HomeMy WebLinkAbout10-117 - US Bank - Banking Services 10-117
Council Approval 11/1/10
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Banking Services
Contract
City of Tukwila
Finance Department
6200 Southcenter Blvd
Tukwila. WA 98188
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Citv of Tukwila Bankina Services RFP
Attachment B
Banking Services Agreement
BANKING SERVICES AGREEMENT PROVISIONS FOR THE CITY OF TUKWILA
The City of Tukwila, Washington, a municipal corporation (hereinafter the "City and US Bank,
whose address is 1420 Fifth Avenue Seattle, WA 98101, (hereinafter the "Financial Institution
agree and contract as follows:
A. SERVICES BY FINANCIAL INSTITUTION
1. The Financial Institution agrees to perform the services described in this
proposal, which attachment is incorporated herein by reference.
2. All services, and all duties incidental or necessary thereto, shall be conducted
and performed diligently and completely and in accordance with professional
standards of conduct and performance.
B. COMPENSATION
1. The total compensation to be paid to the Financial Institution shall be detailed
in Attachment A as excerpted, updated and expanded in the document,
"Attachment A Bid Sheet Excerpt, Update and Expansion" that is attached
to this contract.
The above fees include all labor, materials and expenses required for the
completion of these services.
2. Payment to Financial Institution by the City in accordance with the above
shall be the total compensation for all work performed under this agreement
and supporting documents hereto as well as all subcontractor's fees and
expenses, supervision, labor supplies, materials, equipment or the use
thereof, reimbursable expenses, and other necessary incidentals.
3. The Financial Institution shall be paid based on the acceptance of the
proposed compensation.
4. The City shall have the right to withhold payment to the Financial Institution
for any service not completed in a satisfactory manner until such time as the
Financial Institution modifies such service to the satisfaction of the City.
5. Unless otherwise specified in this Agreement, any payment shall be
considered timely if a check is mailed or is available within 45 days of the
date of actual receipt by the City of an invoice conforming in all respects to
the terms of this Agreement.
C. TERMINATION OF AGREEMENT
November 24, 2010 Page 2 of 5
Citv of Tukwila Banking Services RFP
The City reserves the right to terminate or suspend this Agreement at any time,
with or without cause, by giving forty -five (45) days notice to the financial
institution in writing. In the event of termination, all finished or unfinished reports,
or other material prepared by the Financial Institution pursuant to the Agreement
shall be provided to the City. In the event the City terminates this agreement
prior to completion without cause, the Financial Institution may complete such
analyses and records as may be necessary to place its records in order. The
Financial Institution shall be entitled to receive just and equitable compensation
of any satisfactory services completed prior to the date of suspension or
termination, not to exceed the compensation set forth above. Should the
Financial Institution desire to terminate this agreement, written notice of 180 days
is required.
D. OWNERSHIP OF WORK PRODUCT
Ownership of the originals of any reports, data, studies, surveys, charts, maps,
drawings, specifications, figures, photographs, memoranda, and any other
documents which are developed, compiled or produced as a result of this
agreement, whether or not completed, shall be vested in the City. Any reuse of
these materials by the City for projects or purposes other than those which fall
within the scope of this agreement or the project to which it relates, without
written concurrence by the Financial Institution will be at the sole risk of the City.
E. GENERAL ADMINISTRATION AND MANAGEMENT
The Finance Director or Deputy Finance Director for the City of Tukwila shall
review and approve the Financial Institutions charges to the City under this
Agreement, shall have the primary responsibility for overseeing and approving
services to be performed by the Financial Institution, and shall coordinate all
communications with the Financial Institution from the City.
F. CONTRACT PERIOD
The Banking Services Agreement is to extend for a period of four years,
beginning on Januaryl 2011 with a two year option to renew the Agreement.
The City in order to exercise its renewal option will need to do nothing. At the
end of this period, the City may choose to negotiate a renewal option or to
request additional proposals.
G. SUCCESSORS AND ASSIGNS
The Financial Institution shall not assign, transfer, convey, pledge, or otherwise
dispose of this agreement or any part of this agreement without prior written
consent of the City.
H. NONDISCRIMINATION
The Financial Institution shall, in all hiring or employment made possible or
resulting from this agreement, take affirmative action to ensure that there shall be
no unlawful discrimination against any employee or applicant for employment
November 24, 2010 Page 3 of 5
City of Tukwila Banking Services RFP
because of sex, race, age, color, creed, national origin, marital status or the
presence of any sensory, mental or physical handicap, unless based upon a
bonafide occupational qualification, and this requirement shall apply to but not be
limited to the following: employment, advertising, layoff or termination, rates of
pay or other forms of compensation and selection for training, including
apprenticeship.
No person shall be denied or subjected to discrimination in receipt of the benefit
of any services or activities made possible by or resulting from this Agreement on
the grounds of sex, race, color, creed, national origin, age except minimum age
and retirement provisions, marital status, or the presence of any sensory, mental
or physical handicap.
HOLD HARMLESS /INDEMNIFICATION
The Financial Institution agrees to indemnify, defend, and save harmless the City
and its officers, agents, and employees, from any claim, real or imaginary, filed
against the City or its officers, agents, or employees, alleging damage or injury
arising out of the subject matter of this Agreement; provided, however, that such
provision shall not apply to the extent that the damage or injury results from the
fault of the City or its officers, agents, or employees. "Fault" as herein used shall
have the same meaning as set forth in RCW 4.22.015.
J. LIABILITY INSURANCE COVERAGE
The Financial Institution will, at the Financial Institution's sole expense, obtain
and maintain during the life of this Agreement, policies of comprehensive general
liability insurance, each with combined single limits of not less than $1,000,000
per occurrence. Any policy of required insurance on a claims -made basis shall
provide coverage as to all claims arising out of the services performed under the
contract and filed within three (3) years following completion of the services so to
be performed. A failure to obtain and maintain such insurance or to file said
certificates shall be a material breach of this Agreement.
K. COMPLIANCE WITH LAWS
The Financial Institution shall comply with all applicable State, Federal and City
laws, ordinances, regulations, and codes.
L. FUTURE SUPPORT
The City makes no commitment and assumes no obligations for the support of
Financial Institution activities except as set forth in this Agreement.
M. INDEPENDENT CONTRACTOR
The Financial Institution is and shall be at all times during the term of this
agreement an independent contractor.
N. EXTENT OF AGREEMENT /MODIFICATION
November 24, 2010 Page 4 of 5
City of Tukwila Bankina Services RFP
This Agreement, together with all attachments and addenda, represents the
entire and integrated Agreement between the parties hereto and supersedes all
prior negotiations, representations or agreements, either written or oral. This
Agreement may be amended, modified or added to only by written instrument
properly signed by both parties hereto.
O. ADDITIONAL WORK
The City may desire to have the Financial Institution perform other services in
connection with the banking relationship other than provided for by the express
intent of this contract. Any such services shall be considered as additional work,
supplemental to this Agreement. Additional work shall not proceed unless so
authorized in writing by the City.
Authorized additional work will be compensated for in accordance with a written
supplemental Agreement between the City and the Financial Institution.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the dates written
below:
FINANCIA�l UTION: CITY OF TUKWILA:
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By/ By' G^—
Title: ov,, el .?0,,,, TitI(/ #1)
Date G// V/ /6 Date: 0-- I i) n
APPROVED AS TO FORM:
T it i tto ey
Date: ►2 I 1 t°
November 24, 2010 Page 5 of 5
CITY OF TUKWILA
US BANK BANKING SERVICES CONTRACT
Attachment A Bid Sheet Excerpt, Update and Expansion
Item -_,J E Est Mo. Unit price Avg. tilo Cost I ANNUAL
I Volume I
COST
Ongoing Current Services:
Account Maintenance 6 $5 00 $30 00 $360 00
Stmnt w/Ck Front Bank Images 1 $5 00 $5 00 $60 00
Paper Credits 154 $0 120 $18 48 $221 76
Electronic Credits 130 $0.100 $13.00 $156 00
Paper Debits 400 $0 070 $28 00 $336 00
Electronic Debits 66 $0 050 $3 30 $39.60
Deposited Item On-US 293 $0 030 $8.79 $105.48
Deposited Item Local 1579 $0.030 $47 37 $568.44
Deposited Item Regional 167 $0.035 $5 85 $70 14
Deposited Item Transit 645 $0.040 $25 80 $309 60
Deposited Items Returned 5 $2.00 $10 00 $120 00
Returned Item Maintenance 1st 1 $5.00 $5.00 $60 00
Returned Item Maintenance 2nd 1 $0 00 $0 00 $0 00
Deposited Items Special Instructions 1 $5 00 $5 00 $60 00
Re-deposited Return Item 6 $1 00 $6.00 $72.00
Online Banking Returned Item Statement, per month 3 $5.00 not used
Return item image viewed 4 $1 00 $4 00 $48.00
Snapshot statement copy 2 $5 00 N/A annual est $10 00
Account Inquiry 1 $5 00 $5.00 $60 00
Copy of check/deposit ticket 1 $1 00 $1 00 $12 00
Photocopy Per Item 1 $1 00 $1 00 $12.00
$21381..02
Account Reconciliation Services:
Positive Pay Maintenance I 2 $30 00 $60 00 $720 00
Positive Pay per item 400 $0 040 $16.00 $192.00
Nextday Positive Pay 1 No Charge 0.00 $0 00
Positive pay payee validation 400 No Charge 0.00 $0 00
SP issue/cancel input 15 $0.25 $3 75 $45.00
Positive Pay Exception Items 1 $1 00 $1 00 $12.00
PosPay Trans Wkly Input 1 No Charge 0.00 $0 00
ARP Manual Input 59 No Charge 0.00 $0 00
Recon Printing Mailing fee 2 $5.00 $10 00 $120 00
File Confirmation Per Fax I 1 $1 00 $1.00 $12.00
ARP transmission output Account recon paid item 2 $5 00 $10.00 $120.00
transmission I
CITY OF TUKWILA
US BANK BANKING SERVICES CONTRACT
Attachment A Bid Sheet Excerpt, Update and Expansion
item ,_a Est Ma Unit Price I Avg. Mo Cost ANNUAL
Volume COST
ARP Transmission per Item 400 $0.001 $0.40 $4 80
2_, I J $1,225.80
On Line Banking:
On Line Banking Current Day Account I 1 20 00 /Acct $20 00 $240 00
On Line Banking Current Day Module 1 No Charge 0 00 $0.00
On Line Banking Current Day Detail Trx I 13 035 /item $0 46 $5.46
On Line Banking Current Day Sum I 240 $0 035 $8.40 $100 80
On Line Banking Prior Day Account 4 $20 1st, $15 next $65 00 $780 00
On Line Banking Prior Day Detail Trx 1011 035 /item $35.39 $424 62
On Line Banking Prior Day Sum 240 $0 04 $8.40 $100.80
On Line Banking Prior Day Module 1 No Charge 0 00 $0.00
On Line Banking Online DDA Statement 4 $5 00 $20 00 $240 00
On Line Banking token 6 No Charge $0 00 $0 00
Customer Initiated Stops 1 $5 00 $5 00 $60 00
Wires Monthly Client Maint. 1 $10 00 $10 00 $120 00
Issue maintenance 2 $10 00 unlimited accts $120 00
Analysis Charge 1 No Charge $0 00 $0 00
7 v y A $2,191.68
Wire Transfers:
Wire Monthly Maintenance PIN 1 $5 00 $5 00 $60 00
Incoming Domestic Wire 5 $7.001 $35 00 $420 00
Domestic Repetitive 4 $7 001 $28 00 $336 00
v
Zero Balance Accounts
ZBA lead I 1 $10 001 $10.00 $120.00
ZBA Subsidiary I 3 $5 001 $15.00 $180 00
Image Services:
Monthly Maintenance Per Account I 2 $15 001 $30 00 $360 00
Image Per Item I 400 $0 031 $12.00 $144 00
Image CD -ROM 1 1 $10 001 $10 00 $120 00
SP Web images retrieved 1 $1 00 $1 00 $12.00
CITY OF TUKWILA
US BANK BANKING SERVICES CONTRACT
Attachment A Bid Sheet Excerpt, Update and Expansion
It" r' Ee M" Unit Price Avg. Mo Cost ANNUAL
Vo lum COST
ACH Service:
ACH Monthly Maintenance 11 I 2 $15 00 $30 00 $360 00
ACH Process Run 3 $5 00 $15 00 $180 00
ACH Originated Fed Item 969 $0 04 $38.76 $465 12
ACH Originated on -US Item 104 $0 03 $3.12 $37 44
ACH Received Item 140 $0.05 $7 00 $84 00
ACH Block Monthly Maint Per Account 4 $5 00 $20 00 $240 00
ACH Filter Monthly Maint 2 $5.00 $10 00 $120 00
ACH Return Per Item 1 $3 00 $3 00 $36 00
ACH Return Notification of Change 1 $2.75 $2.75 $33.00
ACH Return /Notification of Change Faxed 2 $3 00 $6 00 $72.00
1.627"
CVS, Coin Currency Services:
Cash Deposits 1 $150,000 06/$100 $90 00 not used
Branch Deposited Cash $150,000 06/$100 $90.00 not used
Vault Deposited Cash $150,000 06/$1001 $90.00 $1,080.00
Cash Vault Deposit per receipt 110 $1 001 $110.00 $1,320 00
Cash deposit adjustment 0.5 $6 001 $3 00 $36 00
Nite Bag Deposit Cash Forward No Charge' 0 00
Mailed Receipts 20 $1 001 $20.00 $240 00
Court
Standard change order 4 $5.001 $20.00 $240 00
Safekeeping (including reporting):
Interest Received 1 No Charge 0 00 $0.00
Maturities /Calls 0.5 No Charge $0 00 $0 00
Investment Settlement (DVP) 0.5 $40 001 $20 00 $240 00
Account Maintenance 0.5 $20 001 $20 00 $240 00
Price to Market Report 0.5 No Charge' $0 00 $0.00
SKG receipts Govt/Equities 0 5 $2.001 $1 00 $12.00
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Earnings credit 1 0.50% w/ 10% reserve
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