RFP-R488664_Treasury_Consulting_Service

Request for Proposal (RFP) No 488664 University of Arkansas Treasury/Banking and Merchant Consulting Services RFP RELEASE DATE: November 16, 2012 PROPOSAL DUE DATE: December 18, 2012 PROPOSAL DUE TIME: 2:30 P.M CST SUBMIT ALL PROPOSALS TO: ANTICIPATION OF CONTRACT AWARD: University of Arkansas Business Affairs - Procurement Administration Building, Room 321 1125 W Maple St Fayetteville, AR 72701 January 2013 INTRODUCTION 1.1 OVERVIEW The University is the largest and oldest state institution of higher education and the primary state and land-grant University in Arkansas Established in 1871 under the provisions of the Morrill Act, it is the flagship institution of the University of Arkansas System and the state Recognized as a Carnegie Research University, it is the state’s only comprehensive research university and is classified as an institution with high research activity Through its teaching, research and outreach the University is positioned to be an economic and cultural engine for the state and beyond Vendor Response Required: 1.2 DESCRIPTION OF REQUEST The University of Arkansas, Fayetteville (UAF), is releasing this Request for Proposal to solicit proposals from qualified providers (“Respondents”) for various Treasury, Cash Management, Merchant Processing and Banking Consulting Services as described throughout this RFP The requirements include, but are not limited to, reviewing, analyzing, evaluating and recommending banking, treasury, and merchant processing services for UAF, along with assistance in developing an RFP for banking services, evaluation of the RFP responses, participating in the finalist interview process, final recommendation, contract negotiations, and review Scope: The desired outcome of the work to be performed is an evaluation of existing banking, treasury, and merchant services; recommendations of strategies to achieve optimal service, utilize emergent technologies, and enjoy the lowest possible cost; and the successful re-bidding of banking and merchant services up to and including contract execution Intent: UAF intends to enter into a contract with a highly qualified and experienced firm to provide the services as described above It is intended that the contract shall commence shortly after the award under this RFP, and the intent is to award this contract by January 2013 Vendor Response Required: 1.3 ISSUING AGENCY This Request for Proposal (RFP) is issued by the Office of Business Affairs, University of Arkansas, Fayetteville The University Procurement Official is the sole point of contact for the University of Arkansas, Fayetteville Vendor questions regarding all RFP matters should be addressed via email to Whitney Smith in the Procurement division of the Office of Business Affairs, wesmith@uark.edu During the time between the bid opening and contract award, with the exception regarding vendor questions, any contact concerning this RFP will be initiated by the issuing agency and not the respondent Specifically, the persons named herein will initiate all contact Vendor Response Required: 1.4 TIMETABLE OF ACTIVITIES • • • RFP released to prospective respondents: November 16, 2012 Proposal submission deadline: December 18, 2012, 2:30 P.M CST Anticipation of contract award: January 2013 The successful bidder will enter into Professional Service Contract that will require approval prior to any work conducted For reference: http://procurement.uark.edu/616.php Vendor Response Required: 1.5 TERM AND TERMINATION OF CONTRACT The required services described herein are to commence as soon as possible after contract is awarded The term (“Term”) of the contract will be for a period of one (1) year from the date of award If mutually agreed upon in writing by the contractor and the University of Arkansas, the Business Office reserves the option to renew this contract on a yearly basis, not to exceed a combined total of seventy-two (72) months Either party may terminate this Agreement without cause, at any time during the Term (including any renewal periods), by giving the other party thirty (30) day’s advance written notice of termination Additionally, in the event of non-appropriation of funds necessary to fulfill the terms and conditions of this Agreement during any biennium period of the Term (including any renewal periods), the parties agree that this Agreement shall automatically terminate without notice immediate The Contract will not be assignable without prior written consent of both parties Any attempted assignment without such consent shall be grounds and cause for termination of this contract Vendor Response Required: 1.6 INSTRUCTION TO BIDDERS 1.6.1 Respondents must comply with all articles in the Standard Terms and Conditions as attached to the front of this Request for Proposal, and with all articles within this Request for Proposal document Vendor Response Required: 1.6.2 Respondents must address each numbered paragraph of the RFP This RFP document will be provided to each vendor as a Microsoft Word document; the respondent must respond to this RFP by inserting responses into the appropriate places within this document and including the modified document as part of the total bid response In the event that a detailed response is not necessary, the respondent may state ACKNOWLEDGED as the response to indicate that the respondent acknowledges and fully complies with the specification If a detailed description is requested in the paragraph, please respond accordingly Vendor’s required responses should contain sufficient information and detail for the University to further evaluate the merit of the vendor’s response Failure to respond in this format may result in bid disqualification Vendor Response Required: 1.6.3 Any exceptions to any of the terms, conditions, specifications, protocols, and/or other requirements listed in this RFP must be clearly noted by reference to the page number, section, or other identifying reference in this RFP All information regarding such exceptions to content or requirements must be noted in the same sequence as its appearance in this RFP Vendor Response Required: 1.6.4 Respondents must submit one (1) signed original and three (3) copies of their proposal One (1) copy of referenced or otherwise appropriate descriptive literature must accompany a submitted bid All proposal documents must also be submitted on a CD-ROM (labeled with the respondent’s name and the Bid Number), readable by the University, with the documents in Microsoft Windows versions of Microsoft Word, Microsoft Excel, Microsoft Visio, Microsoft PowerPoint, or Adobe PDF formats; other formats are acceptable as long as that format’s viewer is also included on the CD-ROM or a pointer is provided for downloading it from the Internet Vendor Response Required: 1.6.5 For a bid to be considered, an official authorized to bind the respondent to a resultant contract must have signed the original bid in the blank provided on the bid cover sheet Vendor Response Required: 1.6.6 All official documents and correspondence shall be included as part of the resultant contract Vendor Response Required: 1.6.7 Respondents may deliver their bids either by hand or sent to the Procurement Division through U.S Mail or other available courier services to the address shown on the cover sheet of this RFP Include the RFP name and number on any package delivered or sent and on any correspondence related to the Proposal The Respondent remains solely responsible for insuring that its Proposal is received at the time, date, location, and office specified The University of Arkansas assumes no responsibility for any Proposal not so received, regardless of whether the delay is caused by the U.S Postal Service, University Postal Delivery System, or some other act or circumstance Proposals received after the time specified in the RFP will not be considered All Proposals received after the specified time will be returned unopened Vendor Response Required: 1.6.8 The University Procurement Office reserves the right to award a contract or reject a bid for any or all line items of a bid received as a result of this RFP, if it is in the best interest of the University to so Bids will be rejected for one or more reasons not limited to the following: Failure of the vendor to submit the bid(s) and bid copies as required in this RFP on or before the deadline established by the issuing agency Failure of the vendor to respond to a requirement for oral/written clarification, presentation, or demonstration Failure to provide the bid security or performance security if required Failure to supply vendor references as required Failure to sign an Official Bid Document Failure to complete the Official Bid Price Sheet Any wording by the respondent in their response to this RFP, or in subsequent correspondence, which conflicts with or takes exception to a bid requirement in this RFP Vendor Response Required: 1.7 CONDITIONS AND TERMS OF BID If the bidder submits standard terms and conditions with the bid, and if any section of those terms is in conflict with the laws of the State of Arkansas, the State of Arkansas laws shall govern Standard terms and conditions submitted may need to be altered to adequately reflect all of the conditions of this RFP, the bidder's responses and Arkansas State law Vendor Response Required: 1.8 TYPE OF CONTRACT 1.8.1 Section contains instructions for the detailed pricing for this RFP Respondents must provide detailed and itemized pricing for each category on the Official Bid Price Sheet Failure to so may result in rejection of the bid Vendor Response Required: 1.8.2 Vendors shall submit sample contracts with their bid response Vendor Response Required: 1.9 PAYMENT AND INVOICE PROVISIONS All invoices shall be forwarded to the “Bill To” point listed on the official University purchase order and must also include the following additional information where applicable: a The complete name and address of the vendor b Invoice Date c Invoice Number d Purchase Order Number e Itemized listing of purchases This should include a description of the services, unit price, and extended line total f Name and location of department for whom the goods or services were provided g Discount payment terms h Itemized taxes The University does not agree to pay interest charges or late fees on any amounts due to vendor Payment will be made in accordance with applicable University of Arkansas accounting procedures The University may not be invoiced in advance of delivery and acceptance of services Vendor Response Required: 1.10 PROPRIETARY INFORMATION Proprietary information submitted in response to this bid will be processed in accordance with applicable University of Arkansas procurement procedures All material submitted in response to this bid becomes the public property of the State of Arkansas and will be a matter of public record and open to public inspection subsequent to bid opening as defined by the Arkansas Freedom of Information Act The Respondent is hereby cautioned that any part of its bid that is considered confidential, proprietary, or trade secret, must be labeled as such and submitted in a separate envelope along with the bid, and can only be protected to the extent permitted by Arkansas law Vendor Response Required: 1.11 RESERVATION This RFP does not commit the University to award a contract, to pay costs incurred in the preparation and submission of proposals in response to this request, nor to reimburse respondents for expenses related to visiting the campus or providing on-campus presentations related to the proposals Vendor Response Required: 1.12 EXCUSED PERFORMANCE any In the event that the performance of any terms or provisions of this Agreement shall be delayed or prevented because of compliance with any law, decree, or order of governmental agency or authority, either local, state, or federal, or because of riots, war, acts of terrorism, public disturbances, unavailability of materials meeting the required standards, strikes, lockouts, differences with workmen, fires, floods, Acts of God, or any other reason whatsoever which is not within the control of the party whose performance is interfered with and which, by the exercise of reasonable diligence, such party is unable to prevent (the foregoing collectively referred to as "Excused Performance"), the party so interfered with may at its option suspend, without liability, the performance of its obligations during the period such cause continues, and extend any due date or deadline for performance by the period of such delay, but in no event shall such delay exceed six (6) months 1.13 DISCLOSURE Disclosure is a condition of this contract and the University of Arkansas cannot enter into any contract for which disclosure is not made Arkansas’s Executive Order 98-04 requires all potential contractors disclose whether the individual or anyone who owns or controls the business is a member of the Arkansas General Assembly, constitutional officer, state board or commission member, state employee, or the spouse or family member of any of these If this applies to the bidder’s business, the bidder must state so in writing Vendor Response Required: 1.14 ADDENDA In the event it becomes necessary to revise any part of this RFP, the University will furnish an Addendum addressing such revisions and clarifications which will be accessible by all prospective bidders through the University Hog Bid website http://hogbid.uark.edu/ This site provides access to bid solicitations and tabulations for the University of Arkansas, Fayetteville Respondents shall not rely on any other verbal or written interpretations, changes, or corrections Vendor Response Required: 1.15 PROPOSAL MODIFICATION Proposals submitted prior to the Proposal due date and time may be modified or withdrawn only by written notice to the University of Arkansas Such notice must be received by the University Procurement Official prior to the deadline designated for responses Respondent may change or withdraw the Proposal at any time prior to the response deadline; however, no oral modifications will be allowed Only letters or other formal written requests for modifications or corrections of a previously submitted Proposal that are addressed in the same manner as the Proposal and that are received prior to the scheduled response deadline will be accepted The Proposal, when opened, will then be corrected in accordance with such written requests, provided that the written request is contained in a sealed envelope that is clearly marked with the RFP number and “Modification of Proposal” No modifications of the Proposal will be accepted at any time after the response deadline Vendor Response Required: 1.16 MULTIPLE BIDS - PRIME CONTRACTOR RESPONSIBILITY Single and joint vendor bids and multiple bids by vendors are acceptable However, each bid must be complete in every respect and must be clearly and uniquely identified as such The selected respondent(s) will be required to assume prime contractor responsibility for the contract and will be the sole point of contact Vendor Response Required: 1.17 PERIOD OF FIRM PROPOSAL Prices for the proposed service must be kept firm for at least 90 days after the Proposal Opening Date specified on the cover sheet of this RFP Firm Proposals for periods of less than this number of days may be considered non-responsive The Respondent may specify a longer period of firm price than indicated here If no period is indicated by the Respondent in the Proposal, the price will be firm for 90 days or until written notice to the contrary is received from the Respondent, whichever is longer Vendor Response Required: 1.18 RESPONDENT’S RESPONSIBILITY TO READ RFP It is the Respondent's responsibility to thoroughly examine and read the entire RFP document Failure of Respondents to fully acquaint themselves with existing conditions or the amount of work involved will not be a basis for requesting extra compensation after the award of a Contract Vendor Response Required: 1.19 ERRORS AND OMISSIONS The Respondent is expected to comply with the true intent of this RFP taken as a whole and shall not avail itself of any errors or omissions to the detriment of the services Should the Respondent suspect any error, omission, or discrepancy in the specifications or instructions, the Respondent shall immediately notify the University Procurement Official, in writing, and the University of Arkansas shall issue written instructions to be followed The Respondent is responsible for the contents of its Proposal and for satisfying the requirements set forth in the RFP Vendor Response Required: 1.20 RFP INTERPRETATION Interpretation of the wording of this document shall be the responsibility of the University and that interpretation shall be final Vendor Response Required: 1.21 CONTRACT INFORMATION Respondents should note the following regarding the University's contracting authority, and amend any documents accordingly Failure to conform to these standards may result in rejection of bid 1.21.1 The University of Arkansas may not contract with another party: To pay any penalties or charges for late payment or any penalties or charges which in fact are penalties for any reason To indemnify and defend that party for any liability and damages, however, the University may agree to hold the other party harmless from any loss or claim provided that any determination of the liability of such losses or claims shall be according to the procedures and under the jurisdiction of the Arkansas State Claims Commission Upon default, to pay all sums to become due under a contract To pay damages, legal expenses or other costs and expenses of any party To conduct litigation in a place other than Washington County, Arkansas To agree to any provision of a contract that violates the laws or constitution of the State of Arkansas Vendor Response Required: 1.21.2 A party wishing to contract with the University of Arkansas should: Remove any language from its contract which grants to it any remedies other than: o The right to possession o The right to accrued payments o The right to expenses of deinstallation Include in its contract that the laws of the State of Arkansas govern the contract Acknowledge in its contract that contracts become effective when awarded by the University Procurement Office Vendor Response Required: 1.22 FORMATION OF THE AGREEMENT/CONTRACT At its option, the University may take either one of the following actions in order to create the agreement between the University and the selected Contractor: A Accept a proposal as written by issuing a written notice to the selected Contractor, which refers to the RFP and accept the proposal submitted in response to it B Enter negotiations with one or more firms in an effort to reach a mutually satisfactory written agreement, which will be executed by both parties and will be based upon this RFP, the proposal submitted by the firm and negotiations concerning these Because the University may use alternative (A) above, each Bidder should include in its proposal all requirements, terms or conditions it may have, and should not assume that an opportunity will exist to add such matters after the proposal is submitted The contents of this RFP will be incorporated into the final contract documents Vendor Response Required: 1.23 CONDITIONS OF CONTRACT The successful respondent(s) shall at all times observe and comply with federal and Arkansas State laws, local laws, ordinances, orders, and regulations existing at the time of or enacted subsequent to the execution of this contract which in any manner affect the completion of the work The successful respondent(s) shall indemnify and save harmless the University and all its officers, representatives, agents, and employees against any claim or liability arising from or based upon the violation of any such law, ordinance, regulation, order or decree by an employee, representative, or subcontractor of the successful bidder Vendor Response Required: 1.24 STANDARD OF PERFORMANCE The Contractor shall perform according to the terms and conditions as stated herein, and according to the highest standards and commercial practices Instances of poor performance by the Contractor will be documented and submitted to the Contractor for immediate review and corrective action Continued instances of poor performance will be deemed a breach of the specifications of this RFP and shall be grounds and cause for immediate termination of this contract A review meeting will be called between the University and the Contractor when documented instances of poor performance occur A plan for corrective action agreeable to both parties will be developed and implemented The University retains the right to assess whether and when performance is subsequently acceptable Vendor Response Required: 1.25 RIGHT TO INSPECT The University of Arkansas reserves the right to inspect and investigate thoroughly the establishment, facilities, equipment, business reputation, and other qualifications of the Respondent and any proposed Subcontractors and to reject any Proposal irrespective of price if it shall be administratively determined that the Respondent is deficient in any of the essentials necessary to assure acceptable standards of performance The University of Arkansas reserves the right to continue this inspection procedure throughout the life of the Contract that might arise from this RFP Vendor Response Required: 10 1.26 AWARD RESPONSIBILITY The University Procurement Office will be responsible for award and administration of any resulting contract(s) Vendor Response Required: 1.27 PERMITS & LICENSES The Contractor will obtain and maintain, at its expense, and in its name, all necessary licenses and permits required to perform the services described herein Vendor Response Required: 1.28 QUALITY OF SERVICES The state and It is the intention of the University that this service is of the highest quality attainable Contractor shall consistently maintain a superior record of conformance with all local regulations Vendor Response Required: 1.29 PUBLICITY News release(s) by a vendor pertaining to this RFP or any portion of the project shall not be made without prior written approval of the University Procurement Official Failure to comply with this requirement is deemed to be a valid reason for disqualification of the respondent's bid The University Procurement Office will not initiate any publicity relating to this procurement action before the contract award is completed Vendor Response Required: 1.30 CONFIRMATION The respondent must confirm that any costs not identified but required for a complete system as bid and subsequently incurred by the University must be borne by the respondent Vendor Response Required: 1.31 VENDOR REFERENCES The University requires assurance of the services offered and reserves the right to request or obtain additional information Respondents must supply, with the bid, at least three (3) reference accounts (including persons to contact, telephone numbers, and email addresses) located in the continental United States currently served by respondent See Appendix I for format Vendor Response Required: 11 1.32 CONFIDENTIALITY From the date of issuance of the RFP until the opening date, the Respondent must not make available or discuss its Proposal, or any part thereof, with any employee or agent of the University of Arkansas The Respondent is hereby warned that any part of its Proposal or any other material marked as confidential, proprietary, or trade secret, can only be protected to the extent permitted by law All material submitted in response to this RFP becomes the property of the University of Arkansas Vendor Response Required: 1.33 COST All charges associated with each category of service must be included on the Official Bid Price Sheet, must be valid for 90 days following response deadline, and shall be included in the costing evaluation The University will not be obligated to pay any costs not identified on the Official Bid Price Sheet Any cost not identified by the bidder, but subsequently incurred in order to achieve successful operation of the services, will be borne by the respondent See Appendix II for format Vendor Response Required: TECHNICAL AND SERVICE REQUIREMENTS AND SPECIFIC DELIVERABLES This document and respondent’s response to it will be incorporated into the Contract There are three types of requirements in section of this document These include: • Informational (I) – These sections provide important information about The University of Arkansas’s consulting needs and this RFP These sections only require that the respondent acknowledge that the section has been read and understood Respondents should mark the section with ACKNOWLEDGED • Requests for Information (RI) – These sections request information from the respondents Information should be provided in the most concise manner possible If necessary, more detailed information can be provided as Addenda to the respondent’s proposal Proposals that not provide sufficient information may be deemed unresponsive • Mandatory Requirements (MR) – These sections provide mandatory requirements and are short statements that include the word “must” or “shall” Responses to these sections must be provided as Compliant, Partially Compliant, or Non-Compliant To be marked as Compliant, the respondent’s proposed solution must be fully compliant with the requirement For requirements marked as Compliant, respondents may provide additional information as to how their solution complies If a respondent only partially complies with a requirement currently but will be fully compliant at a later date, the section must be marked as Partially Compliant For sections marked as Partially Compliant, respondents must describe how and when their solution will be fully compliant If a respondent’s solution does not fully comply with a requirement and future compliance is not planned, the section must be marked as Non-Compliant 12 Vendor Response Required: 2.1 VENDOR REQUIREMENTS Give an overview of the treasury, cash management and/or banking consulting services your company provides (RI) • Describe your unique qualifications and experience in providing the services described herein • Describe current and projected workload and work capacity • Describe work elements and how they will be performed • Provide a project schedule showing allocation of effort and estimated completion date • Provide a summary of all project costs with not-to-exceed budgets for reimbursable expenses such as travel, communications, supplies, printing, etc Vendor Response Required: 2.2 PERSONNEL Please provide the name(s) of the individual(s) who will be responsible for the UAF account Please provide a brief resume for each person identified (RI) Vendor Response Required: 2.3 INITIAL REVIEW An initial review of UAF’s current banking and merchant processing business is expected in order for the Vendor to most effectively assist the University with bidding its banking services Please describe the initial review process your company utilizes to analyze UAF’s banking and treasury needs Will this review be ‘virtual’, or will it include onsite visits to UAF? Please identify what types of information will need to be provided by UAF, and how the information will be provided If onsite visits will occur, be sure to include any additional costs in the pricing schedule in Appendix XX Additionally, what is the anticipated time frame for completion of this process? (RI) Vendor Response Required: 2.4 EVALUATION OF UAF’S BANKING SERVICES Once the initial review is complete, please describe how the information will be 13 utilized to make recommendations regarding the University’s current banking needs (RI) Vendor Response Required: 2.5 PREPARATION OF BANKING SERVICES RFP The Vendor must prepare a Request for Proposal for banking and merchant processing services for the UAF that incorporates needed services and recommendations The Vendor must utilize a UAF template in preparation of the RFP and use any necessary contract language provided by UAF legal counsel (MR) Vendor must help facilitate a pre-bid Question and Answer period, including addressing the most frequently asked questions, assisting in preparation of responses, and consolidating the question and answers to provide to all bidders (MR) Vendor Response Required: 2.6 EVALUATION OF PROPOSALS Vendor must assist in the assessment of all proposals received This assessment must include reading and evaluating all proposals received based on the UAF’s selection criteria (MR) Vendor must prepare a detailed analysis of each respondent’s cost proposal Please describe your firm’s process for this type of analysis, and what information will be provided to UAF (MR) Vendor must make recommendations to UAF to help identify the best candidates for finalist interviews Please describe how this process works with your firm (MR) Vendor Response Required: 2.7 FINALIST INTERVIEWS Vendor must attend, in person, and assist with finalist interviews (MR) Please describe who will attend these sessions, and what your objectives are for these interviews (RI) Vendor Response Required: 2.8 FINAL RECOMMENDATIONS Vendor must provide a final written analysis of the finalist respondents and prepare a quantitative analysis of proposed fees and earnings credits (MR) Describe any other services your firm provides as part of the final recommendations 14 (RI) Vendor Response Required: 2.9 CONTRACT NEGOTIATIONS Vendor must work with UAF to negotiate the final contract with winning bidder (MR) Please describe any tools or resources your company will use to help UAF obtain the best contract agreement with its banking partner(s) (IR) Vendor must serve as a resource during UAF’s final review of the banking/merchant processing contract(s) (MR) Please discuss additional services your firm may/will offer to assist in final contract and pricing negotiations (IR) Vendor Response Required: PROPOSAL EVALUATION PROCEDURE AND CRITERIA 1.34 ACCEPTANCE OF PROPOSALS The University of Arkansas reserves the right to reject any or all Proposals or any part thereof, to waive informalities, and to accept the Proposal or Proposals deemed most favorable to the University of Arkansas Vendor Response Required: 1.35 RESPONDENT QUALIFICATIONS The Respondent must demonstrate that it has the operational experience, financial resources and personnel necessary to successfully provide the services specified in this RFP A Respondent must be financially solvent Vendor Response Required: 1.36 RESPONDENT PRESENTATIONS The University of Arkansas reserves the right to, but is not obligated to, request and require that final contenders determined by the Evaluation Committee provide a formal presentation of their Proposal at a date and time to be determined by the Evaluation Committee Respondents are required to participate in such a request if the University of Arkansas chooses to engage such opportunity Vendor Response Required: 15 1.37 EVALUATION OF PROPOSALS An evaluation team will evaluate all Proposals and may take into consideration the skill, facilities, capacity, experience, ability, responsibility, previous work, reputation, and financial standing of each respondent The inability of any respondent to meet the requirements mentioned above may be cause for rejection of proposal The University of Arkansas intends to award the contract to the responsible Respondent whose proposal is determined to be the most advantageous to the University of Arkansas, taking into consideration price and other evaluation factors as set forth in this RFP The University of Arkansas reserves the right to waive specific requirements defined in this document The University of Arkansas reserves the right to reject any and all proposals, wholly or in part, and to make an award, which, in the opinion of the University of Arkansas is in its best interests Responses will be evaluated using the following criteria, but not herein limit the methods or factors to be used to those listed Each response will receive a complete evaluation and will be assigned a score of up to 100 points based on the criteria established below Vendor Response Required: 3.4.1 ABILITY TO PROVIDE FULL RANGE OF SERVICES AS INDICATED IN RFP ABOVE (50 POINTS) Servicer with the highest rating shall receive fifty (50) points Points shall be assigned based on factors within this category, but not limited to: • • • • Scope of Services Offered (as indicated in RFP above) Respondent Presentations Adherence to University Requirements Capacity to begin this engagement within three weeks of a final accepted agreement Vendor Response Required: 3.4.2 VENDOR HISTORY AND PAST PERFORMANCE (30 POINTS) Servicer with the highest rating shall receive thirty (30) points Points shall be assigned based on factors within this category, but not limited to: • • • Number of years in business Profile of organization and history Higher Education references Vendor Response Required: 3.4.3 COST (20 POINTS) Points shall be assigned for the cost of the specific categories of services, which 16 comprise the overall system, including annual maintenance cost, as follows: • • • • The bid with the lowest estimated cost of the overall system, per category, will receive a maximum of 20 points Inclusive of any additional expenses required Cost points will be assigned on the specific category basis as reflected on the Official Price Sheet, for comparison and evaluation purposes Remaining bids will receive points in accordance with the following formula: (a/b)(c) = d a = lowest cost bid in dollars b = second (third, fourth, etc.) lowest cost bid c = maximum points for Cost category (20) d = number of points allocated to bid Failure of the Respondent to provide any information requested in this RFP may result in disqualification of the proposal and shall be the responsibility of the responding firm Vendor Response Required: AWARD OF CONTRACT the The University reserves the right to reject any or all bids, or any portion thereof, to re-advertise if deemed necessary, and to investigate any or all bids for the request of additional information as necessary in order to substantiate the professional, financial and/or technical qualifications of Bidders The University of Arkansas intends to award the contract to the Respondent whose proposal adheres to the conditions set forth within this RFP, who in the sole judgment of The University of Arkansas best demonstrates suitability and qualification for the services required at fair and reasonable prices, and best meets the overall goals and financial objectives of the University Where contract negotiations with a respondent not proceed to an executed contract within a time deemed reasonable by the University of Arkansas (for whatever reasons), the University of Arkansas may reconsider the Proposals of other respondents and, if appropriate, enter into contract negotiations with one or more of the other respondents Proposals shall remain valid and current for the period of 90 days after the due date and time for submission of Proposals The respondent and University agree that time is of the essence in all respects concerning the award of contract and performance hereunder Vendor Response Required: PROPOSAL PRICING Respondents shall provide proposed pricing for the overall scope of the consulting job Respondents should use the Official Price Sheet contained in Appendix II If pricing is dependent on any assumptions that are not specifically stated on the Official Price Sheet, please list those assumptions accordingly on a separate spreadsheet and show detailed pricing Any additional pricing lists should remain attached to the Official Price Sheet for purposes of accurate evaluation 17 Vendor Response Required: BEST AND FINAL OFFER The University of Arkansas reserves the right to request a Best and Final Offer from finalist Respondents, if it deems such an approach necessary In general, the Best and Final Offer would consist of updated costs as well as answers to specific questions that were identified during the evaluation of Proposals If the University of Arkansas chooses to invoke this option, responses would be re-evaluated by incorporating the information requested in the Best and Final Offer document, including costs, and answers to specific questions presented in the document The specific format for the Best and Final Offer would be determined during evaluation discussions Vendor Response Required: 18 APPENDIX I: Bidder Information/References Respondent Representative Contact Name Telephone Email Address Address Bidder must provide the following information as part of this proposal Bidders shall submit at least three (3) current or recent customer references of institutions which you have provided similar services as requested in this RFP, including the organization name and address, contact person, contact phone number, and contact email address (reference Section 1.31 of this RFP): Organization Name _ Address _ Contact Person Contact Phone Number Contact Email _ Organization Name Address _ Contact Person Contact Phone Number Contact Email _ Organization Name Address _ Contact Person Contact Phone Number Contact Email _ APPENDIX II: OFFICIAL PRICE SHEET All charges associated with each category of consulting service and additional expenses must be included on the Official Price Sheet and reflect detailed pricing information If pricing is dependent on any assumptions that are not specifically stated on this Official Price Sheet, please list those assumptions accordingly on a separate spreadsheet and show detailed pricing Any additional pricing lists should remain attached to the Official Price Sheet for purposes of accurate evaluation Prices for the proposed service must be kept firm for at least 90 days following the Proposal due date and time as specified on the cover sheet of this RFP The University will not be obligated to pay any costs that are not identified on, or attached to, the Official Price Sheet Any cost not identified by the bidder, but subsequently incurred in order to achieve successful operation of the service, will be borne by the respondent Failure to so may result in rejection of the bid VENDOR: ADDRESS: CITY/STATE: CONTACT: PHONE: FAX: E-MAIL ADDRESS: ITEM QTY CATEGORY DESCRIPTION Grand Total PRICE EACH $ $ $ $ $ $ TOTAL $ $ $ $ $ $ $ Signature of Authorized Vendor Page 20 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