Government Contract | Massachusetts
Banking Services

Bid Information

Bid Alert No: 00000584223

Bid Title: Banking Services

Agency Bid No. Title: TRE RFR CASH BANKING 2016

Received Date: 05/27/2016

Close Date: 07/19/2016

Purchase Type: Not Stated

Delivery Point:

Delivery Date: Not Stated

Special Notices: Pre-Bid Conference Optional 06/10/2016 11:00 AM, Questions Due By 06/20/2016 05:00 PM


Specifications include, but are not limited to:The Commonwealth of Massachusetts Office of the Treasurer and Receiver General (Treasury) operatesa cash management model, which concentrates cash for collection purposes and tracks disbursementsprimarily through controlled disbursement in an effort to maximize its cash position. Cash flows in froma variety of sources (such as: federal drawdowns, Lottery, agency fees, Department of Revenue, incometaxes and other tax accounts). Cash is transferred through various means, described in Attachment A1 Banking and Cash Management System Overview, to the Treasurys main account, which acts as a cashconcentration account. Based on daily cash needs, funds in the concentration account are either investedor used to fund daily needs for disbursements or cash outflows. The Commonwealth maintains a seriesof lockboxes for collection, which transfer to the core depository account. The Treasury also maintains aseries of agency advance checking accounts for various emergency purposes, as outlined in theattachments (Attachment A3) by the Office of the Comptroller.This Request for Response (RFR) is a comprehensive solicitation for the following five components forbanking and lockbox services: Component 1: Core Depository/ Disbursement Services Component 2: Lockbox Operations Component 3: Agency Advance Checking Accounts Component 4: Trial Court Checking Component 5: Registry of Deeds Depository Accounts

Product Code: 94625

Agency Information

Issuing Agency: Commonwealth of Massachusetts - Office of the State Treasurer and Receiver General

State: Massachusetts

Agency Type: State and Local

Contact: Jameel Moore

Phone: 617-367-3900




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