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

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8. Permits and Licenses - The selected Financial Banking Institution shall procure all permits and licenses, pay all charges, fees, and taxes, and give all necessary notices. 9. Selection - The final award of an agreement or agreements is subject to approval by the elected officials governing the awarding body. 10. Subcontractors - The City reserves the right to reject, replace, and approve any and all subcontractors. All subcontractors shall be identified in the response to the RFP and the City reserves the right to reject any subcontractor(s). If the City approves, the primary Financial Banking Institution will be responsible for subcontractors and the City shall assume no liability of such subcontractors. 11. Rules for Proposals - The signer of the RFP must declare in writing that the only person, persons, company, or parties interested in the proposal as principals are named therein; the signer must also declare in writing that the proposal is made without colluding with any other person, persons, company, or parties submitting a proposal; lastly, the signer must declare in writing that it is in all respects fair and in good faith without collusion or fraud, and that the signer of the proposal has full authority to bind the proposer. 12. Payment Schedules - The City of Santa Ana and the selected Financial Banking Institution will negotiate the payment schedule(s) based on defined and measurable milestones and deliverables. Under no circumstances will payments be made in advance of work performed. 13. Project completion Holdback — Where the City of Santa Ana and the selected Financial Banking Institution negotiate for the future completion and delivery of a specified project /response item, the City will require a 10% holdback of Agreement monies until project /response item completion, delivery, and project approval. City of Santa Ana — Banking Services Page 36