Contract Award Summary

This is a contract award document for the Bank of America (BOA) under contract number R293494. The document involves the state of California and its agencies, as well as participation through the California Multiple Award Schedule (CMAS) consortium, which allows other states and local jurisdictions to leverage the negotiated terms. Bank of America serves as the contractor providing financial and banking services under this awarded contract.

The contract encompasses banking services including cash management, payment processing, and related financial services. Pricing is established on a fee-based structure with rates negotiated and documented within the contract terms. The award includes provisions for option periods that allow for contract renewal and extension beyond the initial term, enabling continuity of banking services across state and participating local agencies. The contract structure supports multi-year utilization with defined pricing mechanisms to ensure cost control and service continuity for participating government entities accessing banking and financial management solutions through this consolidated procurement vehicle.