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PROPOSED CONTRACT
Department(s): Bureau of Finance, Office of the County Comptroller
Vendor: PNC Bank, National Association, Pittsburgh, Pennsylvania
Request: Authorization for the Chief Procurement Officer to enter into and execute
Good(s) or Service(s): Electronic payment card services
Contract Value: $0.00 cost
Contract period: 8/1/2014 - 7/31/2017 with two (2) one (1) year renewal options
Potential Fiscal Year Budget Impact: Revenue Generating: FY 2014, $250,000.00; FY 2015, $450,000.00; FY2016, $450,000.00
Accounts: 490-260
Contract Number(s): 1488-13855
Concurrences:
The vendor has met the Minority and Women Owned Business Enterprise Ordinance.
The Chief Procurement Officer concurs.
Summary: The Bank will provide the County with electronic payment card services, utilizing a virtual credit card for vendor payments, that is cost effective, flexible and user friendly with strong security, antifraud and reconciliation features that includes: 1) robust online reporting; 2) a rebate incentive program; 3) on-going marketing and enablement process to expand the use of the virtual card as a form of payment across the County's vendors/suppliers; and 4) 24 x 7 customer service which will include technical and functional user and vendor training.
This is a Comparable Government Procurement pursuant to Section 34-140 of the Procurement Code: PNC Bank. was previously awarded a contract by the Chicago Board of Education through a Request for Proposal (RFP) process. Cook County wishes to leverage this procurement effort.
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