NIA1 271 20_377.pdf
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- Solicitation number
- NIA1 271 200000000377 1
- Issued by
- Michigan
About this file
This is an Award Recommendation Notice of Intent to Award issued by the Department of Treasury's Procurement section for the State of Michigan regarding RFP 271 200000000634 for Unclaimed Property Custodial Services. The solicitation sought a contractor to provide custodial services for unclaimed property securities. The RFP was posted on SIGMA VSS on January 27, 2020, for a 32-day period, with proposals due on February 28, 2020. Two bidders submitted proposals: CSLS Holdings, LLC and Gryphon Asset Management, LLC. The contract term is five years with up to five one-year renewal options. The Department of Treasury recommends awarding the contract to CSLS Holdings, LLC, pending State Administrative Board approval.
CSLS Holdings, LLC of Centreville, Virginia, was evaluated by a Joint Evaluation Committee and scored 100 out of 100 points across all technical evaluation criteria, including Schedule A Sections 1-3 (40 points), Schedule A Section 4 (25 points), Schedule A Sections 5-9 (15 points), and the Proposal Instructions Vendor Questions Worksheet (20 points). The winning bidder's pricing is $160,708.80 for the first year and an estimated total of $803,544.00 for the five-year contract period. Gryphon Asset Management, LLC scored 76 out of 100 points and did not meet the RFP requirements, with deficiencies noted in report formatting, data manipulation capabilities, organizational structure documentation, and reference relevance. Neither bidder was identified as a Service-Disabled Veteran Owned Business. Debriefing sessions are available to non-awarded bidders through Solicitation Manager Andy Marple.
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Text version
Version 4 Revised: 8/2019
Award Recommendation Notice of Intent to Award Number NIA1 271 200000000377
The Department of Treasury’s Procurement section has completed the evaluation of RFP 271 200000000634
– Unclaimed Property Custodial Services and has recommended an award to CSLS Holdings, LLC in the amount of $803,544.00, pending State Administrative Board approval, if applicable. More information on the State Administrative Board can be found at: State Administrative Board.
Bidders who were not recommended for the award are encouraged to schedule a debriefing session with the Solicitation Manager. The debriefing session will provide the bidder with the State’s rationale on why the bidder was not recommended for the award. The Solicitation Manager may be contacted as follows:
Andy Marple, Solicitation Manager marplea@michigan.gov 517.636.6819
Background Information:
This Request for Proposal (RFP) was to solicit responses for selection of a Contractor to provide custodial services for Unclaimed Property securities. The term of this contract is five (5) years, with up to five (5) one (1) year renewal options.
Bidders:
The RFP was posted on SIGMA VSS on January 27, 2020 for 32 days. The following bidders submitted proposals by the published due date of February 28, 2020.
Bidder Address City, State Zip
SDVOB*
CSLS Holdings, LLC
5860 Trinity Parkway Suite 120 Centreville, VA 20120
No
Gryphon Asset Management, LLC
991 Route 22W 2nd Floor Bridgewater, NJ 08807
No
*SDVOB: Service-Disabled Veteran Owned Business
STATE OF MICHIGAN PROCUREMENT
Department of Treasury 7285 Parsons Dr Dimondale, MI 48821
Evaluation Synopsis
I. Evaluation Process
A Responsible Vendor is a vendor that demonstrates it has the ability to successfully perform the duties identified by the solicitation. A Responsive proposal is one that is submitted in accordance with the solicitation instructions and meets all mandatory requirements identified in the solicitation.
Proposal Instructions, Evaluation Process
Technical Evaluation Criteria Weight
1. Schedule A, Sections 1-3 40
2. Schedule A, Section 4 25
3. Schedule A, Sections 5-9 15
4. Proposal Instructions - Vendor Questions Worksheet 20 Total 100
The full evaluation process is stated in the RFP Proposal Instructions.
II. Evaluation Method
Responses to this solicitation were reviewed by Joint Evaluation Committee, which consisted of the following individuals:
Voting Andy Marple – Solicitation Manager Dept. of Treasury - Purchasing
Terry Stanton – State Administrative Manager Dept. of Treasury – Unclaimed Property
Laura Herrin – Departmental Manager Dept. of Treasury – Unclaimed Property
Louise Loftus – Financial Analyst Dept. of Treasury – Unclaimed Property
III. Evaluation Results
A. CSLS Holdings, LLC
The Evaluation Team determined that CSLS Holdings, LLC based on a score of 100, did meet the requirements of this RFP. This determination was accomplished by evaluating their responses to the Technical Evaluation Criteria.
1. Schedule A, Sections 1-3 The Evaluation Team determined that overall the responses were satisfactory, with no deficiencies noted.
2. Schedule A, Section 4
3. Schedule A, Sections 5-9
4. Proposal Instructions - Vendor Questions Worksheet
Total Score: 100/100
B. Gryphon Asset Management, LLC
The Evaluation Team determined that Gryphon Asset Management, LLC, based on a score of 76, did not meet the requirements of this RFP. This determination was accomplished by evaluating their responses to the Technical Evaluation Criteria.
1. Schedule A, Sections 1-3 The Evaluation Team determined that overall the responses were mostly satisfactory, but the following deficiencies were noted:
a. 1.6 - Concerns regarding the report format and the ability to manipulate as presented.
2. Schedule A, Section 4
a. 4.1 - No representative listed
b. 4.4 - Lack of detail, no mention of unclaimed property or governmental work.
c. 4.6 - 2nd subcontractor listed on the org chart is not listed here.
3. Schedule A, Sections 5-9
a. 5.3.1 - Questions on ability to manipulate relevant data as presented.
b. 5.3.2 - Report does not meet needs as presented.
c. 5.3.3 - CUSIP not populated in Excel format.
4. Proposal Instructions - Vendor Questions Worksheet
a. References – Relevance of the 2nd & 3rd references is not directly applicable.
Total Score: 76/100
IV. Technical Evaluation Summary
Selection Criteria CSLS Holdings, LLC
Gryphon Asset Management, LLC
1 Schedule A, Sections 1-3 40 38 2 Schedule A, Section 4 25 14.5 3 Schedule A, Sections 5-9 15 8.5 4 Proposal Instructions - Vendor
Questions Worksheet 20 15
Total: 100 76
V. Pricing Summary
Pricing was evaluated for the bidders who passed technical. The following is a summary of their price proposals:
Deliverable CSLS Holdings, LLC 1-Year Estimated Cost $160,708.80
5-Year Estimated Total $803,544.00
VI. Award Recommendation:
Award recommendation is made to the responsive and responsible Bidder who offers the best value to the State of Michigan. Best value is based on the proposal meeting the minimum point threshold and offering the best combination of the factors stated in the Proposal Instructions, Section 8, Evaluation Process, and price.
CSLS Holdings, LLC provided the best value to the State. Award Recommendation is made to CSLS Holdings, LLC in the amount of $803,544.00.
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