Fundamental Research and Ratings Services

The State of Michigan Department of Treasury is issuing an Invitation to Negotiate (ITN) for Fundamental Credit Research and Credit Ratings Services under commodity code 946-36. This is a single-source procurement solicitation posted on October 23, 2017, with a submission deadline of October 30, 2017 at 5:00 p.m. EST. The state is seeking to procure comprehensive credit research and ratings services to support treasury operations and financial analysis needs. The intended provider is CreditSights, located at 470 Park Avenue South, Floor 12, New York, New York 10016. However, the state is inviting alternative vendors who believe they can provide equivalent products or services to submit written responses challenging the single-source designation and describing their equivalent offerings by the October 30, 2017 deadline. Written questions regarding the ITN must be submitted to Julie Collins, Solicitation Manager, no later than October 25, 2017 at 2:00 p.m. EST through www.michigan.gov.com/SIGMAVSS. The contract will be structured as a one-year initial term, and vendors must comply with the State of Michigan Enterprise Procurement Standard Contract Terms (Short Form), which govern all vendor relationships and include provisions for F.O.B. destination delivery, payment within 45 calendar days via Electronic Funds Transfer, and comprehensive warranties regarding product quality and intellectual property rights.

The ITN document does not identify specific set-aside designations, disadvantaged enterprise restrictions, or preferences for particular types of organizations. CreditSights is identified as the intended single-source provider, though the state's invitation mechanism allows for alternative vendor proposals. The procurement does not specify renewal options beyond the initial one-year term, identify an incumbent provider status, or detail total contract value and funding source information. The contract will be governed by Michigan law and standard state procurement terms, which grant the state significant rights including termination for convenience without penalty, audit rights for four years post-contract, and ownership of all materials, tools, designs, and intellectual property developed under the contract. No specific pricing terms, budget ranges, or award values are detailed in the available procurement documents.