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Notice Details

Title: Central Treasury Banking Services- 3rd NAE
Procurement
Finance (DOF)
CITIBANK, N.A.
388 Greenwich Street attn: Public Sector Group, New York, NY, 10013
Services (other than human services)
Negotiated Acquisition
9/19/2022
Award
$1,591,894.00

PIN#83622N0009001

Compelling need exists to extend contract one or more times beyond the permissible cumulative 12-month limit, and the ACCO has determined that the proposed term of the extension is the minimum time necessary to meet the need, and the ACCO certifies that the supplier’s performance is satisfactory or that any deficiencies have been or are effectively addressed through a corrective action plan.
Description

The New York City Department of Finance (DOF) Treasury Division is requesting funding for the extension of a 3rd contract extension  with Citibank, N.A. to provide banking services. These services are for the Central Treasury, Office of the Comptroller’s custody accounts, Workers Compensation Accounts and Vendor payment accounts and the Citywide Payments Services and Standards (CPSS) network of accounts, which collects approximately $30 billion annually, and multiple Agency accounts. DOF has determined that there is a compelling need to further extend the  base RFP Contract  for a period of two (2) years to allow for uninterrupted Central Treasury Banking Services and time to complete the RFP award for the replacement contract.

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