Basic Information

Reference Number

AB-2020-00563

Issuing Organization

Alberta Public Sector

Solicitation Type

RFP - Request for Proposal (Formal)

Solicitation Number

AB-2020-00563

Title

Request for Proposals (RFP), Banking Services

Source ID

APC

Agreement Types

Canada-European Union Comprehensive Economic and Trade Agreement(CETA)

Canadian Free Trade Agreement (CFTA)

New West Partnership Trade Agreement (NWPTA) / Trade, Investment and Labour Mobility Agreement (TILMA)

Details

Location

Alberta

Dates

Publication

2020/01/21 02:00:00 AM EST

Closing Date

2020/01/31 05:00:00 PM EST

Contact Information

Susan Wolfe

1-800-807-3750

Description

Genesis Reciprocal Insurance Exchange is a Property and Casualty Insurer classified as a reciprocal insurance exchange and is one of the 5 largest regulated entities in the Province of Alberta. Genesis has been in operation since 1985. The primary members of the Genesis Reciprocal Insurance Exchange are Rural Municipalities of Alberta. Associate members include Rural Electrification Associations, Water Co-Ops, Seniors Housing, Urban Municipalities, and other nonprofit groups within Alberta.
Genesis invites qualified financial institutions to submit proposals to provide banking services to the Reciprocal Insurance Exchange. Respondents are encouraged to provide any additional information or innovative approach not specifically outlined in this proposal.
General Information:
1. Three interest earning chequing bank accounts required
2. Accounts to be linked to allow for inter-account transfers
3. Minimum cash balance required to be held in accounts is negotiable
4. Typical cash flow through accounts is greater than $15M total
5. Average daily balance projected (consolidated) is $2-3M
6. Average number of payments per month (consolidated) is 50-100
7. Average number of deposits per month (consolidated) is 10-30
8. Accounting software utilized is Sage 300 but will be Microsoft Dynamics GP beginning April 2020
9. Dual signature authorization required for all cheques
Expected Services:
1. Daily interest earned on cash balances
2. Electronic bank statements
3. Online access required for viewing, transfers, and EFTs
4. EFT and eTransfer payment and receipt ability required
5. Online stop payment requests
6. Cheque fraud protection service
7. Electronic bank reconciliation integrated with Microsoft Dynamics GP
8. Inter-branch service
9. Value-added services as available

Only proposals submitted to Genesis Reciprocal Insurance Exchange, 2510 Sparrow Drive, Nisku Alberta or by email to susanw@rmalberta.com by 3:00 PM MST on Friday January 31, 2020 will be accepted and late proposals will not be considered.

For more information on this solicitation, please click on the following link:

http://vendor.purchasingconnection.ca/Opportunity.aspx?Guid=e7a5b37b-8769-275e-0a1c-39c2ed480000 (opens in a new window)

Disclaimer All amendments to the associated notice, including amended documents, plans and specifications (where applicable), are issued by the originator of the notice. MERX asks you to contact the buying agency directly for these amendments. MERX stipulates that potential bidders may also be required to register with the buying authority as a bidder/plan taker. The contact information can be found within the main tender document and/or on this notice abstract.