Lockbox Services

Questions • Is there an incumbent and if so, who is the incumbent? M&T Bank • What are the anticipated volumes? Average of 200 plus payments totaling $6,000,000 Plus per year. • Is this solicitation and it's requirements separate and distinct from the US Treasury's General Lockbox Network SOW. Yes • Do you require paper dispatch back from the Lockbox to your office? Yes. Copies of the checks and the Supporting Documents "Payment Voucher" • Anticipated volumes including number of transaction per month, per year, and average size of each transaction Average of 200 plus deposits per year with approximate total amount of $6,000,000 plus per year. The size of each transaction could vary. The Lockbox must process any payment it receives with proper documentation regardless of the size. • What are the current addresses of the lockboxes? M&T Bank, P.O Box 64523, 8th Floor, 1800 Washington Blvd, Baltimore, MD 21230 • Are they wholesale/retail? Commercial Bank • Can you provide sample remittance materials? No • What is their processing turn around requirement? Deposit the funds daily, Wire the Funds collected from (Monday through Friday) on each Friday to State Street Bank (PBGC's Custodial Bank) and send all the copies of the checks and the "Supporting Documentation" for the week's Lockbox activities to PBGC at 1200 K Street, N.W. Washington, DC 20005, Suite 640 "Investment Accounting Branch" attention Reza Afshar. • Are these image lockboxes? Currently we are getting only the hard copies. • Do they require data entry? Alpha number, numeric? How many keystrokes? Not currently - Other than those required for normal Banking transactions. • Any stamping/image overlay, stapling requirements? Yes. The Lockbox Staff staples the copy of the check to the related Payment Voucher. • Any unique batch reference identification/ Document Locater Number schemes? Yes. The copy of the check provides deposit information (Date, etc.) • Do they have check and list or multiple checks per remittance slip? It all depends on the sender of the Funds. It could have multiple checks that will require stapling to the Payment Voucher. • What is their current exception rate? We do not have this information. • What is the process for handling exception and suspense items? No suspense items - The Funds needs to be deposited on a daily basis. If the Lockbox cannot identify and process the payment, then the Lockbox will need to send that payment to PBGC for follow-up and resolution. PBGC will then send the check back to the Lockbox for processing with proper information. • Do they need images of the envelopes? No. the Lockbox will put the copy of the check and the original Payment Voucher in the envelop and send them to PBGC with the weekly package. • Do they need paper returned? Yes. If the lockbox receives any letters or documents, they will send those items to PBGC with the weekly package. • In the statement of work, there is no indication of what the average balances are and the expected monthly or weekly volumes with regard to the item transactions. We need to know the information in order to respond to your Request for Quote. Approximately 200 plus payments per year with total of $6,000,000 plus per Year. • Please confirm the location of the lockbox does not matter - i.e., it does not have to be in Washington, D.C. Please see above. The Lockbox is located in Baltimore Maryland. • If the information can be viewed electronically on the web, is the Agency open to viewing the information in this manner or must it be as stated in the Scope of Work. It must be as stated in the Scope of the Work. Also, PBGC will need to have online access to the Lockbox Bank Statement. • If the check copies and the payment vouchers are imaged on the web and able to be accessed for seven years, do you still require the hard paper copies? Yes. • Our Bank uses a third party processor in providing its lockbox services, are you provisions and clauses under Attachment C going to be requested of our processor - e.g., sections (b) and (c) of Attachment C. Yes • • Are you willing to accept images of checks processed, ‘Payment Voucher' and accompanying documents rather than weekly packages of physical items? • What is the anticipated monthly volume of mailed items to be processed? • Are there known significant fluctuations over a 12 month period? No. we do not wish to change the current process at this time. We need to continue the current practice of receiving hard copies. Questions regarding the volume has been addressed previously. It could fluctuate but the average is about 17depostis per month. • Does the date of November 28 refer to the start of implementation work, or the start of transaction processing? Yes • Will that institution be invited to bid? Yes • How long has the current contract been in place? Since beginning of the program (1996) • Is a long performance period possible? 1 year • No Section D is attached and there is a section listed as "Attachment E." Should "Attachment E" be labeled "Attachment D"? If no, could you provide Attachment D, Pricing Schedule? Section E is Section D