New York State Contract Reporter #2138290

Five-Year Certificate of Deposit for Taconic DDSOO Patient Fund ($1,500,000)

This opportunity is for a five-year Certificate of Deposit valued at $1,500,000 for the Taconic DDSOO Patient Fund, managed by the New York State Office for People with Developmental Disabilities (OPWDD). - Government Buyer: - New York State Office for People with Developmental Disabilities (OPWDD) - Taconic Developmental Disabilities State Operations Office (DDSOO) - Contract Management Unit - Products/Services Requested: - Five-year Certificate of Deposit (CD) - Amount: $1,500,000 - Quantity: 1 - No specific part number - Quarterly interest payments to Taconic DDSO Patient Fund Account - OEMs and Vendors: - No specific OEMs; commercial lending institutions are eligible - Past awards have included JP Morgan Chase - Unique/Notable Requirements: - Bank must be a commercial lending institution with sufficient collateral - Must have filed required documents with NYS Office of the State Comptroller - CD will be titled to NYS Office of State Comptroller, Taconic DDSO as Trustees for Patient Fund Account - Selection based on highest interest rate offered - Only one contractor will be selected - No diversity goals (SDVOB, MWBE, DBE) set for this procurement - Estimated Contract Value: - $1,500,000 (principal amount of CD) - Period of Performance: - Five-year term, with quarterly interest payments throughout - Primary Competitors: - Major commercial banks and lending institutions (e.g., JP Morgan Chase, Bank of America, Wells Fargo, Citibank) - Competing Products: - Alternative Certificates of Deposit from other commercial banks - Other fixed-term deposit products meeting NYS requirements

Description

The Office for People with Developmental Disabilities (OPWDD) Contract Management Unit on behalf of Taconic Developmental Disabilities State Operations Office (DDSOO) is soliciting quotes for a five-year Certificate of Deposit for the term of 09/22/2026 to 09/22/2031 in the amount of $1,500,000.00. Interest must be paid quarterly to the State of New York, Taconic DDSO Patient Fund Account on specified dates throughout the term. The bank must be a commercial lending institution, have sufficient collateral, and have filed necessary documents with the NYS Office of the State Comptroller prior to the bid date. OPWDD will select the responsible and responsive bidder that provides the highest interest rate, with only one contractor to be selected.

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