2-RFP GMU-ER0408-25 Underwriting Services FINAL 07.29.2025.docx

REQUEST FOR PROPOSALS

GMU-ER0408-25

ISSUE DATE: July 29, 2025

TITLE: Underwriting Services

QUESTIONS/INQUIRIES: Submit all inquiries through Mason’s Bonfire Portal, no later than 4:00 PM Eastern Time (ET) on August 11, 2025. All questions must be submitted through Mason’s Bonfire portal. For assistance with technical questions related to Bonfire, contact Support@GoBonfire.com or visit Bonfire’s help forum at https://vendorsupport.gobonfire.com/hc/en-us. Responses to questions will be posted to Mason’s Bonfire portal and by 5:00 PM ET on August 15, 2025.

PROPOSAL DUE DATE AND TIME: August 28, 2025 @ 2:00 PM ET. ATTENTION: PROPOSALS WILL NOT BE ACCEPTED VIA EMAIL, MAIL, THROUGH eVA OR IN PERSON. SEE SECTION XII.A.1 FOR DETAILS ON ELECTRONIC PROPOSAL SUBMISSION.

IMPORTANT! All communication with Offerors will take place in Bonfire, to include negotiations. Mason can only message individuals at your organization that have interacted in Bonfire for this specific RFP. Please ensure the appropriate person to handle negotiations and other RFP communication has individually logged into the system and either downloaded documents, submitted your proposal or asked a question.

In Compliance With This Request For Proposal And To All The Conditions Imposed Therein And Hereby Incorporated By Reference, The Undersigned Offers And Agrees To Furnish The Goods/Services In Accordance With The Attached Signed Proposal Or As Mutually Agreed Upon By Subsequent Negotiations.

Name and Address of Firm:

Legal Name: Date:

DBA:

Address:

By:

Fax No. Title:

Email: Telephone No.

SWaM Certified: Yes: No: (See Section VII. SWaM CERTIFICATION for complete details).

SWaM Certification Number:

Check the box next to the option that applies to your proposal submission. See section IV. Final Contract for additional information.

Purchasing Department 4400 University Drive, MS 3C1, Fairfax, VA 22030 Phone: 703.993.2580; http://fiscal.gmu.edu/purchasing/

☐ Option 1: Full Acceptance:

1. We have reviewed Mason’s Standard Contract and all related documents.

2. We have no proposed changes.

3. We understand that if we are advanced to negotiations, no contract exceptions, redlines, vendor documents, or additional terms will be considered, unless proposed by Mason.

☐ Option 2: Proposed Exceptions and/or Additional Documents Submitted:

1. We have reviewed Mason’s Standard Contract and all related documents.

2. We have included a list of proposed exceptions and/or redlined contract documents with our proposal.

3. We understand that if we are advanced to negotiations, no additional contract exceptions, redlines, vendor documents, or additional terms will be considered beyond what has been submitted with our proposal, unless proposed by Mason.

This public body does not discriminate against faith-based organizations in accordance with the Governing Rules, § 36 or against a Bidder/Offeror because of race, religion, color, sex, national origin, age, disability, or any other prohibited by state law relating to discrimination in employment.

OFFEROR PROPOSAL SUBMISSION CHECKLIST

Offerors responding to this RFP should use this checklist to ensure all requested documents are completed and submitted with their proposal.

· RFP Cover Page, accurately filled in and signed with checked off box confirming your proposal contains any exceptions to Mason’s Standard Contract and all terms and conditions or subsequent Statements of Work that could apply over the life of any resulting contract.

· All addenda, if any were issued and a signature line is included.

· Attachment A - Small Business Subcontracting Plan. This is a requirement for all Offerors.

· Exceptions, red-lines or any other changes(if any) to Mason’s Standard Contract.

· Any Statements of Work or supplemental document(s) Mason may be required to sign or that could potentially be incorporated into a final contract or apply during the term of a resulting contract.

· Any agreement that Mason would be required to sign with a third party.

· Ensure your proposal contains all information requested and answers all questions outlined in section XII.B. Specific Requirements. Your proposal must include a response to each of these questions listed at the end of this section.

1. Are you and/or your subcontractor currently involved in litigation with any institution of higher education or a state or federal entity?

2. Please list any investigation, action, or lawsuit from any institution of higher ed or any state, local, federal or other regulatory body (OSHA, IRS, DOL, etc.) related to your firm or any subcontractor in the last three years.

3. In the past ten (10) years has your firm’s name changed? If so, please provide a reason for the change.

· If your proposal contains proprietary information, you must submit a second copy in accordance with Section XII.A.1. General Requirements and Section XII.A.2.d. that outlines the specific submission format.

TABLE OF CONTENTS

GMU-ER0408-25

SECTION DESCRIPTION PAGE

I. PURPOSE 3

II. PURCHASING MANUAL/GOVERNING RULES 3

III. COMMUNICATION 3

IV. FINAL CONTRACT 3

V. ADDITIONAL USERS 3

VI. eVA BUSINESS-TO-GOVERNMENT VENDOR REGISTRATION 5

VII. SWaM CERTIFICATION 5

VIII. SMALL BUSINESS SUBCONTRACTING PLAN 5

IX. PERIOD OF PERFORMANCE 5

X. BACKGROUND 5

XI. STATEMENT OF NEEDS 6

XII. PROPOSAL PREPARATION AND SUBMISSION REQUIREMENTS 6

XIII. INITIAL EVALUATION CRITERIA AND SUBSEQUENT AWARD 9

XIV. CONTRACT ADMINISTRATION 9

XV. SOLICITATION TERMS AND CONDITIONS 8

XVI. RFP SCHEDULE 11

ATTACHMENT A SMALL BUSINESS SUBCONTRACTING PLAN 12

ATTACHMENT B STANDARD CONTRACT 14

I. PURPOSE: The purpose of this Request for Proposal (RFP) is to solicit proposals to establish contracts through competitive negotiations with a a pool of qualified firms to provide underwriter services (the “Pool”) for the Treasury Department of George Mason University. George Mason University (herein after referred to as “Mason,” or “University”) is a public institution of higher education and agency of the Commonwealth of Virginia.

The awarded Pool of underwriters will be under contract and available if and when Mason decides to go to market for bond issuances and other capital markets related activities.

Members of the Pool are expected to provide services typically associated with the preparation of negotiated bond sales. For each transaction the University will select a senior manager and may also select co-managers. This may include all or a portion of the firms in the Pool based on the size and complexity of the financing. The selection of a firm to be part of the Underwriter Pool does not guarantee that the University will use that firm on any transaction or guarantee any work.

No payment will be issued until Mason elects to engage Contractors services for bond issuance at a later date.

See Section XI Statement of Needs for further detail.

II. PURCHASING MANUAL/GOVERNING RULES: This solicitation and any resulting contract shall be subject to the provisions of the Commonwealth of Virginia Purchasing Manual for Institutions of Higher Education and their Vendor's, and any revisions thereto, and the Governing Rules, which are hereby incorporated into this contract in their entirety. A copy of both documents is available for review at: https://vascupp.org

III. COMMUNICATION: Communications regarding the Request For Proposals shall be formal from the date of issuance until a contract has been awarded. Unless otherwise instructed offerors are to communicate with only the Procurement Officers listed on the cover page. Offerors are not to communicate with any other employees of Mason.

IV. FINAL CONTRACT: ATTACHMENT B to this solicitation is Mason’s standard two-party contract. It is the intent of this solicitation to base the final contractual documents off of Mason’s standard two-party contract and Mason’s General Terms and Conditions as outlined in Attachment B – Standard Contract. Any exceptions to our standard contract and General Terms and Conditions must be denoted in your RFP response. Other documents may be incorporated into the final contract, either by way of attachment or by reference, but in all cases this contract document and Mason’s General Terms and Conditions shall jointly take precedence over all other documents and will govern the terms and conditions of the contract.

As a public institution of higher education and agency of the Commonwealth of Virginia, Mason cannot agree to any of the following terms in any documents:

A. An express or implied waiver of sovereign immunity.

B. An agreement to indemnify, defend or hold harmless any entity.

C. An agreement to maintain insurance.

D. An agreement providing for binding arbitration.

E. An agreement providing for the payment of attorneys' fees, costs of collection, or liquidated damages.

F. Waiver of jury trial.

G. Choice of law or venue other than the Commonwealth of Virginia.

Contracts will only be issued to the FEI/FIN Number and Firm listed on the signed cover page submitted in your RFP response. Joint proposals will not be accepted.

Note: The Offeror must include any and all terms and conditions, additional documents, and/or statements of work that could potentially be incorporated into a final contract or apply during the term of a resulting contract. As outlined in Attachment B – Standard Contract, Statements of Work (“SOW”) for specific engagements may only include the work to be performed during scope of the specific engagement. Additional terms and conditions will not be accepted on any SOW submitted during the course of the contract. All SOW’s must be on a form approved by Mason prior to the start of the contract.

In addition to the above note, the Offeror must submit with their proposal any agreement that Mason would be required to sign with a third party.

V. ADDITIONAL USERS: It is the intent of this solicitation and resulting contract(s) to allow for cooperative procurement. Accordingly, any public body, public or private health or educational institutions, or affiliated corporations may access any resulting contract if authorized by the contractor.

Participation in this cooperative procurement is strictly voluntary. If authorized by the Contractor(s), the resultant contract(s) will be extended to the entities indicated above to purchase goods and services in accordance with contract terms. As a separate contractual relationship, the participating entity will place its own orders directly with the Contractor(s) and shall fully and independently administer its use of the contract(s) to include contractual disputes, invoicing and payments without direct administration from the University. No modification of this contract or execution of a separate agreement is required to participate; however, the participating entity and the Contractor may modify the terms and conditions of the contract to accommodate specific governing laws, regulations, policies, and business goals required by the participating entity. Any such modification will apply solely between the participating entity and the contractor.

The University may require the Contractor provide semi-annual usage reports for all entities accessing the contract. The University shall not be held liable for any costs or damages incurred by any other participating entity as a result of any authorization by the Contractor to extend the contract. It is understood and agreed that the University is not responsible for the acts or omissions of any entity and will not be considered in default of the contract no matter the circumstances.

Use of the resulting contract(s) does not preclude any participating entity from using other contracts or competitive processes as needed.

VI. eVA BUSINESS-TO-GOVERNMENT VENDOR REGISTRATION: The eVA Internet electronic procurement solution, website portal www.eVA.virginia.gov, streamlines and automates government purchasing activities in the Commonwealth. The eVA portal is the gateway for vendors to conduct business with state agencies and public bodies. All vendors desiring to provide goods and/or services to the Commonwealth shall participate in the eVA Internet eProcurement solution by completing the free eVA Vendor Registration. All bidders or offerors agree to self-register in eVA and pay the Vendor Transaction Fees prior to being awarded a contract. Registration instructions and transaction fees may be viewed at: https://eva.virginia.gov/

VII. SWaM CERTIFICATION: Vendor agrees to fully support the Commonwealth of Virginia and Mason’s efforts related to SWaM goals. Upon contract execution, eligible vendors (as determined by Mason and the Virginia Department of Small Business and Supplier Diversity) shall submit all required documents necessary to achieve SWaM certification to the Department of Small Business and Supplier Diversity within 90 days. Vendors currently SWaM certified agree to maintain their certification for the duration of the contract and shall submit all required renewal documentation at least 30 days prior to existing SWaM expiration. https://www.sbsd.virginia.gov/

VIII. SMALL BUSINESS SUBCONTRACTING PLAN: All potential offerors are required to fill out and submit Attachments A with their proposal.

Note: Invoices shall only be submitted to Mason by the entity awarded a contract. Subcontractors cannot submit invoices to Mason under any resulting contract.

IX. PERIOD OF PERFORMANCE: Three (3) year base term with five (5), successive, one-year renewal options from Effective Date (or as negotiated).

X. BACKGROUND: George Mason University is a diverse, innovative and entrepreneurial institution with global distinction in a range of academic fields. Located just outside Washington, D.C., our beautiful 677-acre residential campus boasts a diverse student population. Over 6,200 students live on campus in over 40 residence halls.

As the largest public research institution in Virginia, Mason enrolls more than 40,000 students in over 210-degree programs at the undergraduate, master's, doctoral, and professional levels. Students at all levels are routinely recognized with national and international scholarships and awards. Faculty members have received some of academia's highest honors, including twice winning the Nobel Prize in Economics.

The Carnegie Classification of Institutions of Higher Education has placed Mason in the top tier (or R1) of research universities in the U.S. This level of research activity, and our prime location in the D.C. area, results in engaged and dedicated faculty members who are at the top of their respective fields. This connectivity extends to our students, who take advantage of our unparalleled internship and research opportunities, and who secure careers at national and international companies and organizations, ranging from National Geographic, the Smithsonian Institution and Amazon to the CIA and the White House. Many of our innovative degree programs are the first of their kind, including the first Ph.D. program in biodefense, the first D.C.-based undergraduate program in Conflict Analysis and Resolution, the first dedicated Cybersecurity Engineering program in the region, and one of the most innovative performing arts management programs in the United States. Mason is at the forefront of the emerging field of biotechnology, is a leader in the performing arts, and holds a preeminent position in the fields of economics, electronic journalism, and history.

As a testament to the University’s success, in 2021 the Commonwealth granted Mason “Tier 3” authorization, which is the highest level of institutional management autonomy granted to Virginia public colleges and universities. This was a milestone achievement for Mason, the Commonwealth’s youngest public research institution. This Tier 3 authorization came at the heels of Mason’s strong issuer credit rating from Moody’s Investors Service. Mason holds a rating of ‘Aa3’ with a Stable Outlook on account of the University’s excellent strategic position, market strength, and robust growth.

XI. STATEMENT OF NEEDS: Mason is seeking a contractor(s) that can provide underwriting services including but not limited to the below listed items:

· Participate with Mason, Mason’s general counsel, bond counsel, and financial advisor in the development of a plan of finance for issuances of any obligations.

· Identify investors who are most likely to purchase the offering(s) at rates most favorable to Mason. Assist Mason, as required, in the preparation and presentation of information regarding the financing plan and the bond issue to the rating agencies, investors and other entities as needed.

· Provide market updates to assist in long- and near-term financial planning.

· Respond to requests for information on potential financing needs and present ideas that Mason may consider for contemplated financings and ongoing debt financing planning, at the direction of the University.

· Provide ideas and feedback to assist in the development and implementation of a plan of finance.

· Provide bond sizing and other quantitative analysis to be used in developing a plan of finance.

· Participate as a key member of the working group.

· Comment and review bond documents, University disclosure documents, the preliminary Official Statement, the final Official Statement, Bond Purchase Agreement, tax certificate, and other relevant financing documents.

· Perform due diligence in conjunction with each financing.

· Advise and assist in preparing for rating agency calls or meetings if requested.

· Assess alternative financing structures as needed and proposed.

· Assist in the procurement and negotiation of credit and liquidity support products, if needed and requested.

· Provide recommendations on the timing of bond issues, maturity and amortization structure, coupon selection, and call provisions, among others.

· Coordinate the work of the underwriting syndicate, including obtaining price views, providing opportunities to sell bonds, and implementing the designation rules and allocation guidelines established by the University. Provide GameDay access or equivalent to monitor order flow. Obtain CUSIPs and manage all sale day logistics.

· Supervise the closing of the transaction (s) and the transfer of funds.

· Provide continuing and ongoing secondary market support of Mason’s bonds after the closing of the transactions.

· Market and price the bonds with quality execution, including ability and willingness to underwrite a reasonable portion of unsold inventory if necessary.

· Prepare a closing memorandum and assist the working group in a timely closing.

· Prepare a post-sales analysis to record market conditions, investor allocation of bonds, orders and allocations of bonds among the underwriting team, rates received by comparable issues at the time of sale, and any other necessary information required by Mason.

· Provide regular reports setting forth the market conditions prior to, during and after the sale of bonds, summarizing the reception of the bonds in the market and evaluating performance relative to the market and other comparable securities.

· Provide other related services as required.

XII. PROPOSAL PREPARATION AND SUBMISSION REQUIREMENTS:

A. GENERAL REQUIREMENTS:

1. RFP Response: In order to be considered, Offerors must submit a complete response to Mason's Purchasing Office prior to the due date and time stated in this RFP. Offerors are required to submit one (1) signed copy of the entire proposal including all attachments and proprietary information. If the proposal contains proprietary information, then submit two (2) proposals must be submitted; one (1) with proprietary information included and one (1) with proprietary information removed (see 2.d. below for details on how to submit a redacted proposal). The Offeror shall make no other distribution of the proposals.

At the conclusion of the RFP process proposals with proprietary information removed (redacted versions) shall be provided to requestors in accordance with Virginia’s Freedom of Information Act. Offerors will not be notified of the release of this information.

An Offeror may not request any of the following be proprietary and/or confidential in their proposal:

a. Pricing or any calculation used to determine pricing;

b. A notation or footer on the bottom of every page with “proprietary and confidential;”

c. Entire contents of company history or executive summary;

d. A case study, social media post, or billboard already available to the public;

e. Name of company or firm listed as a reference;

f. Any resulting Statement of Work (SOW), Order Form, or Invoice.

ELECTRONIC PROPOSAL SUBMISSION: ATTENTION: PROPOSALS WILL NOT BE ACCEPTED VIA EMAIL, MAIL, THROUGH eVA, OR IN PERSON. Mason will only accept electronic proposal submissions via Bonfire for this Request for Proposals.

The following shall apply:

a. You must register with Bonfire and submit your proposal, and it must be received prior to the submission deadline, by submitting through the online Bonfire portal at https://gmu.bonfirehub.com.

b. The Offeror must ensure the proposals are uploaded and submitted through Bonfire sufficiently in advance of the proposal deadline. Plan Ahead: It is the Offeror’s responsibility to ensure that electronic proposal submissions have sufficient time to make its way through Bonfire’s submission portal. Mason recommends you submit your proposal the day prior to the due date.

c. Submissions by other methods will not be accepted. Minimum system requirements: Microsoft Edge, Google Chrome, Safari, or Mozilla Firefox. JavaScript and browser cookies must be enabled.

d. Respondents should contact Bonfire at support@gobonfire.com for technical questions related to submission or visit Bonfire’s help forum at https://vendorsupport.gobonfire.com/hc/en-us.

e. Submission materials should be prepared in the file formats listed under Requested Information for this opportunity in the Bonfire Portal. The maximum upload file size is 1000 MB. Documents should not be embedded within uploaded files, as the embedded files will not be accessible or evaluated.

f. All solicitation schedules are subject to change.

g. Go to Mason’s Bonfire Portal for all updates and schedule changes. https://gmu.bonfirehub.com

h. All communication with Offerors will take place in Bonfire, to include negotiations. Mason can only message Offerors that have interacted with this specific RFP. Please ensure the appropriate person to handle negotiations and other RFP notifications has submitted the Offerors proposal in Bonfire.

2. Proposal Presentation:

a. Proposals shall be signed by an authorized representative of the Offeror. All information requested must be submitted. Failure to submit all information requested may result in your proposal being scored low.

b. Proposals should be prepared simply and economically, providing a straightforward, concise description of capabilities to satisfy the requirement of the RFP. Emphasis should be on completeness and clarity of content.

c. Proposals should be organized in the order in which the requirements are presented in the RFP. All pages of the proposal should be numbered. Each paragraph in the proposal should reference the paragraph number corresponding section of the RFP. It is also helpful to cite the paragraph number, sub letter and repeat the text of the requirement as it appears in the RFP. The proposal should contain a table of contents which cross references the RFP requirements. Information which the Offeror desires to present that does not fall within any of the requirement of the RFP should be inserted at the appropriate place or be attached at the end of the proposal and designated as additional material.

A WORD version of this RFP will be provided upon request.

d. Except as provided, once an award is announced, all proposals submitted in response to this RFP will be open to inspection by any citizen, or interested person, firm or corporation, in accordance with the Virginia Freedom of Information Act. Trade secrets or proprietary information submitted by a firm prior to or as part of its proposal will not be subject to public disclosure under the Virginia Freedom of Information Act only under the following circumstances: (1) the appropriate information is clearly identified by some distinct method such as highlighting or underlining; (2) only the specific words, figures, or paragraphs that constitute trade secrets or proprietary information are identified; and (3) a summary page is supplied immediately following the proposal title page that includes (a) the information to be protected, (b) the section(s)/page number(s) where this information is found in the proposal, and (c) a statement why protection is necessary for each section listed. A statement simply noting “trade secret” is not a sufficient reason for redaction. The firm must also provide a separate attachment of the proposal with the trade secrets and/or proprietary information redacted. If all of these requirements are not met, then the firm’s entire proposal will be available for public inspection.

IMPORTANT: A firm may not request that its entire proposal be treated as a trade secret or proprietary information, nor may a firm request that its pricing/fees be treated as a trade secret or proprietary information, or otherwise be deemed confidential. If after given a reasonable time, the Offeror refuses to withdraw the aforementioned designation, the proposal will be rejected.

3. Oral Presentation: Offerors who submit a proposal in response to this RFP may be required to give an oral presentation/demonstration of their proposal/product to Mason. This will provide an opportunity for the Offeror to clarify or elaborate on their proposal. Performance during oral presentations may affect the final award decision. If required, oral presentations will be scheduled at the appropriate time.

Mason will expect that the person or persons who will be working on the project to make the presentation so experience of the Offeror’s staff can be evaluated prior to making selection. Oral presentations are an option of Mason and may or may not be conducted; therefore, it is imperative all proposals should be complete.

B. SPECIFIC REQUIREMENTS: Proposals should be as thorough and detailed as possible to allow Mason to properly evaluate the Offeror’s capabilities and approach toward providing the required services. Offerors should submit the following items as a complete proposal. Proposals should be 11-point or larger and should not exceed 20 pages in length, excluding the procedural information, executive summary, and resumes.

1. Procedural information:

a. Return signed cover page and all addenda, if any, signed and completed as required.

b. Return Attachment A - Small Business Subcontracting Plan.

c. Exceptions (if any), including redlines (if any), to Mason’s two-party contract, Attachment B.

d. Any SOW or supplemental document Mason may be required to sign. See section IV. Final Contract

2. Executive Summary: Submit an executive summary at the beginning of the proposal response not to exceed 2 pages.

3. Identify the specific personnel who will have responsibility for working with Mason on a regular basis. Who will serve as the day-to-day lead banker? Please also identify specialists with whom Mason will work with directly, including the syndicate contact who will oversee pricing. Include brief resumes for all relevant personnel in an appendix.

4. State the total capital and net available capital position of your firm as of December 31, 2024 and how much it is authorized to underwrite. Please include a case study highlighting your firm’s ability to use its balance sheet to underwrite bonds and support strong pricing for Mason’s bonds.

5. Provide a summary table of your firm’s sole, senior, co-senior, and co-manager underwriting experience for higher education entities beginning January 1, 2020. Please include the following information:

a. Transaction Date

b. Borrower

c. Series

d. Ratings

e. Par Amount

f. Tax-Exempt or Taxable

g. Fixed or Variable Rate

h. Role (Sole Manager, Senior Manager, Co-Senior Manager, Co-Manager, Remarketing Agent, etc.)

6. Provide case studies for up to three recent higher education revenue bond financings completed since January 1, 2023 that demonstrate your firm’s strengths in providing underwriting services or is a unique financing structure that may be relevant to Mason.

7. Provide three references for recent financings where the primary contact from your firm was a lead or a significant participant in the financing. In your response, please include the name of the institution, contact person (name, phone number, email address) and relevant details (e.g., sale date, ratings, par amount, firm role, banking team composition, and the primary underwriter) of the most recent transaction.

8. Provide your views on Mason’s debt capacity at its current ratings and key credit considerations.

9. Comment on the University’s debt structure. Are there opportunities the University should consider, taking into consideration the University’s initiative to build an internal bank?

10. Mason is contemplating establishing a commercial paper program (size/taxable/tax-exempt). Please describe your experience helping clients launch a commercial paper program and/or serving as a commercial paper dealer.

11. Please provide taxable and tax-exempt scales, indicating coupons, yields and relevant spreads to benchmark. Please also provide pricing for put bonds and hard maturity structures and discuss merits of these structures in the current market. We ask that you use market data as of end of trading on DATE.

12. Please articulate your approach to marketing Mason’s bonds and positioning the University’s credit with investors, including whether an investor roadshow is needed. Discuss the type(s) of investors likely interested in Mason’s transaction and your firm’s suitability to reach those investors.

13. List any potential conflicts of interest that may exist if your firm is selected as underwriter.

14. Discuss any outstanding legal issues that may adversely affect your firm’s ability to underwrite future bond issues, or compliance issues to which your firm is a party, including pending or threatened litigation or regulatory activities.

15. Identify and discuss any professional sanctions, fines, and suspensions received by any member of your engagement staffing team.

16. Describe your financial institution’s capabilities in providing credit solutions and highlight the key staff members who will be working with Mason. Your organization’s willingness to provide an attractive credit proposal will be viewed positively but is not the only consideration for participation in the underwriting syndicate.

17. Please comment on mix of products available to the University and indicate tenor or other structural considerations.

18. Indicate your institution’s credit capacity for Mason.

19. Pricing Scenario: Offerors should respond to the following pricing scenario as part of their offer to produce a representative cost/compensation structure for the following scenario:

Please provide indicative estimated costs of issuance for both taxable and tax-exempt 30-year bullet structures. For the tax-exempt option, assume a 10-year par call feature. Include breakdowns by major category (e.g., underwriter's discount, legal, rating agency, trustee, etc.) where possible and include a detailed breakdown of fees and explanations of those fees and compensation for such a scenario .

Rates must include travel-related expenses if Offeror is traveling within a 50-mile radius of Mason's Fairfax campus. If Offeror is traveling from outside a 50-mile radius of the Fairfax Campus, travel will only be reimbursed in accordance with Mason's polices, http://fiscal.gmu.edu/travel/, and GSA per diem rates.

20. In your proposal response please address the following:

a. Are you and/or your subcontractor currently involved in litigation with any institution of higher education or a state or federal entity?

b. Please list any investigation, action, or lawsuit from any institution of higher ed or any state, local, federal or other regulatory body (OSHA, IRS, DOL, etc.) related to your firm or any subcontractor in the last three years.

c. In the past ten (10) years has your firm’s name changed? If so, please provide a reason for the change.

XIII. INITIAL EVALUATION CRITERIA AND SUBSEQUENT AWARD:

A. INITIAL EVALUATION CRITERIA: Proposals shall be initially evaluated and ranked using the following criteria:

Description of Criteria Maximum Point Value

1. Quality of products/services offered and suitability for the intended purpose 30

2. Qualifications and experiences of offeror in providing the goods/services, including references 30

3. Specific plans or methodology to be used to provide the services including response to pricing scenario 30

4. Offeror is certified as a small, minority, or women-owned business (SWaM) with Virginia SBSD at the proposal due date & time. 10 Total Points Available: 100

B. AWARD: Following the initial scoring by the evaluation committee, at least two or more top ranked offerors may be contacted for oral presentations/demonstrations or advanced directly to the negotiations stage. If oral presentations are conducted Mason will then determine, in its sole discretion, which offerors will advance to the negotiations phase. Negotiations shall then be conducted with each of the offerors so selected. Price shall be considered, but need not be the sole determining factor. After negotiations have been conducted with each offeror so selected, Mason shall select the offeror which, in its sole discretion has made the best proposal, and shall award the contract to that offeror. When the terms and conditions of multiple awards are so provided in the Request for Proposal, awards may be made to more than one offeror. Should Mason determine in writing and in its sole discretion that only one offeror has made the best proposal, a contract may be negotiated and awarded to that offeror. Mason is not required to furnish a statement of the reasons why a particular proposal was not deemed to be the most advantageous (Governing Rules §49.D.).

XIV. CONTRACT ADMINISTRATION: Upon award of the contract, Mason shall designate, in writing, the name of the Contract Administrator who shall work with the contractor in formulating mutually acceptable plans and standards for the operations of this service. The Contract Administrator shall use all powers under the contract to enforce its faithful performance. The Contract Administrator shall determine the amount, quality and acceptability of work and shall decide all other questions in connection with the work. All direction and order from Mason shall be transmitted through the Contract Administrator, or their designee(s) however, the Contract Administrator shall have no authority to approve changes which shall alter the concept or scope of the work or change the basis for compensation to the contractor.

XV. SOLICITATION TERMS AND CONDITIONS:

A. ANNOUNCEMENT OF AWARD: Upon the award or the announcement of the decision to award a contract over $200,000, as a result of this solicitation, Mason will publicly post such notice on the DGS/DPS eVA web site (https://eva.virginia.gov/) for a minimum of 10 days.

B. BEST AND FINAL OFFER (BAFO): At the conclusion of negotiations, the offeror(s) may be asked to submit in writing, a best and final offer (BAFO). After the BAFO is submitted, no further negotiations shall be conducted with the offeror(s).

C. CONFLICT OF INTEREST: By submitting a proposal the contractor warrants that they have fully complied with the Virginia Conflict of Interest Act; furthermore certifying that they are not currently an employee of the Commonwealth of Virginia.

D. DEBARMENT STATUS: By submitting a proposal, offerors certify that they are not currently debarred by the Commonwealth of Virginia from submitting bids or proposals on contracts for the type of goods and/or services covered by this solicitation, nor are they an agent of any person or entity that is currently so debarred.

E. ETHICS IN PUBLIC CONTRACTING: By submitting a proposal, offerors certify that their proposal is made without collusion or fraud and that they have not offered or received any kickbacks or inducements from any other offeror, supplier, manufacturer or subcontractor in connection with their proposal, and that they have not conferred on any public employee having official responsibility for this procurement transaction any payment, loan, subscription, advance, deposit of money, services or anything of more than nominal value, present or promised, unless consideration of substantially equal or greater value was exchanged.

F. LATE PROPOSALS: To be considered for selection, proposals must be received in Mason’s Bonfire Portal by the designated date and hour. The official time used in the receipt of proposals is the proposal due date and hour in Mason’s Bonfire Portal. Proposals submitted after the due date and time has expired will not be accepted nor considered. Mason is not responsible for any delays related to Bonfire’s website or vendor registration process. It is the responsibility of the offeror to ensure that their proposal is submitted by the designated date and hour.

G. MANDATORY USE OF MASON FORM AND TERMS AND CONDITIONS: Failure to submit a proposal on the official Mason form provided for that purpose may be a cause for rejection of the proposal. Modification of or additions to the General Terms and Conditions of this solicitation may be cause for rejection of the proposal; however, Mason reserves the right to decide, on a case-by-case basis, in its sole discretion, whether to reject such a proposal.

H. OBLIGATION OF OFFEROR: It is the responsibility of each offeror to inquire about and clarify any requirements of this solicitation that are not understood. Mason will not be bound by oral explanations as to the meaning of specifications or language contained in this solicitation. Therefore, all inquiries must be in writing and submitted as instructed on page 1 of this solicitation. By submitting a proposal, the offeror covenants and agrees that they have satisfied themselves, from their own investigation of the conditions to be met, that they fully understand their obligation and that they will not make any claim for, or have right to cancellation or relief from the resulting contact because of any misunderstanding or lack of information.

I. QUALIFICATIONS OF OFFERORS: Mason may make such reasonable investigations as deemed proper and necessary to determine the ability of the offeror to perform the services/furnish the goods and the offeror shall furnish to Mason all such information and data for this purpose as may be requested. Mason reserves the right to inspect the offeror’s physical facilities prior to award to satisfy questions regarding the offeror’s capabilities. Mason further reserves the right to reject any proposal if the evidence submitted by, or investigations of, such offeror fails to satisfy Mason that such offeror is properly qualified to carry out the obligations of the resulting contract and to provide the services and/or furnish the goods contemplated therein.

J. RFP DEBRIEFING: In accordance with §49 of the Governing Rules Mason is not required to furnish a statement of the reasons why a particular proposal was not deemed to be the most advantageous. However, upon request we will provide a scoring/ranking summary and the award justification memo from the evaluation committee. Formal debriefings are generally not offered.

K. TESTING AND INSPECTION: Mason reserves the right to conduct any test/inspection it may deem advisable to assure goods and services conform to the specifications.

XVI. RFP SCHEDULE (Subject to Change): Go to Mason’s Bonfire Portal for all updates and schedule changes. The schedule notated below is tentative and subject to change. Note that all Addendums, Question and Answers, and any other documentation or RFP updates will be posted and made available in Bonfire:

https://gmu.bonfirehub.com

RFP Schedule (Subject to Change)

ATTACHMENT A

SMALL BUSINESS SUBCONTRACTING PLAN

TO BE COMPLETED BY OFFEROR

Offerors must advise any portion of this contract that will be subcontracted. All potential offerors are required to include this document with their proposal in order to be considered responsive.

Small Business: "Small business (including micro)” means a business which holds a certification as such by the Virginia Department of Small Business and Supplier Diversity (DSBSD) on the due date and time for proposals. This shall also include DSBSD certified women- owned and minority-owned businesses and businesses with DSBSD service disabled veteran owned status when they also hold a DSBSD certification as a small business on the proposal due date. Currently, DSBSD offers small business certification and micro business designation to firms that qualify.

Certification applications are available through DSBSD online at www.SBSD.virginia.gov (Customer Service).

Offeror Name:

Preparer Name: Date:

Who will be doing the work: □ I plan to use subcontractors □ I plan to complete all work

Instructions A. If you are certified by the DSBSD as a micro/small business, complete Section A of this form.

B. If the “I plan to use subcontractors” box is checked, complete Section B of this form. For the proposal to be considered and the offeror to be declared responsive, the offeror shall identify the portions of the contract that will be subcontracted to any subcontractor, to include DSBSD certified small business for the initial contract period in relation to the offeror’s total price for the initial contract period in Section B.

Section A If your firm is certified by the DSBSD provide your certification number and the date of certification.

Certification Number: Certification Date:

Section B If the “I plan to use subcontractors” box is checked, populate the requested information below, per subcontractor to show your firm's plans for utilization of any subcontractor, to include DSBSD-certified small businesses, in the performance of this contract for the initial contract period in relation to the offeror’s total price for the initial contract period. Certified small businesses include but are not limited to DSBSD-certified women-owned and minority-owned businesses and businesses with DSBSD service disabled veteran-owned status that have also received the DSBSD small business certification. Include plans to utilize small businesses as part of joint ventures, partnerships, subcontractors, suppliers, etc. It is important to note that these proposed participation will be incorporated into the subsequent contract and will be a requirement of the contract. Failure to obtain the proposed participation dollar value or percentages may result in breach of the contract.

Plans for Utilization of Any subcontractor, to include DSBSD-Certified Small Businesses, for this Procurement Subcontract #1

Description of Work:

Subcontract #2

Description of Work:

Subcontract #3

Description of Work:

Subcontract #4

Description of Work:

Subcontract #5

Description of Work:

Purchasing Department 4400 University Drive, MS 3C1, Fairfax, VA 22030 Phone: 703.993.2580; http://fiscal.gmu.edu/purchasing/

ATTACHMENT B – STANDARD CONTRACT

Note: Other documents may be incorporated into this document, either by way of attachment or by reference, but in all cases this contract document shall take precedence over all other documents and will govern the terms and conditions of the contract.

This Contract entered on this ____ day of , 2025 (Effective Date) by ________________ hereinafter called “Contractor” (located at ____________) and George Mason University hereinafter called “Mason,” “University”.

I. WITNESSETH that the Contractor and Mason, in consideration of the mutual covenants, promises and agreement herein contained, agree as follows:

II. SCOPE OF CONTRACT: The Contractor shall provide for the of George Mason University as set forth in the Contract documents.

During the term of this Contract, Contractor may issue Statements of Work (“SOW”) to modify the scope of the engagement or otherwise change the work to be performed under this Contract. All SOW’s must be on a form approved by Mason prior to the start of this Contract. Any SOW that does not conform to the pre-approved SOW form shall be void even if approved by Mason. Additionally, the SOW shall be limited to modifications to the scope of the engagement or other changes to the work to be performed under this Contract; any other terms contained in a SOW shall be void and have no effect even if approved by Mason. Other than changes to the scope of the engagement or the work to be performed under this Contract, Contractor may not change, modify, add, supersede, or remove any term from this Contract through a SOW.

III. PERIOD OF CONTRACT: Five years from the Effective Date. (or as negotiated)

IV. PRICE SCHEDULE: The pricing specified in this section represents the complete list of charges from the Contractor. Mason shall not be liable for any additional charges.

Negotiated price schedule will be inserted here.

V. CONTRACT ADMINISTRATION: ___________ shall serve as Contract Administrator for this Contract and shall use all powers under the Contract to enforce its faithful performance. The Contract Administrator shall determine the amount, quality and acceptability of work and shall decide all other questions in connection with the work. All direction and order from Mason shall be transmitted through the Contract Administrator, however, the Contract Administrator shall have no authority to approve changes which shall alter the concept or scope or change the basis for compensation.

VI. METHOD OF PAYMENT: As selected from RFP Payment Term Options / Method of Payment. Contractor shall submit invoices directly to acctpay@gmu.edu and copy the Contract Administrator. Invoices must reference a Mason Purchase Order number to be considered valid. Invoices will only be accepted if submitted after services rendered or goods received. All invoice will be paid Net 30 (or as selected in Payment Terms / Method of Payment), after receipt of invoice in the accounts payable email inbox.

VII. THE CONTRACT DOCUMENTS SHALL CONSIST OF (In order of precedence):

A. This signed form;

B. Data Security Addendum (attached);

C. Negotiation Response(s) dated XXXXX (attached);

D. RFP No. GMU-XXXX-XX, in its entirety (attached);

E. Contractor’s proposal dated XXXXXX (attached);

F. Contractor’s Statement of Work template (attached).

VIII. GOVERNING RULES: This Contract is governed by the provisions of the Restructured Higher Education Financial and Administrative Operations Act, Chapter 10 (§ 23.1-1000 et seq.) of Title 23.1 of the Code of Virginia, and the “Governing Rules” and the Purchasing Manual for Institutions of Higher Education and their Vendors. Documents may be viewed at: https://vascupp.org.

IX. CONTRACT PARTICIPATION: It is the intent of this Contract to allow for cooperative procurement. Accordingly, any public body, public or private health or educational institutions, or affiliated corporations may access this Contract if authorized by the Contractor.

Participation in this Contract is strictly voluntary. If authorized by the Contractor, the contract will be extended to the entities indicated above to purchase goods and services in accordance with contract terms. As a separate contractual relationship, the participating entity will place its own orders directly with the Contractor and shall fully and independently administer its use of the contract to include contractual disputes, invoicing and payments without direct administration from the University. No modification of this Contract or execution of a separate agreement is required to participate; however, the participating entity and the Contractor may modify the terms and conditions of the contract to accommodate specific governing laws, regulations, policies, and business goals required by the participating entity. Any such modification will apply solely between the participating entity and the Contractor.

The University may request the Contractor provide semi-annual usage reports for all entities accessing the Contract. The University shall not be held liable for any costs or damages incurred by any other participating entity as a result of any authorization by the Contractor to extend the Contract. It is understood and agreed that the University is not responsible for the acts or omissions of any entity and will not be considered in default of the contract no matter the circumstances.

Use of this Contract does not preclude any participating entity from using other contracts or competitive processes as needed.

X. STANDARD TERMS AND CONDITIONS:

A.…