking services selected through this RFP process shall
commence on or before January 1, 2017.
C. General Requirements and Specifications
a. Qualifications and Experience
Describe the bank’s size and location of primary site and service sites, size of
staff, staff designated for the City’s account, and staff designated for the
transition.
Identify key measures of the bank’s financial strength, for example, capital
ratios, market capitalization, total assets etc.
Provide ratings for the bank and bank holding company from two of the
following agencies: Standard & Poor’s, Moody’s, Thomson Bank Watch, or
VERIBANC.
Provide Proof of Compliance with the Colorado Public Depository Act
(PDPA).
Provide contact names and addresses from three other public entities with
service demands similar in size and scope as the City of Fort Collins.
b. Collateralization Provisions
Copy of PDPA designation and Certificate of Eligible Public Depository.
Explain how funds over $250,000 will be collateralized.
c. Conversion Considerations
The Bank is to assist the City with conversion and compensate the City for any
and all costs associated with banking services changes.
Describe the Bank’s proposal for conversion.
Provide a detailed description of any assistance the Bank would provide to
the City during the conversion process.
Banks submitting proposals should describe how they would compensate the
City if the award of this RFP results in a bank change for the City. The
description should be specific in addressing items such as:
Collection and replacement of all old forms, check stock, deposit slips,
bank bags, endorsements stamps, VISA, MasterCard equipment, etc.
Coordination of computer and computer system compatibility.
Customer service assistance during the conversion period.
Customer service assistance after the conversion period.
Reimbursement for City staff time or temporary employees required to
convert services to the new bank.
RFP 8407 Banking Services Page 11 of 30
Reprogramming and revisions of the City’s financial systems if
required.
Itemize all estimated costs associated with the issues immediately above.
Describe how the bank would compensate the City for the cost of conversion
if selected.
d. Banking Supplies and Forms
The Bank will provide supplies and forms for services used by the City
Include a List of all supplies and forms to be used to provide the services.
Costs to the City must be itemized and included on the Pricing Schedule.
e. Report Formats
All proposing banks must include sample reports.
f. Additional or Specific Response Items Related to General Requirements
and Specifications:
How will the bank remain aware of and in compliance with federal and state
requirements?
List any known or anticipated banking structure changes for the Corporate,
Primary, and Local offices for the next five years.
List any known or anticipated banking structure changes for the banking
industry in general for the next five years. Please be specific.
List all recent or anticipated merger, acquisition, or charter change to the
Bank that could affect the City in the next five years. Please be specific.
Describe the type of insurance policy the bank carries on held funds and
funds in transit. State the name of the insurance provider.
g. Emergency Services and Disaster Recovery
Describe the bank’s disaster recovery plan; when was the plan last updated?
Tested?
What is the location of the off-site facilities?
How quickly can the off-site facilities be activated in case of an
emergency?
Has the emergency services and disaster recovery plan been
implemented for a real disaster? Please provide a narrative describing
the situation.
What is the contingency if the regular disaster back-up site is unavailable
and prevents work from being processed on a same day basis?
Does the bank compensate in the event of a loss?
DESCRIPTION OF CURRENT ACCOUNTS AND SERVICES BEING PROVIDED TO THE CITY
RFP 8407 Banking Services Page 12 of 30
h. Overview of Current Banking Services
First National Bank of Fort Collins is the current provider of banking services for
the City. The current banking relationship includes the following accounts and
services (detailed descriptions provided below):
1. Item processing (credits and debits: including cash/ check clearing,
Automated Clearing House deposits – ACHs and Electronic Funds Transfers
– EFTs).
2. Receipt/disbursement accounts and safety deposit boxes.
3. Out-going and incoming wire services.
4. Lock-box processing for utility payments and sales and use tax payments.
5. Daily armored car courier service.
6. Daily transfers via online cash management system.
7. Account statements, reports and account analysis.
i. Accounts and Services
i. Item processing
1. Receipts
Deposits are collected from several City locations and taken to the bank
where they are credited to the City’s checking account. The bank also
credits payments received from customer utility bills and sales tax
receipts through a lock-box arrangement with the City. The bank collects
payments on behalf of the City in the form of cash, check, account
transfer, wire transfer, EFT and ACH.
2. Disbursements
The City processes its general payroll every two weeks and its pension
payroll monthly. City employees have the option of receiving their payroll
in the form of a paycard or a direct deposit. For direct deposit, the City
provides the bank with a file containing all account information, and the
bank handles the transfer. The City processes its accounts payable
checks regularly on Thursday of each week.
ii. Accounts and Safety Deposit Boxes
1. Operating account
Primary depository account for utility payment receipts, sales tax receipts
and customer deposits/payments. This account is swept to a minimal
balance each morning into a local government investment pool.
2. Payroll account
Disbursement account used for bi-weekly and monthly payroll.
3. Accounts payable account
Disbursement account used for all accounts payable checks, EFT, wires
and ACH withdrawals.
RFP 8407 Banking Services Page 13 of 30
4. Additional special accounts
1. Self insurance account (payment of claims)
2. HOME program account (receipt of federal grant draws)
3. CDBG account (receipt of program income, grant draws, etc.)
4. Check clearing fund (receipts with insufficient funds, closed accounts,
are debited from this account)
5. Three checking accounts used for credit card receipts
6. Municipal Court checking account
5. Safety deposit boxes
One large (3” by 6” by 12”) box is required for use by the City.
iii. Wire services
The City uses the fed wire system as a primary form of payment distribution.
Both incoming and outgoing wires are handled by the City’s primary banking
relationship.
iv. Lock box processing
The Lock box must have a Fort Collins postal address.
The City has a lock box arrangement with its current bank. Items are
processed centrally at the primary bank location and credited directly to the
City’s account.
v. Armored Car Courier Service
The City’s current banking services includes an armored car courier service
that picks up deposits and receipts on a daily basis. The deposits are taken
directly to the bank and credited to the City’s account.
vi. On-Line Services
On-line services will include the ability to review balance reporting for all
accounts (prior day, current position, and lockbox availability), view
disbursement account activity and initiate stop-payments, generate wire and
ACH and book and drawdown transfers, and allow the setup of repetitive
transfer templates.
vii. Account statements, reports, and account analysis
The bank provides:
Detailed account statements (hardcopy reports and data files) – Monthly.
Detailed account analysis – Monthly.
Electronic notification of ACH returns – as needed.
The bank calculates all costs for services that are off-set by an earnings
credit from compensating accounting balances. The account analysis
RFP 8407 Banking Services Page 14 of 30
statement depicts costs that are directly related to the number of transactions
(for example, lock box processing, credit card processing, etc.).
RESPONSE ITEMS FOR ACCOUNTS AND SERVICES
j. Proposal for Accounts and Services
Proposals from banks must include a description for providing the City with
accounts and services:
o This should be a detailed technical and narrative response regarding the
ability to provide and availability of the services itemized in Section VIII.
o Information provided in this narrative portion of the proposal must in be
the order described in Section VIII.
o The narrative should adequately describe how the services proposed by
the bank match the current banking services requirements of the City.
o The narrative should provide a detailed description of the bank’s proposal
for the City’s account structure, including the number and type of
accounts, the relationship between the accounts, and the ability to
transfer and track account balances.
Please include a description of all reporting and communication methods and
identify any customer service issues.
All proposals for accounts and services must provide the minimum level and
type of services described in Section VIII. Any variations from the services
currently used by the City must be expressly listed.
Proposals for accounts and services should be limited to services that
provide, or are directly related to, the services described in Section VIII. Any
enhancements to the services described in Section VIII must be provided in
Section VIII: Additional or Future Services.
k. Additional or Specific Response Items Related to Accounts and Services
For each of the services desired by the City, explain how the bank will be
compensated for its services.
Describe how all charges for services and supplies are to be paid. Include all
itemized costs for services on Attachment B- Service Pricing Form included
with this RFP.
Describe the process required for the City or the bank to change or amend
procedures.
State the procedure for dating the deposits that are delivered to the bank by
courier. Is there a specific cut-off time for deposits to be credited on the
same day as deposited? Will they be dated as of the calendar day of
delivery, especially on the last working day of the month?
Describe how deposits will be listed on the bank statements.
Please provide a detailed narrative describing your bank’s controlled
disbursement and positive pay processes.
RFP 8407 Banking Services Page 15 of 30
Describe the formats and media the bank’s computer system accepts:
- Checks issued and deposits for the month (City providing information to
the bank).
- Paid items and deposits received (bank providing information to the City).
- All exceptions to the above.
Describe how the bank will provide check cashing services for City
employees with City checks who do not have an account with the bank.
Indicate the cost of accounts for new City employees using direct deposit or
for current employees who change to direct deposit.
Describe how the bank will use Electronic Data Interchange, Electronic Funds
Interchange or other technological methods to pay City invoices.
Describe armored car service to the City according to the schedule provided
at Attachment D. Include all costs and describe how this service would
operate. If unable to provide this service, explicitly describe an alternative
arrangement.
Please address the following daily cash management and investment issues:
- Minimum balance for accounts.
- Method used for handling daylight overdrafts.
- How and when the bank will notify the City when an account on direct
deposit is closed.
- Requirements for notification of cancellation of direct deposits, both
before and after the tape is processed by the City and provided to the
Bank.
- Describe the time variance between processing the direct deposit tape by
the Bank and the official release date of funds.
l. Performance Indicators
The Bank Administration Institute (BAI) has established quality indicators for
services contemplated in this Request for Proposal. Does your bank measure
performance using these indicators? If so, please indicate the measurements
reported for the most recent Annual BAI survey. If not, please provide other
indicators of the quality of services that your bank would provide to the City.
m. Implementation
Provide a copy of all documents the bank will require to implement the
services that it would provide to the City.
Provide a detailed description of the implementation process, including
testing, and a sample implementation schedule.
What is the average lead time required for implementation? What are the
critical factors that may impact the lead time?
RFP 8407 Banking Services Page 16 of 30
Describe the training the bank will provide for the implementation, including
materials to be supplied by the bank or required of the City.
D. Future Services and Enhancements
The following are examples of areas that a bank could provide service enhancements.
The list is intended to be illustrative, not limiting.
a. Credit Cards.
b. Additional Services at City Locations
The City is interested in the bank’s ability to provide banking services to specific
City locations that may benefit City customers and employees. For example, a
bank may be willing to set up a limited banking services site at City locations that
have high service demands. Another example would be providing Automated
Teller Machines at certain sites.
c. Short-term Financing
From time to time, the City may need to have short-term, emergency financing
available. Please indicate the bank’s willingness to have such “on-demand”
short-term financing service. Please explain the minimum and maximum amount
and term of the financing. Please indicate the procedure and time frame to
arrange such financing.
d. Small Scale Financing
Occasionally, the City or its component units need to conduct short-term
borrowings. Please indicate the bank’s interest in participating in small, short-
term borrowings. The City would like to know how competitive the bank could be
in such situations.
e. Bond Issues and Lease-Purchase Transactions
The City is a regular issuer of long-term bonds and lease-purchase transactions.
Please indicate if the bank has the capability, interest, and competitiveness to bid
on such transactions. Does the bank have the experience and capability to
provide financial advisor for competitive sale bond issues?
f. Training Programs for City Employees
Many of the City’s employees have an interest in investing, economics, finance,
and banking. Please describe any training or educational programs the bank
may provide to employees of their clients. Please indicate the banks level of
interest in partnering with the City to provide such a program for its employees.
g. Technological Advances
The City is interested in technological advances that the bank has to offer.
Please identify areas of technology in which that the bank is proficient. The City
is continuously seeking methods to use technology to improve productivity and
enhance customer service.
h. Other Enhancements
The City is continuously striving to keep up with advances in the finance and
banking fields. Please indicate any other services or capabilities that your
RFP 8407 Banking Services Page 17 of 30
institution believes would be beneficial to the City of Fort Collins. The Finance
Department is always interested in suggestions to improve the way it conducts its
financial procedures and affairs. Practical suggestions may or may not be
considered in the evaluation of the proposal.
E. Attachments
A. Certification by Institutions Responding to the Request for Proposals
B. Service Pricing Form
C. Proposal Preparation Checklist
D. Armored Car Courier Service Stops
E. City of Fort Collins Standard Services Agreement
RFP 8407 Banking Services Page 18 of 30
ATTACHMENT A - CERTIFICATION BY INSTITUTIONS RESPONDING TO THE REQUEST
FOR PROPOSALS
City of Fort Collins
Request for Proposal: 8407 Banking Services
Proposal Certification
The undersigned hereby affirms that:
1. He or she is a duly authorized agent of the Bank issuing this proposal and that all
information provided in the proposal is true and accurate;
2. He or she has read the conditions and specifications that have been made available to
the Bank in conjunction with this RFP and fully understand and accepts these terms
unless specific variations have been expressly listed in the bank’s proposal;
3. The Bank will follow and adhere to all terms and conditions and provide, at a minimum,
all services as expressed in the RFP and the bank’s proposal responding to the RFP;
4. The Bank is qualified as a public depository as required in this RFP or, if not, has
submitted a Justification for Consideration addressing any failure to meet the criteria;
5. The Bank’s proposal is offered independently of any other proposer and is in full
compliance with the terms specified in the RFP;
6. The Bank will accept any awards made to it, contingent on contract negotiation, as a
result of this RFP for a minimum of ninety (90) calendar days following the date and time
of the bid opening; and
7. If awarded a contract, the Bank warrants that it will not delegate or subcontract it’s
responsibilities without the express prior written permission of the City of Fort Collins.
Signature of Bank Official:_______________________________________________________
Name of Official (typed): ________________________________________________________
Title: __________________________________________________________
Name of Bank: __________________________________________________________
Address:
City, State, Zip:
Phone: Email:
Note: Proposals submitted without the signature of an authorized agent of the bank may be
considered non-responsive and ineligible for award.
RFP 8407 Banking Services Page 19 of 30
ATTACHMENT B - SERVICE PRICING FORM
Type of Service
A. General Account Services
Demand Deposit Accounts (10 accounts) 120 0 0
Credit Posted Electronic 26,500 0 0
Credit Posted Paper 7,500 0 0
Debit Posted Electronic 4,100 0 0
Debit Posted Paper 21,000 0 0
Safe deposit box 1 0 0
Petty cash requests 60 0 0
Supplies
Plastic deposit money bags 3,705 0 0
Deposit slips 3,705 0 0
B. Paper Disbursement Services
Full Recon - Items 17,760 0 0
Full Recon - Maintenance (2 accounts) 24 0 0
Positive Pay - Items 16,896 0 0
Positive Pay - Online Maintenance (2 accounts) 24 0 0
Positive Pay Name Verify 300 0 0
Stop Pay Electronic 100 0 0
C. Depository Services
Rejects 100 0 0
Returns 275 0 0
Returns - Reclear 450 0 0
Paper – On Us 46,000 0 0
Paper - Transit 213,000 0 0
D. LockBox Services
Retail Items manual 230,000 0 0
Wholesale Items 35,000 0 0
Keystrokes 100,000 0 0
E. Wire Transfer Services
Internal - Incoming 1,100 0 0
Internal – Outgoing 1,000 0 0
Wire Online Maintenance (1 account) 12 0 0
Incoming 100 0 0
Outgoing 150 0 0
F. Vault Services
Deposited Currency per $100 575 0 0
G. ACH Services
ACH Addenda - electronic 1000 0 0
ACH Addenda – paper 25 0 0
ACH Batch processing 700 0 0
ACH Positive Pay Service (1 account) 12 0 0
ACH Online Maintenance (1 account) 12 0 0
ACH Direct – credit Items 20,000 0 0
ACH Online – Items 200,000 0 0
ACH returns - Electronic 200 0 0
Annual Number of Items
Processed
Cost per item or
monthly charges
Annual Cost of
Service
RFP 8407 Banking Services Page 20 of 30
*PLEASE NOTE THAT THIS FORM HAS ALSO BEEN UPLOADED AS A SEPARATE
MICROSOFT EXCEL FILE.
H. Armored Services (Attachment D)
Number of pickups 3,705 0 0
I. Info & Date Delivery Service
Online Reporting 12 0 0
J. Other (please specify)
0 0
0 0
0 0
TOTAL ANNUAL COST OF SERVICE for 2017 0
TOTAL ANNUAL COST OF SERVICE for 2018
TOTAL ANNUAL COST OF SERVICE for 2019
TOTAL ANNUAL COST OF SERVICE for 2020
TOTAL ANNUAL COST OF SERVICE for 2021
TOTAL COST FOR FIVE YEARS 0
Current Earnings Credit Rate on Compensating Balances
Reserve Requirement percentage of deposits withheld from Compensating Balances
RFP 8407 Banking Services Page 21 of 30
ATTACHMENT C - PROPOSAL PREPARATION CHECKLIST
City of Fort Collins Proposal Checklist
_____ Part 1. The Proposal
_____ Title Page
____ Table of Contents
____ Executive Summary
____ Response to Section IV – Minimum Requirements
____ Response to Section VIII C – General Requirements & Specifications
____ Response to Section VIII j Accounts and Services
____ Response to Section VIII j Additional or Future Services and Enhancements
____ Executed copy of Attachment A-
Certification by Institutions Responding to the Request for Proposals
____ Completed copy of Attachment B-
Services Pricing Schedule
____ Appendices (as applicable)
_____ Part 2. Additional Items (not bound with the proposal)
____ Signed Letter of Transmittal
____ Written Justification for Consideration (only for banks that do not meet the
minimum requirements)
____ Three (3) most recent Financial Statements
____ Proprietary or confidential information (as applicable)
RFP 8407 Banking Services Page 22 of 30
ATTACHMENT D – ARMORED CAR COURIER SERVICE STOPS
DEPARTMENT SCHEDULE LOCATION
Accounting M-F 215 N Mason 5 250
Building Inspection M-F 281 N College 5 250
City Park Pool M-F 1599 City Park Dr 5 250
EPIC M-TH 1801 Riverside 4 200
Foothills Activity Center M-F Foothills Mall 5 250
Gardens @ Spring Creek Tues 2145 Centre Ave 1 50
Grandview Fri 1900 W Mountain Ave 1 50
Library M-F 301 E Olive 5 250
Lincoln Center T-F 417 W Magnolia 2 100
Mulberry Pool M-F (in season) 424 W Mulberry TBD 125
Municipal Court M-F 215 N Mason 5 250
Museum Tues 408 Mason Court 1 50
Natural Areas on call 1745 Hoffman-mill Rd TBD 20
Northside Aztlan M-F 112 E Willow St 5 250
Transfort Thurs 250 N Mason 1 50
Senior Center Wed 1200 Raintree Dr 1 50
Parks Wed 413 S Bryon 1 50
Parking Services M-F 215 N Mason 5 250
Parks & Rec M-F 215 N Mason 5 250
PFA M 102 Remington St 1 50
Police M 2221 S Timberline Rd 1 50
CIS Revenue 2X/day M-F 222 Laporte 10 500
City Clerk Mon 300 Laporte 1 50
GOLF COURSES
Southridge on call 5750 S Lemay TBD 20
Collindale on call 1441 E Horsetooth TBD 20
City Park Nine on call 411 S Bryon TBD 20
Annual Total 3705
Weekly
Frequency
Annual
Service
RFP 8407 Banking Services Page 23 of 30
ATTACHMENT E - STANDARD SERVICES AGREEMENT (SAMPLE)
SERVICES AGREEMENT
THIS AGREEMENT made and entered into the day and year set forth below by and
between THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter
referred to as the "City" and , hereinafter referred to as "Service Provider".
WITNESSETH:
In consideration of the mutual covenants and obligations herein expressed, it is agreed
by and between the parties hereto as follows:
1. Scope of Services. The Service Provider agrees to provide services in accordance with
the scope of services attached hereto as Exhibit "A", consisting of ( )
page and incorporated herein by this reference. Irrespective of references in Exhibit
A to certain named third parties, Service Provider shall be solely responsible for
performance of all duties hereunder.
2. The Work Schedule. [Optional] The services to be performed pursuant to this Agreement
shall be performed in accordance with the Work Schedule attached hereto as Exhibit "B",
consisting of ( ) page , and incorporated herein by this reference.
3. Time of Commencement and Completion of Services. The services to be performed
pursuant to this Agreement shall be initiated within ( ) days following
execution of this Agreement. Services shall be completed no later than . Time is of
the essence. Any extensions of the time limit set forth above must be agreed upon in a
writing signed by the parties.
4. Contract Period. This Agreement shall commence , 200 , and shall continue in
full force and effect until , 200 , unless sooner terminated as herein provided.
In addition, at the option of the City, the Agreement may be extended for additional one
year periods not to exceed ( ) additional one year periods. Renewals and
pricing changes shall be negotiated by and agreed to by both parties. Written notice of
renewal shall be provided to the Service Provider and mailed no later than thirty (30) days
prior to contract end.
5. Delay. If either party is prevented in whole or in part from performing its obligations by
unforeseeable causes beyond its reasonable control and without its fault or negligence,
then the party so prevented shall be excused from whatever performance is prevented by
such cause. To the extent that the performance is actually prevented, the Service
Provider must provide written notice to the City of such condition within fifteen (15) days
from the onset of such condition.
6. Early Termination by City/Notice. Notwithstanding the time periods contained herein, the
City may terminate this Agreement at any time without cause by providing written notice of
RFP 8407 Banking Services Page 24 of 30
termination to the Service Provider. Such notice shall be delivered at least fifteen (15)
days prior to the termination date contained in said notice unless otherwise agreed in
writing by the parties. All notices provided under this Agreement shall be effective when
mailed, postage prepaid and sent to the following addresses:
Service Provider: City: Copy to:
Attn:
City of Fort Collins
Attn:
PO Box 580
Fort Collins, CO 80522
City of Fort Collins
Attn: Purchasing Dept.
PO Box 580
Fort Collins, CO 80522
In the event of early termination by the City, the Service Provider shall be paid for services
rendered to the date of termination, subject only to the satisfactory performance of the
Service Provider's obligations under this Agreement. Such payment shall be the Service
Provider's sole right and remedy for such termination.
7. Contract Sum. The City shall pay the Service Provider for the performance of this
Contract, subject to additions and deletions provided herein, ($ ) as per the
attached Exhibit " ", consisting of page , and incorporated herein by this
reference.
8. City Representative. The City will designate, prior to commencement of the work, its
representative who shall make, within the scope of his or her authority, all necessary and
proper decisions with reference to the services provided under this agreement. All
requests concerning this agreement shall be directed to the City Representative.
9. Independent Service provider. The services to be performed by Service Provider are
those of an independent service provider and not of an employee of the City of Fort
Collins. The City shall not be responsible for withholding any portion of Service Provider's
compensation hereunder for the payment of FICA, Workmen's Compensation or other
taxes or benefits or for any other purpose.
10. Subcontractors. Service Provider may not subcontract any of the Work set forth in the
Exhibit A, Statement of Work without the prior written consent of the city, which shall not
be unreasonably withheld. If any of the Work is subcontracted hereunder (with the
consent of the City), then the following provisions shall apply: (a) the subcontractor must
be a reputable, qualified firm with an established record of successful performance in its
respective trade performing identical or substantially similar work, (b) the subcontractor will
be required to comply with all applicable terms of this Agreement, (c) the subcontract will
not create any contractual relationship between any such subcontractor and the City, nor
will it obligate the City to pay or see to the payment of any subcontractor, and (d) the work
of the subcontractor will be subject to inspection by the City to the same extent as the
work of the Service Provider.
11. Personal Services. It is understood that the City enters into the Agreement based on the
special abilities of the Service Provider and that this Agreement shall be considered as an
RFP 8407 Banking Services Page 25 of 30
agreement for personal services. Accordingly, the Service Provider shall neither assign
any responsibilities nor delegate any duties arising under the Agreement without the prior
written consent of the City.
12. Acceptance Not Waiver. The City's approval or acceptance of, or payment for any of the
services shall not be construed to operate as a waiver of any rights or benefits provided to
the City under this Agreement or cause of action arising out of performance of this
Agreement.
13. Warranty.
a. Service Provider warrants that all work performed hereunder shall be performed with
the highest degree of competence and care in accordance with accepted standards for
work of a similar nature.
b. Unless otherwise provided in the Agreement, all materials and equipment incorporated
into any work shall be new and, where not specified, of the most suitable grade of their
respective kinds for their intended use, and all workmanship shall be acceptable to
City.
c. Service Provider warrants all equipment, materials, labor and other work, provided
under this Agreement, except City-furnished materials, equipment and labor, against
defects and nonconformances in design, materials and workmanship/workwomanship
for a period beginning with the start of the work and ending twelve (12) months from
and after final acceptance under the Agreement, regardless whether the same were
furnished or performed by Service Provider or by any of its subcontractors of any tier.
Upon receipt of written notice from City of any such defect or nonconformances, the
affected item or part thereof shall be redesigned, repaired or replaced by Service
Provider in a manner and at a time acceptable to City.
14. Default. Each and every term and condition hereof shall be deemed to be a material
element of this Agreement. In the event either party should fail or refuse to perform
according to the terms of this agreement, such party may be declared in default thereof.
15. Remedies. In the event a party has been declared in default, such defaulting party shall
be allowed a period of ten (10) days within which to cure said default. In the event the
default remains uncorrected, the party declaring default may elect to (a) terminate the
Agreement and seek damages; (b) treat the Agreement as continuing and require specific
performance; or (c) avail himself of any other remedy at law or equity. If the non-defaulting
party commences legal or equitable actions against the defaulting party, the defaulting
party shall be liable to the non-defaulting party for the non-defaulting party's reasonable
attorney fees and costs incurred because of the default.
16. Binding Effect. This writing, together with the exhibits hereto, constitutes the entire
agreement between the parties and shall be binding upon said parties, their officers,
employees, agents and assigns and shall inure to the benefit of the respective survivors,
heirs, personal representatives, successors and assigns of said parties.
RFP 8407 Banking Services Page 26 of 30
17. Indemnity/Insurance.
a. The Service Provider agrees to indemnify and save harmless the City, its officers,
agents and employees against and from any and all actions, suits, claims, demands or
liability of any character whatsoever brought or asserted for injuries to or death of any
person or persons, or damages to property arising out of, result from or occurring in
connection with the performance of any service hereunder.
b. The Service Provider shall take all necessary precautions in performing the work
hereunder to prevent injury to persons and property.
c. Without limiting any of the Service Provider's obligations hereunder, the Service
Provider shall provide and maintain insurance coverage naming the City as an
additional insured under this Agreement of the type and with the limits specified within
Exhibit , consisting of one (1) page, attached hereto and incorporated herein by
this reference. The Service Provider before commencing services hereunder, shall
deliver to the City's Purchasing Director, P. O. Box 580, Fort Collins, Colorado 80522,
one copy of a certificate evidencing the insurance coverage required from an
insurance company acceptable to the City.
18. Entire Agreement. This Agreement, along with all Exhibits and other documents
incorporated herein, shall constitute the entire Agreement of the parties. Covenants or
representations not contained in this Agreement shall not be binding on the parties.
19. Law/Severability. The laws of the State of Colorado shall govern the construction
interpretation, execution and enforcement of this Agreement. In the event any provision of
this Agreement shall be held invalid or unenforceable by any court of competent
jurisdiction, such holding shall not invalidate or render unenforceable any other provision
of this Agreement.
20. Prohibition Against Employing Illegal Aliens. Pursuant to Section 8-17.5-101, C.R.S., et.
seq., Service Provider represents and agrees that:
a. As of the date of this Agreement:
1. Service Provider does not knowingly employ or contract with an illegal alien who
will perform work under this Agreement; and
2. Service Provider will participate in either the e-Verify program created in Public
Law 208, 104th Congress, as amended, and expanded in Public Law 156, 108th
Congress, as amended, administered by the United States Department of
Homeland Security (the “e-Verify Program”) or the Department Program (the
“Department Program”), an employment verification program established pursuant
to Section 8-17.5-102(5)(c) C.R.S. in order to confirm the employment eligibility of
all newly hired employees to perform work under this Agreement.
b. Service Provider shall not knowingly employ or contract with an illegal alien to perform
work under this Agreement or knowingly enter into a contract with a subcontractor that
knowingly employs or contracts with an illegal alien to perform work under this
RFP 8407 Banking Services Page 27 of 30
Agreement.
c. Service Provider is prohibited from using the e-Verify Program or Department Program
procedures to undertake pre-employment screening of job applicants while this
Agreement is being performed.
d. If Service Provider obtains actual knowledge that a subcontractor performing work
under this Agreement knowingly employs or contracts with an illegal alien, Service
Provider shall:
1. Notify such subcontractor and the City within three days that Service Provider has
actual knowledge that the subcontractor is employing or contracting with an illegal
alien; and
2. Terminate the subcontract with the subcontractor if within three days of receiving
the notice required pursuant to this section the subcontractor does not cease
employing or contracting with the illegal alien; except that Service Provider shall
not terminate the contract with the subcontractor if during such three days the
subcontractor provides information to establish that the subcontractor has not
knowingly employed or contracted with an illegal alien.
e. Service Provider shall comply with any reasonable request by the Colorado
Department of Labor and Employment (the “Department”) made in the course of an
investigation that the Department undertakes or is undertaking pursuant to the
authority established in Subsection 8-17.5-102 (5), C.R.S.
f. If Service Provider violates any provision of this Agreement pertaining to the duties
imposed by Subsection 8-17.5-102, C.R.S. the City may terminate this Agreement. If
this Agreement is so terminated, Service Provider shall be liable for actual and
consequential damages to the City arising out of Service Provider’s violation of
Subsection 8-17.5-102, C.R.S.
g. The City will notify the Office of the Secretary of State if Service Provider violates this
provision of this Agreement and the City terminates the Agreement for such breach.
21. Special Provisions. Special provisions or conditions relating to the services to be
performed pursuant to this Agreement are set forth in Exhibit " " - Confidentiality,
consisting of one (1) page, attached hereto and incorporated herein by this reference.
RFP 8407 Banking Services Page 28 of 30
THE CITY OF FORT COLLINS, COLORADO
By:
Gerry Paul
Purchasing Director
DATE:
ATTEST:
APPROVED AS TO FORM:
SERVICE PROVIDER'S NAME
By:
Printed:
Title:
CORPORATE PRESIDENT OR VICE PRESIDENT
Date:
RFP 8407 Banking Services Page 29 of 30
EXHIBIT
INSURANCE REQUIREMENTS
1. The Service Provider will provide, from insurance companies acceptable to the City, the
insurance coverage designated hereinafter and pay all costs. Before commencing work
under this bid, the Service Provider shall furnish the City with certificates of insurance
showing the type, amount, class of operations covered, effective dates and date of
expiration of policies, and containing substantially the following statement:
“The insurance evidenced by this Certificate will not reduce coverage or limits and
will not be cancelled, except after thirty (30) days written notice has been received
by the City of Fort Collins.”
In case of the breach of any provision of the Insurance Requirements, the City, at its
option, may take out and maintain, at the expense of the Service Provider, such
insurance as the City may deem proper and may deduct the cost of such insurance from
any monies which may be due or become due the Service Provider under this
Agreement. The City, its officers, agents and employees shall be named as additional
insureds on the Service Provider 's general liability and automobile liability insurance
policies for any claims arising out of work performed under this Agreement.
2. Insurance coverages shall be as follows:
A. Workers' Compensation & Employer's Liability. The Service Provider shall
maintain during the life of this Agreement for all of the Service Provider's
employees engaged in work performed under this agreement:
1. Workers' Compensation insurance with statutory limits as required by
Colorado law.
2. Employer's Liability insurance with limits of $100,000 per accident,
$500,000 disease aggregate, and $100,000 disease each employee.
B. Commercial General & Vehicle Liability. The Service Provider shall maintain
during the life of this Agreement such commercial general liability and automobile
liability insurance as will provide coverage for damage claims of personal injury,
including accidental death, as well as for claims for property damage, which may
arise directly or indirectly from the performance of work under this Agreement.
Coverage for property damage shall be on a "broad form" basis. The amount of
insurance for each coverage, Commercial General and Vehicle, shall not be less
than $1,000,000 combined single limits for bodily injury and property damage.
In the event any work is performed by a subcontractor, the Service Provider shall
be responsible for any liability directly or indirectly arising out of the work
performed under this Agreement by a subcontractor, which liability is not covered
by the subcontractor's insurance.
RFP 8407 Banking Services Page 30 of 30
EXHIBIT
CONFIDENTIALITY
IN CONNECTION WITH SERVICES provided to the City of Fort Collins (the “City”) pursuant to
this Agreement (the “Agreement”), the Service Provider hereby acknowledges that it has been
informed that the City has established policies and procedures with regard to the handling of
confidential information and other sensitive materials.
In consideration of access to certain information, data and material (hereinafter individually and
collectively, regardless of nature, referred to as “information”) that are the property of and/or
relate to the City or its employees, customers or suppliers, which access is related to the
performance of services that the Service Provider has agreed to perform, the Service Provider
hereby acknowledges and agrees as follows:
That information that has or will come into its possession or knowledge in connection with the
performance of services for the City may be confidential and/or proprietary. The Service
Provider agrees to treat as confidential (a) all information that is owned by the City, or that
relates to the business of the City, or that is used by the City in carrying on business, and (b) all
information that is proprietary to a third party (including but not limited to customers and
suppliers of the City). The Service Provider shall not disclose any such information to any
person not having a legitimate need-to-know for purposes authorized by the City. Further, the
Service Provider shall not use such information to obtain any economic or other benefit for itself,
or any third party, except as specifically authorized by the City.
The foregoing to the contrary notwithstanding, the Service Provider understands that it shall
have no obligation under this Agreement with respect to information and material that (a)
becomes generally known to the public by publication or some means other than a breach of
duty of this Agreement, or (b) is required by law, regulation or court order to be disclosed,
provided that the request for such disclosure is proper and the disclosure does not exceed that
which is required. In the event of any disclosure under (b) above, the Service Provider shall
furnish a copy of this Agreement to anyone to whom it is required to make such disclosure and
shall promptly advise the City in writing of each such disclosure.
In the event that the Service Provider ceases to perform services for the City, or the City so
requests for any reason, the Service Provider shall promptly return to the City any and all
information described hereinabove, including all copies, notes and/or summaries (handwritten or
mechanically produced) thereof, in its possession or control or as to which it otherwise has
access.
The Service Provider understands and agrees that the City’s remedies at law for a breach of the
Service Provider’s obligations under this Confidentiality Agreement may be inadequate and that
the City shall, in the event of any such breach, be entitled to seek equitable relief (including
without limitation preliminary and permanent injunctive relief and specific performance) in
addition to all other remedies provided hereunder or available at law.