2008/08/27 Council Agenda Packet

t11 • Credit Card Proposal Form: At this time, the City of Everett accepts only Visa and MasterCard. The Credit Card Fee Proposal Form presents a list of credit card transaction types, as defined by Visa and MasterCard. Corresponding to the transaction types are the City's actual transaction amounts, counts, and average tickets for the year 2007. It is the City's desire to understand the composition of proposed credit card fees. To that end, we have provided dedicated columns for interchange fees and association dues charged by Visa and MasterCard, and additional columns for all other bank fees. Space is provided under a separate section for monthly service fees based on number of merchant accounts. Additional space is provided for fees not already identified in the two previous sections. The total fees charged should include all fees your bank would charge for this level and type of activity and number of merchant accounts. • Proposers should submit both a paper and electronic copy of Banking Services and Credit Card proposal forms. 5. No Proposal If a proposer cannot meet a service requirement, then the term "No Proposal" should be entered on the Proposal Form for that specific requirement. In the case of a"No Proposal" remark, the proposer may offer an equivalent alternative service. Failure to propose or offer an equivalent alternative service on all basic services will result in rejection of the proposal. 6. Other Required Information Required financial reports, customer list and documents shall be attached to the proposal. The proposal must include: • Copy of the financial institution's latest financial report. • Name and address of legal entity submitting the proposal. • Legal status of firm or organization, i.e., corporation, partnership, sole proprietorship. • Description of proposing organization including but not limited to size, years of operation, areas of specialization, current credit rating and name of the rating service, and any other pertinent information. The purpose of this description is to help the evaluation committee formulate an opinion regarding the stability and financial strength of the proposer. • Disclose any and all judgments, pending or expected litigation, or other real or potential financial reversals which might materially affect the viability or stability of the proposing organization, or warrant that no such condition is known to exist. • Contract Performance—If the proposer has had a contract terminated during the past five years, all such incidents must be described. Submit full details of all terminations experienced by the proposer during the last five years including the terminating party's name, address, and telephone number. Present the proposer's position on the matter. • If no such terminations for default have been experienced by the proposer in the past five years, the 47 proposer must warrant such. • Acknowledgement of ability to secure insurance amounts and types stipulated.