J.P. MORGAN CHASE BANK-2016 - Laserfiche WebLink

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IV. Time of Performance The services described herein shall be provided for a three (3) year term beginning from the commencement of depository banking services (which shall begin not sooner than January 1, 2017 and not later than July 1, 2017 depending on replacement of the current banking services provider) with an option exercisable by the City for an additional two one (1) year extensions, unless either party provides written notice of its intention not to renew (120) days prior to the end of the then current term. All terms and conditions of the Agreement shall remain effective during any additional renewal term. J.P. Morgan will honor the treasury services pricing submitted in this response for the initial three -year contract term. Any changes to the fee schedule for the remaining two additional one -year periods will be subject to the mutual agreement of the bank and the City and negotiation of mutually acceptable revised pricing terms. V. Cost of Providing Services (Fees) A. Proposals shall indicate all fees that would be charged to the City. Pricing submissions will be required to use the City's format to be considered in the selection process. Please refer to Attachment 6A & 6B for all pricing information. As indicated in Section A. Letter of Transmittal, J.P. Morgan is pleased to provide the City with a service fee credit of up to $ro,000 to be applied to analysis for use over the initial (3) year contract period. This waiver is valid to offset traditional Treasury Service fees that are incurred by the City and billed to analysis (not including merchant services fees). The credit may be used in whole or in part over the initial 3Yr contract period. For illustrative proposes, we have included this credit as a line item at the bottom of the City's "Cost /Bid Proposal Form" and have assumed utilization over the 3Yr contract. A mandatory "COST /BID PROPOSAL FORM" along with supplemental attachments is included as part of this RFP to assist you in detailing the fees charged by your bank and to provide you an estimate of the volume of the City's banking activities. Any proposal submitted with merely the Proposer's standard fee schedule attached, as a response to the requested pricing of specified services, will be considered incomplete. The completed COST /BID PROPOSAL FORM and supplemental attachments will become an exhibit to the final contract for the selected bidder. J.P. Morgan acknowledges the requirement. B. The City has historically recouped the costs of banking services primarily with compensating balances and desires to settle Account Analysis deficiencies annually. Settlement schedules maybe negotiated to include monthly, quarterly, semi- annual and annual settlement periods. •