The Sale of Unclaimed Securities 12.12.2025.pdf

The Sales of Unclaimed Securities

Solicitation #: BPM054511 IFB Document

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STATE OF MARYLAND

COMPTROLLER OF MARYLAND (COM)

INVITATION FOR BIDS (IFB)

THE SALES OF UNCLAIMED SECURITIES

IFB NUMBER BPM054511

ISSUE DATE: DECEMBER 12, 2025

A Prospective Bidder that has received this document from a source other than eMarylandMarketplace

Advantage (eMMA) https://procurement.maryland.gov should register on eMMA https://emma.maryland.gov/

MINORITY BUSINESS ENTERPRISES ARE ENCOURAGED TO RESPOND TO THIS

SOLICITATION.

https://procurement.maryland.gov/ https://emma.maryland.gov/

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KEY INFORMATION SUMMARY SHEET (KISS)

Invitation for Bids The Sales of Unclaimed Securities

Solicitation

Number:

BPM054511

IFB Issue Date: December 12, 2025

IFB Issuing

Office:

Comptroller of Maryland

Procurement

Officer:

Lola Tiamiyu

Administration of Finance

80 Calvert Street

Annapolis, MD 21401

Email:

Phone Number:

ltiamiyu@marylandtaxes.gov

(667) 401 2039

Bids are to be sent to:

Submit on emma.maryland.gov under Solicitation Number BPM054511

To submit a bid, bidders must first register on emma.maryland.gov. We recommend registering in advance to become acquainted with the site.

No Bid Notice

Feedback Form

If you are not submitting a bid for this solicitation, submit Attachment 1 with your reasons why. https://procurement.maryland.gov/wp-content/uploads/sites/12/2024/11/Attachment-2.-Pre-Bid_-Pre-Proposal-

Conference-Response-Form-v2.pdf

Pre-Bid

Conference:

December 17, 2025 @ 3:00 pm Local time

Virtual via Teams

See Section 4.3 for additional details.

See Attachment 2 https://procurement.maryland.gov/wp-content/uploads/sites/12/2024/11/Attachment-2.-Pre-Bid_-Pre-

Proposal-Conference-Response-Form-v2.pdf to RSVP by 12 noon on

December 16, 2025

Scheduled Site

Visit N/A mailto:ltiamiyu@marylandtaxes.gov

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Questions Due

Date and Time:

December 23, 2025, 4:00 pm Local Time

Bid Due (Closing)

Date and Time:

January 9, 2026, 4:00 pm Local Time

Bidders are reminded that a completed Feedback Form is requested if a no-bid decision is made (see Attachment 1 - No Bid Notice/Vendor

Feedback Form).

Public Bid

Opening Date, Time, and

Location

January 12, 2026 at 3:00 pm local time. If you wish to attend the Bid opening, please send you request to Ltiamiyu@marylandtaxes.gov by

12:00 pm, January 11, 2026

MBE

Subcontracting

Goal:

N/A

VSBE

Subcontracting

Goal:

N/A

Procurement

Method:

A Contract will be awarded in accordance with the Competitive Sealed

Bidding method under COMAR 21.05.02.

Multiple or

Alternate Bids:

Multiple or alternate Bids will not be accepted.

Contract Type: Indefinite Quantity with Fixed-Price unit prices as defined in COMAR

21.06.03.06 A (2).

Contract

Duration:

Five (5) Years with One (1) year renewal option

Primary Place of

Performance:

Contractor selected location

SBR Designation: No

Federal Funding: No mailto:Ltiamiyu@marylandtaxes.gov

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Table of Contents - IFB

1 Minimum Qualifications

1.1 Bidder Minimum Qualifications

2 Contractor Requirements: Scope of Work

2.1 Summary Statement

2.2 Background and Purpose

2.2.1 State Staff and Roles

2.3 Contractor Responsibilities and Tasks

2.3.1 General: The Contractor shall:

2.3.2 Reporting Requirements

2.3.3 The Contractor is paid based on the commission rate per share sold as entered on the

Bid

3 Standard Terms and Conditions

3.1 Contract Initiation Requirements

3.2 End of Contract Transition

3.3 Invoicing

3.3.1 Invoice Submission Schedule

3.3.2 Deliverable Invoicing

3.3.3 Travel Reimbursement

3.4 Liquidated Damages

3.4.1 MBE Liquidated Damages

3.4.2 Liquidated Damages other than MBE

3.4.3 Problem Escalation Procedure

3.5 Work Orders

3.6 Payments by Electronic Funds Transfer

3.7 Prompt Payment Policy

3.8 Federal Funding Acknowledgement

3.9 Conflict of Interest Affidavit and Disclosure

3.10 Non-Disclosure Agreement

3.10.1 Non-Disclosure Agreement (Bidder/Offeror) is not required for this procurement

3.10.2 Non-Disclosure Agreement (Contractor)

3.11 Maryland Healthy Working Families Act Requirements

3.12 The State of Maryland’s Commitment to Purchasing Environmentally Preferred Products and

Services (EPPs)

3.13 Insurance Requirements

4 Bid Submission Information and Instructions

4.1 eMaryland Marketplace Advantage (eMMA)

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4.2 Electronic Means

4.3 Pre-Bid Conference

4.4 Questions

4.5 Bid Due (Closing) Date and Time

4.6 Receipt, Opening and Recording of Bids

4.7 Duration of Bids

4.8 Revisions to the IFB

4.9 Cancellations

4.10 Incurred Expenses

4.11 Protest/Disputes

4.12 Bidder Responsibilities

4.13 Acceptance of Terms and Conditions

4.14 Compliance with Laws/Arrearages

4.15 Verification of Registration and Tax Payment

4.16 False Statements

4.17 Confidentiality of Bids / Public Information Act Notice

4.18 Use of Bidder’s Form Not Binding on State

4.19 Attachments and Documents Required with the Bid (Table A)

4.20 Bid Delivery Instructions

4.21 Bid Evaluation Criteria and Award Basis

4.22 Tie Bids

4.23 Reciprocal Preference

4.24 Documents Required upon Notice of Recommendation for Contract Award (Table B)

5 Bid Format

6 IFB Appendices and Exhibits

6.1 Appendices (Table C)

6.2 Exhibits (Table D)

6 B 1 – Bid Form 31

7 Sample Contract 32

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1 Minimum Qualifications

1.1 Bidder Minimum Qualifications

The Bidder must document in its Bid that it satisfies the following Minimum Qualifications:

A. The Bidder shall have three (3) consecutive years of recent experience (within the past ten years) providing the sale of unclaimed securities. The Bidder shall have experience with sales of unclaimed securities at a minimum of $1,000,000 per year. The Bidder shall provide with its Bid

"Attachment L Reference Checks" with one or more references filled out.

B. The Bidder shall be a current member of all principal stock exchanges: New York, American, NASDAQ, and OTC.

a. Required Documentation: As proof of meeting this requirement, the Bidder shall provide with its Bid documentation of current membership of all principal stock exchanges.

C. The Bidder shall be a current participant in the Depository Trust Company (DTC).

a. Required Documentation: As proof of meeting this requirement, the Bidder shall provide with its Bid documentation of current participation in the DTC.

THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.

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2 Contractor Requirements: Scope of Work

2.1 Summary Statement

2.1.1 This Invitation for Bids (IFB) is issued to procure the goods or services, as specified in this Section 2, from a contract between the successful bidder(s) and the Comptroller of

Maryland (“COM” or “State”) for the sales of unclaimed securities.

It is the State’s intention to obtain goods and services, as specified in this IFB, from a contract between the selected Bidder and the State.

2.1.2 This is a single award. See IFB Section 4.21 Bid Evaluation Criteria and Award Basis for more Contract award information.

A Contract award does not ensure a Contractor will receive all or any State business under the

Contract.

2.1.4 A Bidder, either directly or through its subcontractor(s), must be able to provide all goods and services and meet all of the requirements requested in this solicitation and the successful Bidder (the Contractor) shall remain responsible for Contract performance regardless of subcontractor participation in the work.

2.1.5 Maryland State and local entities as defined in Finance and Procurement §13-110(a) and nonprofit entities within the State of Maryland may purchase from the Contractor goods or services covered by the Contract at the same prices chargeable to the State. All such purchases by non-executive branch entities, non-State governments, government agencies or nonprofit entities:

• Shall constitute Contracts between the Contractor and that entity;

• Shall not constitute purchases by the State or State agencies under the Contract;

• Shall not be binding or enforceable against the State; and

• May be subject to other terms and conditions agreed to by the Contractor and the purchaser.

2.1.6 All Contract prices, terms, and conditions must be provided to any Maryland local government or nonprofit entity requesting services under the Contract. The Contractor bears the risk of determining whether or not a government, agency or organization with which the Contractor is dealing is a State entity.

2.2 Background and Purpose

The Comptroller of Maryland, Compliance Division, Unclaimed Property Unit, is responsible for the administration of the Maryland Uniform Disposition of Abandoned Property Act. The law is custodial in nature and requires that the COM take possession of the unclaimed property and attempt to locate the rightful owners.

Stock certificates are classified as unclaimed when the owner has not claimed it or corresponded in writing with the business association concerning it within three (3) years after the date prescribed for payment or delivery. At that point in time the property is presumed abandoned. This results in a large number of small stocks that must be sold when COM takes possession.

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2.2.1 State Staff and Roles

The State will provide a State Contract Monitor in addition to a State Procurement Officer, whose duties are as follows:

A. Contract Monitor

1. The State will provide a Contract Monitor who will be responsible for all Contract administration functions, including but not limited to, issuing written direction, invoice approval, monitoring the Contract to ensure compliance with the terms and conditions of the Contract, monitoring MBE /VSBE and Green Purchasing Program compliance, vendor management, compliance and oversight, and ensuring the achievement of completion on budget, on time, and within scope of the contract.

2. The Contract Monitor may authorize in writing one or more State representatives to act on behalf of the Contract Monitor in the performance of the Contract Monitor’s responsibilities. The Contract Monitor may be changed at any time by written notice to the Contractor.

B. State Procurement Officer:

The State will provide a Procurement Officer who has responsibilities as detailed the Contract, and is the only State representative who can authorize changes to the

Contract.

The State may change the Procurement Officer at any time by written notice to the Contractor.

2.2.2 Other State Responsibilities

A. The State is responsible for providing required information, data, documentation, and test data to facilitate the Contractor’s performance of the work, and will provide such additional assistance and services as is specifically set forth.

2.3 Contractor Responsibilities and Tasks

2.3.1 General: The Contractor shall:

a) Provide custodial and securities accounting services for unclaimed securities including mutual funds.

b) Facilitate and simplify the delivery and collection of reported unclaimed securities.

c) Maintain the correct and current amount of shares of securities in the State’s account, including but not limited to, updating the account when actions, such as stock splits, reverse splits, mergers, consolidations, dividends paid and dividends reinvested, or any other events not previously listed, that could affect the volume or value of the shares, occur.

d) Provide ongoing consulting, custodial and research services.

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e) Assist the State in acquiring all securities, mutual funds, or other investment properties that are held by other investment brokers, transfer agents, or other accounts that should be in the State’s account.

f) Maintain the State’s investment in one consolidated account for the duration of the

Contract.

g) Assist in identifying, collecting, maintaining, monitoring, transferring, selling, and reconciling securities in the State’s account.

h) Deliver to the COM within seven (7) business days after the sale all proceeds received from the sale of securities via an acceptable industry standard payment method. The selected payment method shall be consistent week to week throughout the term of the

Contract. In the Transmittal Letter with the Bid indicate the payment method.

i) Re-register securities held in the State’s account into the rightful owner’s name and account as instructed by the State.

j) Offer a cash sweep option in which to deposit dividends, interest, other excess cash receipts, in-time deposits, money market funds, U.S. Treasury money market funds, and short-term investment funds. These funds plus interest shall be sent to the State in the same selected payment method as in h above in this section at the end of each calendar month.

k) Secure and hold physical stock and bond certificates in a vault, including worthless or non-transferable securities.

l) Report any worthless or non-transferable securities to the Contract Monitor with an explanation within thirty (30) calendar days after receipt.

m) Sell Securities within the time period authorized by the State, twenty-one (21) days or earlier, and report each listed security with a detailed transaction breakdown of proceeds.

n) Track and notify the Contract Monitor, via email, within thirty (30) days of a bond’s maturity date. The State will reply to the Contractor via email and direct the Contractor when to redeem the bonds, including coupons. The Contractor shall collect and remit the proceeds to the State in the same selected payment method as in section 2.3.1(h) above within seven (7) business days after their redemption and provide a written account statement of the transaction, including the amounts received per owner and/or bond type, if available.

o) Provide for medallion signature guarantee.

p) Provide real-time on-line access to all account and portfolio information through a secure website including receipt and sale dates, number of shares, sale price, and the originating source of each security.

q) Provide designated State staff with 24/7 access to generate custodial holdings and financial reports.

2.3.2 Reporting Requirements

The Contractor shall provide the Contract Monitor, or designated State Staff access to

Contractor’s secure on-line website with the ability to produce or access reports containing, at a minimum, the below listed information. Reports must be able to be exported into an

Excel format so that data may be manipulated. All information must be available on-line by the third (3rd) business day of each month.

a) Reports, at a minimum, must be able to provide the following information:

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1) All transactions and corporate actions including, but not limited to, receipt, distribution, sale, exchange, splits, dividends, merger, redemption, worthless determinations, and commissions related to sales.

2) Any information relative to reconciliation with securities by name, number of shares, CUSIP, and type of security, bond or other form of investment.

3) The name of the broker/dealer, transfer agent, or other financial institution from which the securities were received.

4) Total cash receipts.

5) A month-end securities inventory which includes all securities held as of the last day of the month.

i. Name of issue

ii. Name of transfer agent

iii. CUSIP number

iv. Number of shares per issue

v. Market value per share of each issue

vi. Total market value of each issue

vii. Total market value of all the securities in the portfolio.

2.3.3 The Contractor is paid based on the commission rate per share sold as entered on the Bid

Form (Attachment B). The Contractor calculates its commission earned with each trade made, reduces the amount of principal by the commission earned, and remits the difference to the COM in the same selected payment method as in IFB Section 2.3.1(h) within one (1) business day of trade settlement. The State reconciles the amount remitted monthly to ensure the correct amount has been withheld. The State will notify the Contractor via email regarding any discrepancies discovered during the reconciliation.

2.3.4 All fees are to be included in the commission rate. The State will not reimburse any additional costs or expenses incurred.

2.3.5 The State will not pay a commission fee on worthless stock certificates.

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3 Standard Terms and Conditions

3.1 Contract Initiation Requirements

Once all approvals have been obtained and the Contract is fully executed, the Procurement Officer may schedule a kickoff meeting to be held prior to commencement of Contract performance.

3.2 End of Contract Transition

The Contractor shall cooperate in the orderly transition of services from it to a subsequent contractor at the end of the contract term or upon receipt of a Notice of Termination from the State. Transition shall be provided in a prompt and timely manner and shall proceed in accordance with the schedule provided to the Contractor by the State in the Notice of Transition. Additional instructions regarding transition services may be provided in the event of a Notice of Termination issued by the State.

3.3 Invoicing

Submission of an invoice constitutes the Contractor’s verification that the information in the invoice is accurate as of the time of submission.

An invoice not satisfying the requirements of a Proper Invoice (as defined in COMAR 21.06.09) will not be processed for payment. To be considered a Proper Invoice, invoices must include the following information, without error:

A. Contractor name and address;

B. Remittance address;

C. Federal taxpayer identification (FEIN) number, social security number, as appropriate;

D. Invoice period (i.e. time period during which services covered by invoice were performed);

E. Invoice date;

F. Invoice number;

G. State assigned Contract number;

H. State assigned (Blanket) Purchase Order number(s);

I. Goods or services provided;

J. Amount due; and

K. Any additional documentation required by regulation or the Contract.

Invoices that contain both fixed price and labor hour or time and material items shall clearly identify each item as either fixed price, and labor hour, or time and material billing.

The State reserves the right to reduce or withhold Contract payment in the event the Contractor does not provide all required deliverables within the time frame specified in the Contract or otherwise breaches the terms and conditions of the Contract until such time as the Contractor brings itself into full compliance with the Contract.

The State is generally exempt from federal excise taxes, Maryland sales and use taxes, District of

Columbia sales taxes and transportation taxes. The Contractor, however, is not exempt from such sales and use taxes and may be liable for the same.

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Invoices for final payment shall be clearly marked as “FINAL” and submitted when all work requirements have been completed and no further charges are to be incurred under the Contract. In no event shall any invoice be submitted later than 60 calendar days from the Contract termination date.

3.3.1 Invoice Submission Schedule

The Contractor shall submit invoices in accordance with the following schedule:

A. For items of work for which there is one-time pricing (see Attachment B –The Price

Form), those items shall be billed in the month following the acceptance of the work by the State.

B. For Items of work for which there is annual pricing (see Attachment B–The Price

Form), those items shall be billed: in equal monthly installments for the applicable

Contract year in the month following the performance of the services or

3.3.2 Deliverable Invoicing

1. Materials Reporting

Submit evidence to support the cost of materials and that billing on the invoice is consistent with the requirements stated in Section 2 of the IFB.

A. For the purposes of the Contract an amount will not be deemed due and payable if:

B. The amount invoiced is inconsistent with the Contract;

C. The proper invoice has not been received by the party or office specified in the

Contract;

D. The invoice or performance is in dispute or the Contractor has failed to otherwise comply with the provisions of the Contract;

E. The item or services have not been accepted;

F. The quantity of items delivered is less than the quantity ordered;

G. The items or services do not meet the quality requirements of the Contract;

H. If the Contract provides for progress payments, the proper invoice for the progress payment has not been submitted pursuant to the schedule;

I. If the Contract provides for withholding a retainage and the invoice is for the retainage, all stipulated conditions for release of the retainage have not been met; or

J. The Contractor has not submitted satisfactory documentation or other evidence reasonably required by the Procurement Officer or by the Contract concerning performance under the Contract and compliance with its provisions.

3.3.3 Travel Reimbursement

Travel will not be reimbursed under this IFB.

3.4 Liquidated Damages

3.4.1 MBE Liquidated Damages

Inapplicable because there is no MBE goal for this IFB.

3.4.2 Liquidated Damages other than MBE

This section is inapplicable to this IFB.

3.4.3 Problem Escalation Procedure

No later than ten (10) Business Days after notice of recommended award or after the date of the

Notice to Proceed, whichever is earlier, the Contractor must provide, and thereafter, maintain a

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Problem Escalation Procedure (PEP) for both routine and emergency situations. The PEP must state how the Contractor will address problem situations as they occur during the performance of the Contract, especially problems that are not resolved to the satisfaction of the State within appropriate timeframes and must include:

A. Contact information

B. The process for establishing the existence of a problem;

C. Names, titles, and contact information for progressively higher levels of personnel in the Contractor’s organization who would become involved in resolving a problem;

D. For each individual listed in the Contractor’s PEP, the maximum amount of time a problem will remain unresolved with that individual before the problem escalates to the next contact person listed in the Contractor’s PEP;

E. Expedited escalation procedures and any circumstances that would trigger expediting them;

F. The method of providing feedback on resolution progress, including the frequency of feedback to be provided to the State;

G. Contact information for persons responsible for resolving issues after normal business hours (e.g., evenings, weekends, holidays) and on an emergency basis; and

H. A process for updating and notifying the Contract Monitor of any changes to the PEP.

I. The PEP must be updated within ten (10) Business Days after any change in circumstance which changes the PEP but not less than annually within ten (10)

Business Days after the start of each Contract year .

Nothing in this section shall be construed to limit any rights of the Contract Monitor or the

State which may be allowed by the Contract or applicable law.

3.5 Work Orders

A. Additional services and resources will be provided via a Work Order process. Work shall not begin in advance of a fully executed Work Order. A Work Order may be issued for a fixed price.

B. Work Order Requests (See sample at http://doit.maryland.gov/contracts/Documents/_procurementForms/WorkOrderSample.pd

f) for the provision of services or resources that are within the scope of this IFB will be issued to the Contractor. The Work Order Request will include:

1) Technical requirements and description of the service or resources needed;

2) Performance objectives and/or deliverables, as applicable;

3) Due date and time for submitting a response to the request; and

4) Required place(s) where work must be performed.

C. The Contractor shall e-mail a response to the Contract Monitor within the specified time and include at a minimum:

1. A response that details the Contractor’s understanding of the work;

2. A price to complete the Work Order Request using the format provided (see online sample).

3. A description of proposed resources required to perform the requested tasks, with labor categories listed in accordance with Appendix 3.

http://doit.maryland.gov/contracts/Documents/_procurementForms/WorkOrderSample.pdf http://doit.maryland.gov/contracts/Documents/_procurementForms/WorkOrderSample.pdf

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4. An explanation of how tasks shall be completed. This description shall include proposed subcontractors and related tasks.

5. Contractor’s expectations for State-furnished information, work site, and/or access to equipment, facilities, or personnel

6. The proposed personnel resources, including any subcontractor personnel, to complete the task.

D. For a T&M Work Order, the Contract Monitor will review the response and will confirm the proposed labor rates are consistent with this IFB. For a fixed price Work Order, the

Contract Monitor will review the response and will confirm the proposed prices are acceptable.

E. The Contract Monitor may contact the Contractor to obtain additional information, clarification or revision to the Work Order, and will provide the Work Order to the

Procurement Officer for a determination of compliance with the Contract and a determination whether a change order is appropriate. Written Procurement Officer approval is required before Work Order execution by the State.

F. Proposed personnel on any type of Work Order shall be subject to the State’s prior approval. The Contractor shall furnish resumes of proposed personnel specifying the labor category(ies) proposed. The Contract Monitor shall have the option to interview the proposed personnel and, in the event of an interview or not, shall notify the Contractor of acceptance or denial of the personnel.

G. Performance of services under a Work Order shall commence consistent with an NTP issued by the Contract Monitor for such Work Order.

The Blanket Purchase Order (BPO) issued as a result of this solicitation, and any subsequent amendments, modifications or options issued relevant to this solicitation or BPO, complies with all the terms, conditions and specifications issued with this solicitation and is incorporated in and made part of the Contract – see Exhibit 2 - Sample Contract.

3.6 Payments by Electronic Funds Transfer

By submitting a Bid in response to this solicitation, the Bidder, if selected for award:

Agrees to accept payments by electronic funds transfer (EFT) unless the State Comptroller’s

Office grants an exemption. Payment by EFT is mandatory for contracts exceeding $200,000. The successful Bidder shall register using the COT/GAD X-10 Vendor Electronic Funds (EFT)

Registration Request Form.

Any request for exemption must be submitted to the State Comptroller’s Office for approval at the address specified on the COT/GAD X-10 form, must include the business identification information as stated on the form, and must include the reason for the exemption. The COT/GAD

X-10 form may be downloaded from the Comptroller’s website at:

http://comptroller.marylandtaxes.com/Vendor_Services/Accounting_Information/Static_Files/GA

DX10Form20150615.pdf.

3.7 Prompt Payment Policy

This procurement and the Contract(s) to be awarded pursuant to this solicitation are subject to the

Prompt Payment Policy Directive issued by the Governor’s Office of Small, Minority & Women

Business Affairs (GOSBA) and dated August 1, 2008. Promulgated pursuant to Md. Code Ann., IFB for The Comptroller of Maryland Page 15 of 50

State Finance and Procurement Article, §§ 11-201, 13-205(a), and Title 14, Subtitle 3, and

COMAR 21.01.01.03 and 21.11.03.01, the Directive seeks to ensure the prompt payment of all subcontractors on non-construction procurement contracts. The Contractor shall comply with the prompt payment requirements outlined in the Contract, Section 31 “Prompt Pay Requirements”

(see Exhibit 2 - Sample Contract). Additional information is available on GOSBA’s website at:

http://www.gomdsmallbiz.maryland.gov/documents/legislation/promptpaymentfaqs.pdf.

3.8 Federal Funding Acknowledgement

This Contract does not contain federal funds.

3.9 Conflict of Interest Affidavit and Disclosure

The Bidder shall complete and sign the Conflict of Interest Affidavit and Disclosure (Attachment I) and submit it with its Bid.

By submitting a Conflict of Interest Affidavit and Disclosure, the Contractor shall be construed as certifying all Contractor Personnel and subcontractors are also without a conflict of interest as defined in COMAR 21.05.08.08A.

Additionally, a Contractor has an ongoing obligation to ensure that all Contractor Personnel are without conflicts of interest prior to providing services the Contract. For policies and procedures applying specifically to Conflict of Interests, the Contract is governed by COMAR 21.05.08.08.

Participation in Drafting of Specifications: Disqualifying Event: Bidders are advised that Md. Code

Ann. State Finance and Procurement Article §13-212.1(a) provides generally that “an individual who assists an executive unit in the drafting of specifications, an invitation for bids, a request for proposals for a procurement, or the selection or award made in response to an invitation for bids or a request for proposals, or a person that employs the individual, may not: (1) submit a bid or proposal for that procurement; or (2) assist or represent another person, directly or indirectly, who is submitting a bid or proposal for that procurement.” Any Bidder submitting a Bid in violation of this provision shall be classified as “not responsible.”

3.10 Non-Disclosure Agreement

3.10.1 Non-Disclosure Agreement (Bidder/Offeror) is not required for this procurement.

3.10.2 Non-Disclosure Agreement (Contractor)

This solicitation and any Contract(s) are subject to the terms of the Non-Disclosure Agreement

(NDA) contained in this solicitation as Attachment S. This Agreement must be provided within five (5) Business Days of notification of recommended award; however, to expedite processing, it is suggested that this document be completed and submitted with the Bid.

3.11 Maryland Healthy Working Families Act Requirements

On February 11, 2018, the Maryland Healthy Working Families Act went into effect. All Bidders should be aware of how this Act could affect your potential contract award with the State of

Maryland. See the Department of Labor, Licensing and Regulations website for Maryland

Healthy Working Families Act Information: https://dllr.state.md.us/paidleave/.

https://dllr.state.md.us/paidleave/

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3.12 The State of Maryland’s Commitment to Purchasing Environmentally

Preferred Products and Services (EPPs)

Maryland’s State Finance & Procurement Article §14-410 defines environmentally preferable purchasing as “the procurement or acquisition of goods and services that have a lesser or reduced effect on human health and the environment when compared with competing goods or services that serve the same purpose.” Accordingly, Bidders are strongly encouraged to offer EPPs to fulfill this contract, to the greatest extent practicable.

3.13 Insurance Requirements

The Contractor shall maintain, at a minimum, the insurance coverages outlined below, or any minimum requirements established by law if higher, for the duration of the Contract, including option periods, if exercised:

3.13.1 The following type(s) of insurance and minimum amount(s) of coverage are required:

A. Commercial General Liability - One million dollars ($1,000,000) combined single limit per occurrence for bodily injury, property damage, and personal and advertising injury and three million dollars ($3,000,000) annual aggregate. The minimum limits required herein may be satisfied through any combination of primary and umbrella/excess liability policies.

B. Errors and Omissions/Professional Liability - One million dollars ($1,000,000) per combined single limit per claim and three million dollars ($3,000,000) annual aggregate.

C. Crime Insurance/Employee Theft Insurance - to cover employee theft with a minimum single loss limit of one million dollars ($1,000,000) per loss, and a minimum single loss retention not to exceed ten thousand dollars ($10,000), with the State of Maryland listed as a “loss payee.”

D. Cyber Security / Data Breach Insurance – Five million dollars ($5,000,000) per occurrence. The coverage must be valid at all locations where work is performed or data or other information concerning the State’s claimants or employers is processed or stored.

E. Worker’s Compensation - The Contractor shall maintain such insurance as necessary or as required under Workers’ Compensation Acts, the Longshore and Harbor Workers’

Compensation Act, and the Federal Employers’ Liability Act, to not be less than. one million dollars ($1,000,000) per occurrence (unless a state’s law requires a greater amount of coverage). Coverage must be valid in all states where work is performed.

3.13.2 All insurance policies shall be endorsed to include a clause requiring the insurance carrier to provide the Procurement Officer, by certified mail, not less than 30 days’ advance notice of any non-renewal, cancellation, or expiration. The Contractor shall notify the

Procurement Officer in writing, if policies are canceled or not renewed within five (5) days of learning of such cancellation or nonrenewal. The Contractor shall provide evidence of replacement insurance coverage to the Procurement Officer at least 15 days prior to the expiration of the insurance policy then in effect.

3.13.3 Any insurance furnished as a condition of the Contract shall be issued by a company authorized to do business in the State.

3.13.4 The recommended awardee must provide current certificate(s) of insurance with the prescribed coverages, limits and requirements set forth in this section within five (5) https://trackbill.com/bill/maryland-house-bill-629-environmentally-preferable-procurement-maryland-green-purchasing-committee/647077/

IFB for The Comptroller of Maryland Page 17 of 50

Business Days from notice of recommended award. During the period of performance for multi-year contracts, the Contractor shall provide certificates of insurance annually, or as otherwise directed by the Contract Monitor.

3.13.5 Subcontractor Insurance

The Contractor shall require any subcontractors to obtain and maintain comparable levels of coverage and shall provide the Contract Monitor with the same documentation as is required of the Contractor.

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4 Bid Submission Information and Instructions

4.1 eMaryland Marketplace Advantage (eMMA) eMMA is the electronic commerce system for the State of Maryland. The IFB, Pre-Bid Conference

(Conference) summary and attendance sheet, Bidders’ questions and the Procurement Officer’s responses, addenda, and other solicitation-related information will be made available via eMMA.

To receive a contract award, a vendor must be registered on eMMA. Registration is free. Go to emma.maryland.gov, click on “New Vendor? Register Now” to begin the process, and then follow the prompts.

4.2 Electronic Means

The following transactions related to this procurement and any Contract awarded pursuant to it are not authorized to be conducted by electronic means:

A. Submission of Bond documents determined by the State to require original signatures; or

B. Any transaction, submission, or communication where the Procurement Officer has specifically directed that a response from the Contractor or Offeror be provided in writing or hard copy.

Any e-mail transmission is only authorized to the email addresses for the identified person as provided in the solicitation, the Contract, or in the direction from the Procurement Officer or Contract

Monitor.

“Electronic means” refers to exchanges or communications using electronic, digital, magnetic, wireless, optical, electromagnetic, or other means of electronically conducting transactions.

Electronic means includes e-mail, internet-based communications, electronic funds transfer, specific electronic bidding platforms (e.g., https://procurement.maryland.gov), and electronic data interchange.

4.3 Pre-Bid Conference

If a Conference will be held, the date, time, and location is indicated on the Key Information

Summary Sheet. Attendance at the Conference is not mandatory, but all interested parties are encouraged to attend in order to facilitate better preparation of their Bids. If the solicitation includes an MBE participating goal, failure to attend the Conference will be taken into consideration as part of the evaluation of a bidder’s good faith efforts if there is a waiver request.

It is highly recommended that all Prime Contractors bring their intended subcontractors to the

Conference/Site Visit to ensure that all parties understand the IFB requirements and the socio-economic goals for this solicitation.

MBE subcontractors are encouraged to attend the Conference to market their participation to potential prime contractors.

In order to assure adequate accommodations at the Conference, please email the completed

Attachment 2 for those expected to attend the Conference to the Procurement Officer no later than the time and date indicated on the Key Information Summary Sheet. In addition, if there is a need for sign language interpretation or other special accommodations due to a disability, please notify the

Procurement Officer at least five (5) Business Days prior to the Conference date. Reasonable effort will be made to provide such special accommodation.

https://emma.maryland.gov/page.aspx/en/usr/login?ReturnUrl=%2fpage.aspx%2fen%2fbuy%2fhomepage https://procurement.maryland.gov/

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If the Conference is in person, attendees should bring a copy of the solicitation and a business card to help facilitate the sign-in process.

4.4 Questions

All questions, including concerns regarding any applicable MBE or VSBE participation goals, shall identify in the subject line the Solicitation Number and Title for this IFB and must be submitted in writing via e-mail or eMMA to the Procurement Officer no later than the date and time specified in the Key Information Summary Sheet. The Procurement Officer, based on the availability of time to research and communicate an answer, shall decide whether an answer can be given before the Bid due date.

4.4.1 Answers to all questions that are not clearly specific only to the requestor will be distributed via the same mechanism as for IFB amendments and posted on eMMA.

4.4.2 The statements and interpretations contained in responses to any questions, whether responded to verbally or in writing, are not binding on the State unless it issues an amendment to the solicitation in writing.

4.5 Bid Due (Closing) Date and Time

Bids must be received by the Procurement Officer no later than the Bid due date and time indicated on the Key Information Summary Sheet to be considered. Except as provided in COMAR

21.05.02.10. Bids received after that date will not be considered. Requests for an extension of this date or time shall not be granted.

For Bids accepted via email, the time stamp to indicate receipt of the Bid by the State, is the posted date and time in the Procurement Officer’s email inbox.

Bids may be modified or withdrawn by written notice received by the Procurement Officer before the time and date set forth in the Key Information Summary Sheet for receipt of Bids.

Potential Bidders not responding to this solicitation are requested to submit the “No Bid/Proposal

Notice/Vendor Feedback” form Attachment 1, which includes company information and the reason for not responding (e.g., too busy, cannot meet mandatory requirements).

4.6 Receipt, Opening and Recording of Bids

Upon receipt, each Bid and any timely modification(s) to a Bid shall be stored in a secure place until the time and date set for Bid opening. Before Bid opening, the State may not disclose the identity of any Bidder.

Bids shall be opened publicly at the time, date and place designated in the Key Information Summary

Sheet.

The name of each Bidder, the Total Bid Price, and such other information as is deemed appropriate shall be read aloud or otherwise made available and recorded at the time of Bid opening.

4.7 Duration of Bids

Bids submitted in response to this IFB are irrevocable for the latest of the following: 180 days following the Bid due date and time or the date any protest concerning this IFB is finally resolved.

This period may be extended at the Procurement Officer’s request only with the Bidder’s written agreement.

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4.8 Revisions to the IFB

4.8.1 All revisions to the IFB before the due date for Bids will be published in an addendum to the IFB and posted on eMMA and reasonable effort will be made to provide such addenda to all prospective Bidders that were sent this IFB or are otherwise known by the

Procurement Officer to have obtained this IFB. It is the responsibility of all prospective

Bidders to check eMMA for any addenda issued prior to the submission of Bids.

4.8.2 Bidders shall acknowledge in the Bid the receipt of all addenda to this IFB issued before the Bid due date.

4.8.3 Failure to acknowledge receipt of an addendum does not relieve the Bidder from complying with the terms, additions, deletions, or corrections set forth in the addendum, and may cause the Bid to be deemed not responsive.

4.9 Cancellations

4.9.1 This IFB may be cancelled as provided in COMAR 21.06.02.02

4.9.2 The State reserves the right to cancel this IFB, accept or reject any and all Bids, in whole or in part, received in response to this IFB and to waive or permit the cure of minor irregularities.

4.9.3 In the event a government entity proposes and receives the recommendation for award, this procurement may be canceled, and the award processed in accordance with COMAR

21.01.03.01.A(4).

4.9.4 If the services that are the subject of the IFB are currently being provided under an interagency agreement with a public institution of higher education and the State determines that the services can be provided more cost effectively by the public institution of higher education, then the IFB may be canceled in accordance with Md.

Code Ann., State Finance and Procurement Art., § 3-207(b)(2).

4.10 Incurred Expenses

The State will not be responsible for any costs incurred by any Bidder in preparing and submitting a

Bid or performing any other activities related to submitting a Bid in response to this solicitation.

4.11 Protest/Disputes

Any protest or claim related to this IFB or the Contract award hereunder shall be subject to the provisions of COMAR 21.10 (Administrative and Civil Remedies).

4.12 Bidder Responsibilities

4.12.1 A Bidder, either directly or through its subcontractor(s), must be able to provide all goods and services and meet all of the requirements requested in this solicitation and the successful Bidder (the Contractor) shall remain responsible for Contract performance regardless of subcontractor participation in the work.

4.12.2 If the Bidder is the subsidiary of another entity, all information submitted by the Bidder, including but not limited to references, financial reports, or experience and documentation (e.g., insurance policies, bonds, letters of credit) used to meet minimum qualifications, if any, shall pertain exclusively to the Bidder, unless the parent organization will guarantee the performance of the subsidiary. If applicable, the Bidder’s

IFB for The Comptroller of Maryland Page 21 of 50

Bid shall contain an explicit statement, signed by an authorized representative of the parent organization, stating that the parent organization will guarantee the performance of the subsidiary.

4.12.3 A parental guarantee of the performance of the Bidder under this section will not automatically result in crediting the Bidder with the experience or qualifications of the parent under any evaluation criteria pertaining to the actual Bidder’s experience and qualifications. Instead, the Bidder’s responsibility will be assessed to the extent to which the State determines that the experience and qualifications of the parent are applicable to and shared with the Bidder, any stated intent by the parent to be directly involved in the performance of the Contract, and the value of the parent’s participation as determined by the State.

4.13 Acceptance of Terms and Conditions

By submitting a Bid in response to this IFB, the Bidder, if selected for award, is deemed to have accepted the terms and conditions of this IFB and the Contract, attached hereto as Exhibit 2 –

Sample Contract. Any questions or exceptions to this IFB or the Contract must be submitted by the

“Questions Due Date and Time” prior to Bid submission. Changes to the solicitation, including the

Bid Form or Contract, made by the Bidder may result in Bid rejection.

4.14 Compliance with Laws/Arrearages

By submitting a Bid in response to this IFB, the Bidder, if selected for award, agrees that it will comply with all federal, State, and local laws applicable to its activities and obligations under the

Contract.

By submitting a response to this solicitation, each Bidder represents that it is not in arrears in the payment of any obligations due and owing the State, including the payment of taxes and employee benefits, and shall not become so in arrears during the term of the Contract if selected for Contract award.

4.15 Verification of Registration and Tax Payment

Before a business entity can do business in the State, it must be registered with the State Department of Assessments and Taxation (SDAT). SDAT is located at State Office Building, Suite 2700, 700 E.

Pratt St. Baltimore, Maryland 21202. For registration information, visit https://egov.maryland.gov/BusinessExpress/.

It is strongly recommended that any potential Bidder complete registration prior to the Bid due date and time. The Bidder’s failure to complete registration with SDAT may disqualify an otherwise responsive successful Bidder from final consideration and recommendation for Contract award.

4.16 False Statements

Bidders are advised that Md. Code Ann., State Finance and Procurement Article, § 11-205.1 provides as follows:

In connection with a procurement contract a person may not willfully:

A. Falsify, conceal, or suppress a material fact by any scheme or device;

B. Make a false or fraudulent statement or representation of a material fact; or

C. Use a false writing or document that contains a false or fraudulent statement or entry of a material fact.

https://egov.maryland.gov/BusinessExpress/

IFB for The Comptroller of Maryland Page 22 of 50

A person may not aid or conspire with another person to commit an act under this section.

A person who violates any provision of this section is guilty of a felony and on conviction is subject to a fine not exceeding $20,000 or imprisonment not exceeding five (5) years or both.

4.17 Confidentiality of Bids / Public Information Act Notice

The Bidder should give specific attention to the clear identification of those portions of its Bid that it considers to contain confidential and/or proprietary commercial information or trade secrets, and provide justification why such materials, upon request, should not be disclosed by the State under the

Public Information Act, Md. Code Ann., General Provisions Article, Title 4. This information should be identified by page number and placed in the Transmittal Letter with the Bid.

The Bids shall be tabulated or a Bid abstract made. The opened Bids shall be available for public inspection at a reasonable time after Bid opening, but in any case before contract award, except to the extent the Bidder designates trade secrets or other proprietary data to be confidential as set forth in this solicitation. Material so designated as confidential shall accompany the Bid and shall be readily separable from the Bid to facilitate public inspection of the non-confidential portion of the Bid, including the Total Bid Price.

For requests for information made under the PIA, the Procurement Officer shall examine the Bids to determine the validity of any requests for nondisclosure. Nondisclosure is permissible only if approved by the Office of the Attorney General.

4.18 Use of Bidder’s Form Not Binding on State

The Bidder may not substitute, modify, or provide any other document in lieu of the documents provided with this Bid. Only those forms and documents provided with this solicitation and by the

Procurement Officer will be considered acceptable as bid submission.

4.19 Attachments and Documents Required with the Bid (Table A)

A Bidder shall include the following Attachments with its Bid as a single Bid Package:

Attachments A through E = Bid will be rejected if the required Attachment is not submitted or is incomplete.

Attachments F through R = Bid may be rejected if the required Attachment is not submitted or is incomplete.

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TABLE A - Attachments and Documents Required with the Bid

Attachment Attachment Name

A

Bid/Proposal Affidavit

A Bid submitted by the Bidder must be accompanied by a completed Bid/Proposal

Affidavit.

https://procurement.maryland.gov/wp-content/uploads/sites/12/2024/07/Attachment-A.-Bid-Proposal-Affidavit.pdf

B

The Price Form (as specified within eMMA)

Do not alter this Price Form or the Bid may be determined to be not responsive.

The Price Form must be signed and dated, where requested, by an individual who is authorized to bind the Bidder to the prices entered on the Bid Form.

(See Appendix 2 for specific Price Form Instructions.)

C

Bid Bond https://procurement.maryland.gov/wp-content/uploads/sites/12/2024/07/Attachment-C.-Bid-Bond.pdf

D MBE Forms D-1A

N/A

E Veteran-Owned Small Business Enterprise (VSBE) Form E-1A

N/A

F

Bidder Information Sheet https://procurement.maryland.gov/wp-content/uploads/sites/12/2024/07/Attachment-F.-Bidder-Offeror-Information-

Sheet.pdf

G

Maryland Living Wage Requirements Affidavit of Agreement

(for Services and Facilities Maintenance Contracts - See Appendix 6 for

Details)…