The City of Framingham is seeking proposals for lockbox banking services. Proposals are due by June 25, 2026, 10:00 AM, and must be submitted electronically through BidNet Direct. Key requirements include same-day deposit capability, secure electronic platform for data retrieval, and compliance with Massachusetts General Laws. The contract term is from July 1, 2026, to June 30, 2027, with potential for two one-year renewals. Subcontracting is limited to courier services. Evaluation criteria include proposer experience, technical approach, data security, technology platform, financial stability, and value-added services.
Proposals must be received no later than June 25, 2026, by 10:00 AM.
The city shall make every effort to furnish payment within forty-five (45) days of receipt of a reasonably detailed invoice.
All materials and work shall be guaranteed by the vendor against defects for a period of one year from the date of final acceptance by the city.
The contract will be awarded to the responsive and responsible bidder offering the most advantageous proposal, based on criteria described in the scope, requirements, evaluation criteria, and price.
The proposer must have a minimum of three (3) years relevant experience providing the lockbox services required in this RFP and key staff must have a minimum of three (3) years relevant experience.
In case of any default on the part of the vendor, if said default is not made good within such time as the city shall specify in writing, the city may terminate this agreement.
Questions concerning this request for proposals must be submitted in writing before 10:00 a. m. on June 17, 2026.
Proposals conditioned on acceptance of optional services will be rejected as conditional. Failure to comply with contract terms, including insurance and nondiscrimination, can lead to termination.
™
