Specifications include, but are not limited to: 1. Maintain a properly segregated account or accounts for the Treasury on behalf of the abandoned/unclaimed property program. The account or accounts shall be strictly maintained in accordance with applicable laws and regulations.; 2. Receive and deposit into the appropriate account all marketable securities transferred to the Custodian by the Treasury. Receive and deposit into the appropriate account all marketable securities transferred directly to the Custodian by persons other than the Treasury for the benefit of the abandoned/unclaimed property program.; 3. Hold as many of the securities as possible in street name and book entry. To this end, the Custodian shall transfer to the proper street name and book entry system all securities received whether in physical form or electronic form and however registered or in bearer form.; 4. Collect all income that accrues on the securities transferred to the Custodian. Effectuate all corporate actions related to these securities. However, where the Custodian is notified of a choice in effecting any corporate action, request from the Treasury the choice to be made. Effectuate the action chosen by the Treasury; 5. Deliver for sale by an agreed upon broker all securities which it is instructed in writing to sell within 15 days of receipt of the instructions. The agreement of the Custodian to use a specific broker may not be unreasonably withheld. Approval will be withheld for any indication that there may be conflict of interest or a restraint of trade.; 6. All reports required must be delivered within a reasonable time. If a potential custodian cannot meet the following schedule, the proposal submitted must clearly indicate how frequently the reports will be provided. If the potential custodian is successful, the schedule submitted will be mandatory. (Period Reports less than monthly : 5 calendar days / All other reports: 15 calendar days); 7. The Contractor shall issue 1099-B tax forms to all claimants who chose to liquidate their securities and who are paid via check by the Contractor; 8. Deliver to the Treasury and/or provide the Treasury the capability to generate, at a minimum, the following reports: a. A periodic report which includes a listing of all transactions for the period sorted by type and within type by date. It must include at least the CUSIP, security short name, the number of units (if applicable), and the value of transactions. Type must be defined in a way that includes all parts of the transaction, e.g. merger for stock would include both stocks in the transaction. The periodic reporting must be transmitted in a mutually agreed upon electronic form. Include a discussion of the proposed method of transmission in the proposal package.; b. Monthly portfolio evaluation report of securities with a market value, which must include, as a minimum, CUSIP, security short name, number of units held, and the market value as of the day of the report.; c. Monthly detailed transaction report showing all transactions for the period and appropriate supporting detail thereof, in the format generally rendered by the Custodian to similar customers.; 9. On a monthly basis, the Custodian will be required to review and research all securities received or held, to determine an appropriate market valuation. Securities held in book entry or certificate form that are found to be undervalued and/or non-transferrable shall be deemed “worthless” and shall be held in the special sub-account at no cost. The Custodian must describe the process/procedure for handling this account. The Custodian may be requested to liquidate/clear such securities from the account at the direction of the Treasury.
