Loading...
Skip to main content
< Back to results

Cash Deposit Services


Location
Rhode Island
Publication Date
07/22/2019 09:30 AM EDT
Closing Date
08/16/2019 02:00 PM EDT
Issuing Organization
Rhode Island Airport Corporation (RIAC)
Solicitation Number
Description

The Firms will work closely with RIAC representatives and are expected to: 1. Provide depository services with detailed reporting and the below service/requirements at no cost to RIAC. 2. Provide RIAC with an interest rate that is equal to or greater than the 1-month LIBOR rate. 3. Comply with collateralization rules and regulations for public funds as prescribed by State and Federal laws. If full FDIC insurance, or other insurance program acceptable to RIAC, is not in place for monies on deposit at the financial institution, collateral will be maintained at a minimum of 102% for uninsured balances. The Firm must agree to obtain and maintain acceptable collateral sufficient to cover the uninsured balance of all time and demand deposits held by the institution on behalf of RIAC, regardless of their duration. Deposits must be collateralized in a manner acceptable to RIAC and in accordance with R.I. Gen. Law ยง35-10.1. 4. Provide Account Reconciliation capability for RIAC accounts. 5. Provide Automated Clearing House (ACH) or other wire-type mechanisms to transfer RIAC funds to other financial institutions. 6. Provide secure web-based banking and related training to facilitate web-based banking products or tools.

Get instant access

Get instant access to solicitation details & future business opportunities.

to solicitation details & future business opportunities.

Get Access

Vendor packages with access to similar open solicitations

Matching bid notifications & access to all Statewide & Group bid details

Statewide

Matching bid notifications & access to all Statewide & Group bid details

Matching bid notifications from participating agencies

Group

Matching bid notifications from participating agencies

Access participating agency bids

Basic

Access participating agency bids