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J.P. MORGAN CHASE BANK-2016
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J.P. MORGAN CHASE BANK-2016
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Last modified
3/31/2017 12:58:30 PM
Creation date
1/10/2017 3:43:03 PM
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Contracts
Company Name
JP MORGAN CHASE BANK
Contract #
A-2016-366
Agency
FINANCE & MANAGEMENT SERVICES
Council Approval Date
12/6/2016
Expiration Date
12/31/2019
Insurance Exp Date
6/1/2017
Destruction Year
0
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Submit your Bank's pricing proposal indicating all fees that would be charged to the <br />City. Fee proposals must be submitted using the City's format to be considered in the <br />selection process. A mandatory "COST /BM PROPOSAL FORM "is shown in <br />Attachment 6, 6A & 6B. <br />In the attached pricing proposal, the City will notice that we have made an effort to <br />remain as competitive as possible by reducing pricing where feasible. We have made <br />pricing reductions to 13 line items including ACH, eLockbox, and Image Cash Letter <br />products. With these adjustments, the City should see a noticeable reduction in these <br />fees on an annual basis. <br />Additionally, due to the increasing costs associated with the handling and depositing of <br />cash through both Vault and Branch locations, we have adjusted two line items to <br />account for these rising costs. These changes are made to account for the manual non- <br />standard processing of both bulk coin and strapped currency deposits. As your solutions <br />provider, we will work with the City to refine your current process for depositing bulk <br />coin and strapped currency to ensure it follows the Fed's recommended guidelines for <br />standard processing. (Please see page 39) By making a few simple changes, your deposits <br />will follow the standard process for bulk cash and coin deposits which should reduce the <br />costs for processing these deposits. <br />We have provided two pricing scenarios below to assist the City in identifying impacted <br />service codes. We provide additional details under the Vault Deposit section on page 39 <br />on how the City can mitigate these costs as we work with you to improve your current <br />bulk cash and coin deposit process. <br />Finally, we have provided two attachments to the Cost /Bid Proposal for additional <br />pricing details around treasury services and products: <br />t. Comprehensive Fee Sheet — Inclusive of all line item pricing including the Additional <br />Services we have provided in our response. <br />2. Annualized Proforma — This pricing sheet provides the new line item pricing along <br />with the adjusted volumes for the depositing of bulk coin. The City will notice a <br />savings associated with following Fed - standard processes. <br />Page 16 J.P. Morgan <br />
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