Banking Safekeeping Depository Account Services

Solicitation STATE 0000000540SL is a request for proposals issued by the State of Missouri Office of Administration, Division of Purchasing, on behalf of the Department of Commerce and Insurance. The objective is to secure a contractor to provide banking safekeeping and depository account services, specifically for the administration of securities and certificates of deposit held by regulated insurance companies. The selected vendor will be responsible for entering into joint custody agreements, managing assets separate from their general liabilities, and providing a secure online communication system for reporting and data transfers. Services must comply with Missouri laws, including Chapters 354 and 374 through 385 of the RSMo, as well as NAIC custodial and safekeeping requirements and the Financial Condition Examiner’s Handbook. The contract is a firm fixed-price agreement where the contractor is paid directly by the insurance companies for account administration, ensuring the State of Missouri incurs no financial liability for these services. Proposals are evaluated on a 200-point scale, split equally between a cost proposal and a technical proposal, with the latter focusing on personnel qualifications, methodology, and work plans. Eligible vendors must certify compliance with Missouri business laws, including tax compliance and the Anti-Discrimination Against Israel Act. Proposals must be submitted electronically via the MissouriBUYS portal by August 28, 2026, at 2:00 PM Central Time. Performance of services is centered in Jefferson City, Missouri.