REQUEST FOR PROPOSAL AND QUALIFICATIONS
Issuers: Eastern Panhandle Regional Planning and Development Council
Western Potomac Economic Partnership
Date: September 20, 2021
Bids must be received by 2PM EST on October 22, 2021. Bids may be submitted electronically to Rachel Snavely at email@example.com or by time-stamped mail to 226 Pilot Way, Ste. E, Martinsburg, WV 25405.
Solicitation: Request for quotation for banking services to include general operating accounts, money market accounts, and bank-issued debit and credit card services. The banking institution
must provide collateralization of funds that exceed the FDIC insured limit of $250,000. Each issuer has one checking account.
Banking services shall include monthly account statements and electronic access to accounts. Electronic banking features shall include, but not be limited to, direct deposit/ACH transactions, images of checks deposited and paid, and stop payment transactions. Issuers request that electronic banking services be provided at no charge. Issuers request that paper checks and deposit slips be provided at no charge.
A significant factor in determining the award of this contract will be the interest rate earnings applied to our funds. In an effort to have a uniform method of comparison between financial institutions, we request that the interest earnings be determined as a percentage of the prime rate.
Term of Contract: Contract will be for a three (3) year period to commence upon deposit of funds with the option to renew. The selected bank shall be awarded contracts with both the Eastern Panhandle Regional Planning and Development Council and the Western Potomac Economic Partnership.
Qualifications: The following information shall be submitted with the proposal offer:
• an outline of previous applicable business account experience
• the name, professional qualifications, and specific, relevant experience of the individual (s) assigned to our accounts
• the financial institution’s professional affiliations
• the cost or fees associated with the applicable accounts,
as well as expected interest rates accrued notated as a percentage of the prime rate
Awarding: Awards for banking services shall be made based on experience, professional qualifications, performance, cost, fees, and interest accruals.
Termination: The issuers reserve the right, by written notice, to terminate, in whole or part, any such bid award when (1) necessary or convenient, due to legal, financial, or operational conditions within the issuers or (2) because of failure of the successful bidder to fulfill contract obligations in regard to quality of work, timeliness of deliverables, or other conditions found to be unsatisfactory by the issuers.
Bank Statements Available Upon Request Only
Eastern Panhandle Regional Planning & Development Council
226 Pilot Way, Suite E, Martinsburg, WV 25405