Request for Proposal Custody and Accounting Services for Securities by umsymums38

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									 Request for Proposal: Custody and Accounting Services for Securities
                 Virginia Department of the Treasury
                   Division of Unclaimed Property

                                RFP UCP 09-002
                             Issued August 18, 2008

                                 Addendum 1
                           Issued September 22, 2008

               This Addendum incorporates certain general comments, general
corrections to the RFP, and answers to questions posed during the optional pre-
proposal conference held on September 15, 2008. Participants at the Optional Pre-
proposal Conference were required to register their attendance and to provide their
business cards and fax numbers. A list of all attendees at the conference is enclosed
for informational purposes.

General Changes to the RFP:

Reference Section XI Pricing Schedule

On page 26, The first sentence with an asterisk is changed to read: *
Administrative fee waived if claim is transferred into the owners name more than 21
days within transfer request from Treasury.

Questions and Answers:

1. Other than the Pre-proposal conference, is there an opportunity to present
   additional questions for clarification? If so, what is the deadline?

   All inquiries for information should be directed to: Kelley Denton, Purchasing
   Officer, by phone (804) 786-4741, by fax (804) 225-3187 or e-mail
   kelley.denton@trs.virginia.gov. E-mail inquiries are preferred.

   No deadline was established.

2. Understanding the contract period is from Jan 1, 2009 - Dec 31, 2009, can
   the Department of the Treasury provide further timeline as to when they expect
   to select the two finalist and when they expect to make it's final selection?

   An award may be made in December.
3. Can the Division of Unclaimed Property provide transaction volumes as it
   relates to each of the following transaction type / requests for 2008 year to
   date?



  Annual Volume of Physical Certificate Received
  Annual Volume of Depository Receive and Depository Delivery (Book Entry
  DTC or FED)
  Annual Volume of Physical Certificate Delivered (Issued)
  Annual Volume of Re-registrations of Certificate Requests
  Annual Volume of Direct Registration Transactions (Statements)
  Annual Volume of Total Number of Claims Processed
  Annual Volume of Total Number of Mutual Funds transactions processed
  Annual Volume Total Number of Mutual Fund Accounts Required
  Annual Volume of Total Number of Wires (Cash Payments)
  Annual Volume of Total Number of Checks Issued

   Please see attached.

4. Can you provide a detailed list of assets held (holdings) including but not
   limited to the following fields in EXCEL file / format per account including
   Mutual Funds:

  Cusip,
  Security Description,
  Par Amount/Units
  Price
  Market Value
  Rate,
  Maturity Date,
  Depository (DTC or FED)

   Please see attached.

5. Can you provide a copy of your existing fee schedule / arrangement with your
   current service provider including but not limited by the following:

  Administrative Fee per issue
  Administrative Fee Per Claim Paid with earning calculation
  Administrative Fee Per Claim Paid with out earnings calculation
  Investment Fee: Basis
  Per Share Cost of Shares Sold
  Per Bond Cost of Bonds Sold
  Mutual Fund Claim Calculation
  Additional Fees May Include the following:
  Account charges if any ..
  Per Issue Holdings Fee if any ..
  Per Transaction Fees other if any
  Accounting Fee if any
  Transfer Fees if any

   Please see attached.

6. Does the Division of Unclaimed Property require the custodian to calculate
   accumulated earnings per claim once paid or during the normal course of
   business? Can you provide a sample?

   The Division of UCP may require the custodian to calculate the accumulated
   earnings to pay claims. See sample attached.

7. Does the Division of Unclaimed Property require the custodian to provide an
   image of each certificate received? If so, please advise the acceptable format (ie
   PDF)? And, can you provide a sample?

   The custodian does not have to provide an image of each certificate received.
   Treasury should be able to view the receipt to our account on-line.

8. Does the Current Custodian provide you an IRS 1099 Form at the account level
   for the Division of Unclaimed Property or is it required to send out an IRS 1099
   form for each claimant?

   The Custodian will provide 1099’s for all calculation that they prepare to each
   claimant. For those claims where Treasury prepares the calculation and requests
   the Custodian to transfer, Treasury will provide the 1099 to the claimant.


9. Does the Division of Unclaimed Property require the Custodian to sells securities
   (ie broker execution) or Does the Division award an annual contract from
   Transition Management Services? Please elaborate on how you liquidate your
   holdings?

   The Custodian will be responsible for liquidating securities (handling the broker
   execution). Treasury does not have a separate contract for liquidation of
   unclaimed property securities.

10. How are points allocated on the SWAM plan?

   Firms that are certified with DMBE that respond will receive 20 points. Firms
   that are not certified by DMBE will receive credit based on their Small Business
   Subcontracting Plan not to exceed 75% of the points assigned to the evaluation
   criterion. Points will be assigned based on each offeror’s proposed
   subcontracting expenditures with DMBE small businesses for the initial contract
   period as indicated in the submitted subcontracting plan in relation to each
   offeror’s total price. The Offeror’s proposed subcontractor use of DMBE
   certified small businesses is divided by the Offeror’s total proposed price. The
   quotient is then multiplied by the points assigned for the criteria to determine
   the evaluation points to be assigned.

11. Are DMBE firms required to be located in Virginia?

   No, the firms must be certified by DMBE.

12. Can Division of Unclaimed Property provide a sample of their existing
    accounting reports required?

   Please see attached.

13. Is the administrative fee that is referenced on page 26 going to be waived in the
    30 days that is indicated or is that misstated?

   It is misstated and it should read: Administrative fee waived if claim is
   transferred into the owners name more than 21 days after transfer request from
   Treasury unless extraordinary circumstances warrant on a case by case basis.

14. Would the Commonwealth consider moving to a monthly method of payment?

   Yes

15. Page 6, item 17 indicates that we must be able to compute earnings history for
   an issue. Would this calculation be only for the earnings directly associated with
   the issue or are you hoping to include money market interest earned on top of
   the earnings? The former is straight forward, the latter would be difficult to do
   with perfect accuracy given the constant change in interest rates.

   This calculation would be only for the earnings directly associated with the issue
   requested.

16. Page 12, item A.10 requires an SAS to be provided as of June 30. Our SAS
    reports are available as of September 30, with a bridge letter for calendar year-
    end. Would the Division of Unclaimed Property consider accepting alternative
    dates?

   Yes

								
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