The City of Grapevine is seeking this Competitive Request for Proposals (RFP) to request formal proposals and secure banking and depository services from qualified financial institutions with service of a five-year term to begin July 1, 2024, and extend through June 30, 2029, with no optional renewals, if approved by City Council. Upon expiration of the contract there may be an extension period of ninety days to allow time for the transition to a new contract. Depository will agree to hold over under the terms and conditions of the contract for such period of time as is reasonably necessary to re-solicit and select a new Depository.
The selected firm will be responsible for providing services in accordance with the scope of services outlined in this specification. The objective of this RFP is to identify the financial institution most capable of providing the highest level of service to the City. The city intends to minimize banking costs, improve operational efficiency, and maximize earnings. This RFP, which represents the City's cash management goals, specifies all the required qualifications, banking services required, activity volumes on accounts, method and terms of compensation, submission instructions, and contract award provisions.
Responses are solicited for this service in accordance with the terms, conditions, and instructions set forth in the RFP guidelines and in accordance with the provisions of the current Texas Local Government Code Title 8.
All questions regarding the terms, conditions or specifications of this bid must be submitted by
10:00 a.m. on April 15, 2024,
through the eBid system.
No Pre-Bid meeting is required. No Bid Bond is required.
Public bid openings are suspended at this time due to the Service Center closure at 501 Shady Brook Drive. All bid openings will be completed on schedule and witnessed by Purchasing staff to ensure all procurement statutes, policies and state laws are followed. Please email a request for a bid tab or a list of proposers. The City of Grapevine Purchasing Department appreciates your cooperation and understanding during this difficult time.
