Escrow and Investment Fund Support Management Services RFQ Questions and Answers 9-25-2023.pdf

Date Received

Document/Section Page Number Question/Comment/Clarification Answer/Response Inquiring Vendor/Contact

9/11/2023 N/A N/A I would like to confirm if the project mentioned above are considered as new requirement or is there an incumbent contract?

As you referenced, this requirement is currently being performed by Bank of America under Contract Number 12C0BA22D0003 which is currently set to expire on 11/19/2023 (the Government intends to extend that end date). Deltek - Brian Sallador

9/11/2023 N/A N/A If there are incumbent vendor(s), would you be able to provide the contract details (such as: Vendor Name, Contract Number, Award and end dates, total contract value)?

Being performed by Bank of America under Contract Number 12C0BA22D0003 which is currently set to expire on 11/19/2023 Deltek - Brian Sallador

9/11/2023 N/A N/A Is this requirement currently performed by BANK OF AMERICA CORPORATION (Contract #:

12C0BA22D0003) and is slated to expire on November 19, 2024?

As you referenced, this requirement is currently being performed by Bank of America under Contract Number 12C0BA22D0003 which is currently set to expire on 11/19/2023 (the Government intends to extend that end date). Deltek - Brian Sallador

9/11/2023 N/A N/A Also, am I missing any other active incumbent contract? If yes, may I ask for the contract number and vendor name please?

currently being performed by Bank of America under Contract Number 12C0BA22D0003 Deltek - Brian Sallador

9/11/2023 N/A N/A is an estimated value available for this potential requirement? Is it estimated to be greater than

$250,000?

This contract is administered as a "self-funded" contract where all fees (i.e., banking services, custody and investment management) are paid, after review by the CFO COR and Finance POC’s referenced above, from the accumulated funds in the USDA-RD Net Income Account located at contractor. The CFO COR and Finance POC’s ensure that the fees are legitimate and validated, against the services performed for that month, in accordance with the established fees that are set forth in the contract award. Deltek - Brian Sallador

9/12/2023 N/A N/A Does the USDA plan to issue an RFP following the completion of the Sources Sought process?

At this time USDA-RD is only conducting Market Research during our Pre- Solicitation Activies as we look to determinewhat our Acquisition Plan will be. We anticipate soliciting this requirement in the near future. Financial Investment News - Justin

9/12/2023 N/A N/A If so, where will the RFP be available? And do interested candidates have to submit responses to the

Sources Sought notice in order to submit responses to a later RFP?

If/When an approved solicitation is publicizies it will be via SAM.gov. Additonally, there would be no condition to have previously responded to the Sources Sought to be considered eligible for contract award. Financial Investment News - Justin

9/12/2023 N/A N/A What is the incumbent firm providing the services outlined in the Sources Sought notice? How long has that firm been working with the center?

Bank of America is the incumbent currently performing these servies under contract12C0BA22D0003, they've performed these services since the contract award date of 11/20/20218 Financial Investment News - Justin

9/12/2023 N/A N/A Why is the USDA issuing a Sources Sought notice at this time, typical due diligence, i.e. an incumbent firm's contract is nearly expired, etc.?

The Sources sought notice is a tool utilized when conducting Market Research to help identify sources in the market and generate increased competition. This occurs during our Pre-Solicitation activies while developing our Acquisition Plan.

The incumbent's contract is set to expire in the near future and we do anticipate competitive solicitation to fulfill the follow-on need. Financial Investment News - Justin

9/12/2023 N/A N/A What is the size ($) of the overall SFH Direct Loan portfolio a selected firm will provide these services for? Financial Investment News - Justin

9/13/2023 N/A N/A I noticed that there were multiple Notice IDs: 33174; 33174-2, 33174-3, and 33174-4. They look like the same posting. Are these the same or are these separate listings? I want to assess if I need to submit separately for each notice?

All 4 of the sources sought postings under the 4 separate NAICS are in relation to the same, single requirement as we look to identify potential sources who are capable and interested in performing our requirement. JP Morgan - Serena Sowers

9/14/2023 N/A N/A Is USDA seeking a bank or financial institution or can a business services contractor provide the services with a bank as a subcontractor?

We are seeking to do business directly with a bank/financial institution rather than via 3rd party, as this requirement is self-funded from the interest accrued, rather than via appropriated and obligated funding. Andromeda Systems - Robert Ward

9/14/2023 N/A N/A Does RHS anticipate a Full and Open procurement or has that been determined?

At this stage USDA-RD is performing Market Research activities and has not determined what the acquisition pathway will be. Andromeda Systems - Robert Ward

9/14/2023 N/A N/A I see two different due dates, both 9/25 and 9/27. Can you please clarify?

One of the postings was posted sooner than the other 3. So the first posting will have an earlier closing date than the other 3. JP Morgan - Serena Sowers

9/18/2023 N/A N/A Is the contractor required to have escrow licenses in all states and US territories to do this work?

We’ve forwarded this question to the requiring program office and finance office for response. We’ll provide the response as soon as we are in receipt. Sales Bump - Etesh Mangray

9/18/2023 N/A N/A Is it to be assumed that the contractor will be using Escrow licenses of the USDA-RD?

We’ve forwarded this question to the requiring program office and finance office for response. We’ll provide the response as soon as we are in receipt. Sales Bump - Etesh Mangray

9/18/2023 N/A N/A Is USDA-RD looking for a bank to handle this work?

Yes, USDA-RD is seeking to award the effort directly to a bank rather than a third party. Sales Bump - Etesh Mangray

9/18/2023 N/A N/A Will these 8 accounts need to be set up at a bank or are these already set up at USDA-RD

These 8 accounts will need to be set up and established/operational by May 19th, 2024 or no more than two weeks after contract award – whichever comes earlier. The accounts must be transferred/set-up at a bank. Sales Bump - Etesh Mangray

9/18/2023 N/A N/A Are you envisioning that someone takes over from the current contractor or set up an entirely new system?

The support services are currently being performed under contract by Bank of America, so in the event of award to a new vendor the accounts would need to be transferred/set-up with the new bank. Sales Bump - Etesh Mangray

9/18/2023 N/A N/A Who is expected to cover these fees?

USDA-RD will cover the cost of the fees from the monthly interested accrued in accordance with the Performance Work Statement (PWS). Interface with USDA systems Sales Bump - Etesh Mangray

9/18/2023 N/A N/A

As mentioned - In order to provide on-line access to USDA-RD bank account balances, ACH and wire transfer transmission capabilities, void and stop payment of disbursed checks, positive pay monitoring and action (acceptance or rejection), check presentment totals, etc. on a daily basis - We would need to make an API call to a bank or manually upload data daily so you would be able to see reports -please clarify this is what you envision.

In accordance with the PWS, the contractor shall provide on-line access to USDA- RD bank account balances, ACH and wire transfer transmission capabilities, void and stop payment of disbursed checks, positive pay monitoring and action (acceptance or rejection), check presentment totals, etc. on a daily basis. This information must be accessible at any given time. Additionally, in accordance with the PWS, Account analysis statements, USDA-RD bank statement activity, Account Reconciliation Plan (ARP) reporting shall be provided as an electronic copy to the Finance Office POC email addresses within 15 calendar days after the end of the reported month. Sales Bump - Etesh Mangray

9/18/2023 N/A N/A Can the USDA provide any examples of the reports required?

At this time USDA-RD does not have examples to provide as the existing reports are generated specifically by the current vendor Bank of America. Final report details will be mutually agreed upon between new contract awardee and the government during the award kick-off meeting to ensure the reports meet the minimum requirements of the PWS. Sales Bump - Etesh Mangray

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