2021-02 RFP UP_Questions_Answers.pdf

QUESTIONS AND ANSWERS

2021-02 RFP UP

Unclaimed Securities Property Management

Failure to file a protest within the time prescribed in section 120.57(3), Florida Statutes, or failure to post the bond or other security required by law within the time allowed for filing a bond shall constitute a waiver of proceedings under chapter 120, Florida Statutes.

Below are the questions and answers related to this solicitation. In the table below, the Department of Financial Services (Department) has answered each of the six (6) written questions submitted by potential respondents.

No. RFP Section RFP Page # Question Answer

1 2.2 Timeline 8 Could you kindly clarify on what is the due date for proposals for the Unclaimed Securities Property Management RFP, released yesterday 03/28/22?

Per Section 2.2 Timeline, responses and all required documents must be submitted to the Department by 4:00 p.m. on April 19, 2022.

2 RFP Section 3.3.1.B Responses or Disclosures Required by the

PUR 1001

RFP Document, Page # 12 of 19

Please clarify the appropriate format sought for the Disclosures Required by PUR 1001. Should the disclosures be submitted as a separate document signed by an authorized representative and attached to the proposal submission? Alternatively, is a general response in the form of a statement representing acknowledgement of the required sections of PUR 1001 considered a responsive format for such disclosures?

Respondent to certify on the Mandatory Criteria Certification Form, Attachment B. If unable to certify to any of the provision of Section 9 of the PUR 1001, as modified by Section 3.1 of this RFP, submit a written explanation as part of Volume 1.

3 RFP Section 3.3.3.A Mandatory Criteria Certification

RFP Document, Page # 13 of 19

If a Respondent intends to use a sub-custodian that meets the requirements of Certification Question numbers 11, 12, 13, and 14 of Attachment B, Mandatory Criteria Certification Form, is it considered responsive for a Respondent to provide a “Yes” Certification Answer for each of the above-mentioned Certification Questions, understanding that the Respondent is certifying that its sub-custodian is a registered member in good standing of the

Yes, the Respondent is certifying that they and/or any subcontractors providing these services meet the required criteria.

New York Stock Exchange and the National Association of Securities Dealers Quotations; participating member of the Depository Trust Company; licensed as a broker/dealer in Florida or exempt pursuant to chapter 517, Florida Statutes;

and SIPC insured?

4 RFP Section 3.4 How to Submit a Response

RFP Document, Page # 13 of 19

Kindly confirm if a Respondent should also submit three

(3) additional paper copies of Volume 3, along with Volumes 1 and 2 of a proposal response.

Per Section 3.4 How to Submit a Response, only three (3) additional copies are needed of Volumes 1 and 2 of the Response. Only one is needed of Volume 3.

5 RFP Attachment 2, Statement of Work, Deliverable No. 3 – Provide Account Activity Reports, Task No.

RFP Attachment 2, Page # 12 of

The weekly sales report must contain the UPID which is defined as the unique identifying number assigned by the Division to each Holder remitting unclaimed property to the Department. The Department’s current stock transfer instructions for Holders instruct the Holder to provide their UPID with their notification to transfer securities. Is it the responsibility of the Contractor to ensure that the Holder provides their UPID with notification and is the Contractor to assume that any UPID provided by a Holder is the correct UPID number?

It is the Contractor’s responsibility to report the UPID as provided by the Holder remitting the shares. If a Holder does not provide their UPID, the Contractor may need to request it or other information necessary for the Division to identify the corresponding Holder report if the Division requests assistance from the Contractor in obtaining such information.

6 RFP Attachment 3, Price Response

RFP Attachment 3, Page # 1 of 1

Is the Department willing to be invoiced for commissions for the liquidation of securities rather than the commissions being deducted directly from the sale proceeds?

No, per Section 3b of the Statement of Work, pursuant to section 717.122(2)(a), F.S., the Contractor shall be paid by deducting the fees it charges from the proceeds realized by the Department from the sale or liquidation of it unclaimed Securities in the custody of the Contractor.