NOTICE TO ALL PROPOSERS

Transcription

1 Purchasing Department 333 Seventh Ave., 15 th Floor New York, NY Purchasing Dept. Tel Purchasing Dept. Fax NOTICE TO ALL PROPOSERS Date: June 25, 2015 To: All Prospective Proposers From: Lorraine Prasad Purchasing Director, Acting Re: Addendum 3 # C1271 Banking and Related Please note the following are answers to questions submitted for the Banking and Related : Question 1. A. Financial Institution Qualifications 7 What type of services does the FIT require at the branch? FIT Response: The in-branch service requirement may be anticipated to be minimal, but may include, receipt of armored car deposits, student/faculty/staff check cashing, for example. 2. E. Merchant Banking 12 Please provide the annual credit card dollar volume and number of transactions process annually by department for each card type (I.e. Visa, MasterCard, Discover and American Express). FIT Response: The activity volumes presented in Appendix V to the is the extent of the information available 3. E. Merchant Banking 12 Please provide the make, model and quantity of the terminals or any point of interaction devices (ToPOI) being used today by each department. If there are to be changes to that ToPOI equipment, please explain what information you require to assist in those changes. FIT Response: Not available 4. E. Merchant Banking 12 Please provide the name and version number of any software or gateway solution being used today by department. FIT Response: Not available

2 Requests for Clarification/Questions and FIT S response 5. H. Check Cashing 13 What is the estimated volume of employees and/or students that would be expected to cash checks at a local bank branch? FIT Response: The College does not track this statistic. 6. I. Armored What is the expected monthly aggregate dollar value (or range) of your cash deposits? FIT Response: The estimated average dollar deposit amount is less than $50, I. Armored What is the expected monthly aggregate dollar value (or range) of your coin deposits? FIT Response: Please see question # 6 above. 8. I. Armored Do you use Tamper evident bags for deposit? If yes, how many do you order per year? FIT Response: Yes. We use approximately less than 100 per year. 9. I. Armored Do you expect your cash deposits to JPMC to be seasonal? Yes No a. If yes, please identify when you expect the activity to peak or decline, along with the reason and dollar amount of variance: FIT Response: January and August, which are registration months, are peak periods for the College. The estimated average dollar deposit amount is less than $50, I. Armored Cash Orders 1. What is the expected monthly aggregate dollar value (or range) of your cash orders with J.P. Morgan? 2. Do you expect your cash orders with J.P. Morgan to be seasonal? Yes No a. If yes, please identify when you expect the activity to peak or decline, along with the reason and dollar amount of variance: FIT Response: The petty cash-on-hand is $500. We would expect to replenish petty cash on a bi-weekly basis consistent with armored car cash pickup. Outside of this schedule we would assume an additional demand of 2 times per month.

3 11. NA NA Can you confirm which balances need to be collateralized? FIT Response: All accounts are subject to collaterialization. 12. NA NA Who is your current provider for the requested services within the? FIT Response: The College does not desire to release the identity of its current financial institution 13. NA NA Are you under contract with your current provider of these services and is this contract expiring? FIT Response: The College does not have a written contact with its current financial institution.. NA NA Will the College be selecting one provider for all services or will you consider splitting the business among multiple providers? FIT Response: The College expects to award to a single institution for all services. 15. NA NA 1. Can you confirm the Tax ID for Fashion Institute of Technology? 2. Do the other not-for profit entities operate under their own individual tax id s? FIT Response: Tax IDs are as follows Fashion Institute of Technology FIT Student Association FIT Student Housing Corp FIT Student Faculty Corp FIT Foundation NA NA In the interest of gathering complete and accurate services and pricing, would the College be willing to provide copies of the last 3-6 months of account analysis statements for each of the accounts in scope under this with current pricing redacted?

4 17. NA NA Does FIT plan to award all services to one institution or select the institution best suited to its needs in each service category (banking, card services, merchant services)? FIT Response: The College expects to award to a single institution for all services. 18. NA NA 1. How many merchant accounts does FIT require? FIT Response: The activity detail presented in Appendix V to the is the extent of the information available 2. Please send the volume and transaction counts by merchant account and by card type? FIT Response: The activity detail presented in Appendix V to the is the extent of the information available 3. Which gateway(s) is/are used for FIT s website payments? FIT Response: Not available 4. What does FIT utilize for on-site and call in terminals/vt? Are the terminals EMV enabled? FIT Response: Not available 19. NA NA Which financial institution(s) do/does the College currently maintain its banking relationship? FIT Response: The College does not desire to release the identity of its current financial institution 20. NA NA Do all bank accounts and services require collateral? If required, is this a New York State requirement? Or is this a college requirement an internal policy? Or has it always been handled in this fashion with collateral? FIT Response: All depository accounts are subject to collaterialization. 21. NA NA If a financial institution is unable to provide collateral, is the financial institution automatically disqualified? FIT Response: Yes.

5 22. NA NA Can we obtain copies of the most recent Customer Account Analysis (CAA) statements from all current bank(s)? We are looking for a listing and break down of all bank services/product types currently being used along with the actual volumes and dollar amounts of each transaction(s). This will allow us to fully analyze and recommend appropriate services and products for the College. 23. NA NA Can we obtain copies of the last 3 years audited financial statements of the College - in order to establish credit facilities as needed? FIT Response: The College does not wish to establish credit facilities. Audited financial statements for the past three years are attached. 24. NA NA Can FIT please provide past Account Analysis statements from your current financial institution? As an alternative, can you please share volumes for each transaction cited in an Account Analysis statement. Gathering this level of information will enable us to draft a pricing pro forma. 25. NA NA Can you share an estimate of total employees? This is helpful in our attempt to frame our response for ATM services. FIT Response: The College has 2,123 employees including part-time employees and adjunct faculty. 26. NA NA Can you please alert us if FIT s current Commercial Card (Purchasing Card and Travel & Expense Cards) is a Corporate Liability or Personal Liability program? Furthermore, is the current card program requiring FIT (and each respective card holder) to pay the total statement outstanding balance to be paid in full, or are balances eligible to be carried month-to-month? FIT Response: The purchasing card and travel & expense cards are College obligations. The College intends to pay balances in full with no month-to-month rollover. 27. NA NA What are the service descriptions associated with the monthly activity transactions for each account?

6 28. NA NA What is their ACH payroll volume and their vendor payment volume? FIT Response: This information is not available 29. NA NA Are you sending a NACHA (ACH) file via online banking or direct send? FIT Response: ACH files are sent via online banking. 30. NA NA What is your ATM volume? FIT Response: Please see Addendum #1/Question # NA NA Are the wires only domestic? FIT Response: The College does issue a limited number of international wires. 32. NA NA How many scanners and number of locations for Remote Deposit? FIT Response: The College has approximately six scanners in three locations connected to Windows-based PCs. 33. NA NA What is the average volume of checks deposited monthly? FIT Response: This information is not available 34. NA NA Who is their current bank? FIT Response: The College does not desire to release the identity of its current financial institution THIS ADDENDUM IS PART OF THE CONTRACT DOCUMENT AND SHALL BE INCLUDED WITH YOUR REQUEST FOR PROPOSAL SUBMITTAL. YOUR SIGNATURE BELOW WARRANTS THAT YOU UNDERSTAND THIS ADDENDUM AND THAT YOU HAVE MADE THE APPRORIATE ADJUSTMENTS IN YOUR PROPOSAL AND CALCULATIONS. Signature Print Name and Title of Authorized Representative

7 Print Name of Company/Partnership/Individual Date