1.1 PURPOSE OF REQUEST FOR PROPOSAL (RFP)
The Town of Devon is requesting proposals from Financial Institutions that are interested in providing the Town of Devon with Investment Management Services. The Town of Devon is committed to providing its citizens with quality customer service, and we expect this same quality of service from our financial institution. The administrative requirements, terms and conditions stated in this Request for Proposal are as envisioned by the Town of Devon at the time of writing, but these may change or be refined in the course of the evaluation and negotiation process.
The Town of Devon has undertaken this Request for Proposal with the intention to possibly enter into an agreement with one of the proponents. This Request for Proposal does not constitute an offer, and the [Town of Devon] will not have any liability or obligation to anyone in connection with this Request for Proposal unless an agreement is approved by City Council and executed and delivered in writing.
The Town of Devon may, among the submissions received, deal or negotiate with any party as the Town of Devon sees fit, and with more than one such party concurrently. In no event will the Town of Devon be required to offer any modified terms to any other party. The Town of Devon shall incur no liability to any person as a result of such negotiations or modifications.
1.2 OBJECTIVES OF THE REQUEST FOR PROPOSAL
Financial Institutions are invited to expand their response to this RFP to cover more features or extra performance provided that they meet the minimum specifications.
The Town of Devon reserves the right to use and include any ideas, concepts, alternate solutions, extra features, enhancements and performance concepts presented in any proposal, whether or not that proposal is selected by [Town of Devon].
The evaluation of responses will be based on a number of factors, weighted according to the needs and judgment of the Town of Devon. The highest return or any Proposal will not necessarily be selected. Any implication that the highest return or any Proposal will be accepted is hereby expressly negated. The Town of Devon reserves the right to accept the Proposal which it deems most advantageous, and the right to reject any or all Proposals, in each case without giving any notice. In no event will the Town of Devon be responsible for the costs of preparation or submission of any Preliminary Submission or Proposal.
