Posted Date : July 12,2022
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : BANKING-4415
Government Authority located in Oak Ridge, Tennessee; USA based organization looking for expert vendor for depository and banking services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to provide depository and banking services to the government authority located in Oak Ridge, TN.
- Current Account Structure:
- The City currently has three operational accounts (ACH, Deposit, and Disbursement) and a miscellaneous account used for employee Plan 125 disbursements
- The City utilizes online access for reviewing balances, transferring funds, making ACH payments, initiating stop payment orders, clearing positive pay exceptions, initiating wire transfers, and viewing various images and are a necessity for all City accounts
- ACH Account:
- This account is used for the City’s incoming and outgoing ACH and wire Transactions
- Deposit Account:
- This account is used for the City’s cash and check deposits.
- Disbursement Account:
- This account is used solely to process disbursements for accounts payable checks. There are no direct deposits into this account except for the bank transfer to cover checks presented for payment. Currently, checks are prepared at least twice weekly
- Interest-Bearing Accounts:
- All City accounts shall be interest bearing. The Bank shall automatically invest all collected cash balances in the City accounts daily
- Lockbox Services – City Optional Service:
- The City currently does not use Lockbox services.
- Wire Transfers:
- Incoming: All wire transfers received by the bank’s cutoff time will be considered as “available for investment.” Should an expected wire transfer not be received by the Bank by the cutoff time, the wire transfer will be traced from origin to destination to ascertain the party responsible for delaying the transfer
- Outgoing: Outgoing wire transfers made by the bank’s cutoff time which shall be no earlier than 2 pm, will be transferred on the same day. The wire transfer will not be held or delayed, even if it results in a daylight overdraft.
(2) All the questions must be submitted no later than July 27, 2022.
[C] Eligibility:
Onshore (USA organization Only)
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office premises.
Budget :
Deadline to Submit Proposals: August 09,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : BANKING-4415
Government Authority located in Oak Ridge, Tennessee; USA based organization looking for expert vendor for depository and banking services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to provide depository and banking services to the government authority located in Oak Ridge, TN.
- Current Account Structure:
- The City currently has three operational accounts (ACH, Deposit, and Disbursement) and a miscellaneous account used for employee Plan 125 disbursements
- The City utilizes online access for reviewing balances, transferring funds, making ACH payments, initiating stop payment orders, clearing positive pay exceptions, initiating wire transfers, and viewing various images and are a necessity for all City accounts
- ACH Account:
- This account is used for the City’s incoming and outgoing ACH and wire Transactions
- Deposit Account:
- This account is used for the City’s cash and check deposits.
- Disbursement Account:
- This account is used solely to process disbursements for accounts payable checks. There are no direct deposits into this account except for the bank transfer to cover checks presented for payment. Currently, checks are prepared at least twice weekly
- Interest-Bearing Accounts:
- All City accounts shall be interest bearing. The Bank shall automatically invest all collected cash balances in the City accounts daily
- Lockbox Services – City Optional Service:
- The City currently does not use Lockbox services.
- Wire Transfers:
- Incoming: All wire transfers received by the bank’s cutoff time will be considered as “available for investment.” Should an expected wire transfer not be received by the Bank by the cutoff time, the wire transfer will be traced from origin to destination to ascertain the party responsible for delaying the transfer
- Outgoing: Outgoing wire transfers made by the bank’s cutoff time which shall be no earlier than 2 pm, will be transferred on the same day. The wire transfer will not be held or delayed, even if it results in a daylight overdraft.
(2) All the questions must be submitted no later than July 27, 2022.
[C] Eligibility:
Onshore (USA organization Only)
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office premises.
Budget :
Deadline to Submit Proposals: August 09,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$