Contract Summary

This document is a Board of Awards (BOA) for contract R337906, establishing a master service agreement for the state of Texas and participating entities within its cooperative purchasing network. The contract involves the Texas Procurement and Support Services (TPASS) program and includes participation from state agencies, local governments, and other eligible public entities across Texas jurisdictions. The awarded vendor is Bank of America (BOA), identified as the primary contractor providing financial and payment processing services.

The contract encompasses payment card processing, merchant services, and related financial transaction services with pricing structured on a fee-based model tied to transaction volumes and service tiers. The agreement includes multiple option periods for renewal, extending the initial contract term and allowing for service continuity across participating agencies. The contract is available to all Texas state agencies, educational institutions, local governments, and other public entities authorized to utilize TPASS cooperative contracts. Key terms include competitive pricing benchmarks, performance standards for transaction processing, and compliance requirements specific to state financial regulations. The contract structure supports cost savings through cooperative procurement mechanisms, eliminating the need for individual entities to conduct separate competitive solicitations for similar banking and payment services.