Circuit court trust management solution

Greenville County, South Carolina is seeking proposals for a Circuit Court Trust Management Solution through RFP #22047, targeting qualified banks to provide an FDIC-insured banking solution for managing Circuit Court Trust Accounts. The current trust account portfolio consists of approximately 74 accounts totaling $10,433,280, with the primary objective of establishing a banking solution where fees are offset by interest earned on deposits. Required deliverables include electronic and paper statements, online banking capabilities featuring stop payments, check images, wire transfers, and quick access to closed trust account records. Evaluation criteria are equally weighted across five key areas: responsiveness to the RFP, trust account funds management, ease of opening and closing trust accounts, references, and detailed customer support. The proposal was issued on March 4, 2022, with responses due by March 30, 2022, at 3:00 pm, and a tentative award date of April 11, 2022. Vendors must submit proposals electronically through the county's online procurement portal and provide a company background, at least three references, and a detailed scope of work demonstrating project understanding.

The procurement does not specify set-aside designations or restrictions for specific enterprise types. The proposed contract is a services agreement effective from the Notice to Proceed date until June 30, 2023, with options to extend for up to four additional one-year renewals. While no incumbent vendor is mentioned, the contract requires the selected bank to maintain specific insurance policies, including $1,000,000 in Comprehensive General Liability and Automobile Liability coverage. The agreement includes provisions for termination, with the County able to cancel the contract with 30 days' written notice, and is subject to non-appropriation clauses that could nullify the contract if funds are not appropriated in the current or subsequent fiscal years. Though the exact contract value is not specified, the substantial volume of trust accounts (over $10 million) suggests a potentially significant financial opportunity for the selected banking partner. The contract is structured to ensure no direct costs are assessed to the court, with banking fees intended to be offset through interest earnings on the trust account deposits.