Statewide Banking and Money Counting Services
New Jersey Turnpike Authority > Procurement and Materials Management Department
Original Solicitation Links
RM-200082 REBID
]RFB BANKING & MONEY COUNTING SERVICES REBID
Contact
Submission Instructions
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Description
The New Jersey Turnpike Authority is soliciting a contractor to provide banking and money counting services for toll revenues collected across the New Jersey Turnpike and Garden State Parkway. The scope includes establishing separate deposit accounts, counting and verifying currency and coin, processing deposits and transfers, providing electronic balance and transaction reporting, transmitting required data files, returning supporting documentation, and reporting discrepancies and counterfeit currency. The contractor must provide secure money-counting operations, maintain specified financial institution, fidelity/crime, umbrella, and other insurance coverage, and meet banking qualifications and credit-rating requirements. The solicitation permits subcontracting with prior approval and requires extensive bid documentation, including audited financial statements, a Type II SSAE 16 report, a qualification questionnaire, bid security, consent of surety, and applicable disclosure and compliance forms. The contract term is three years, with two additional one-year extension options.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- Commercial General Liability — $2,000,000.00
- Business Automobile Liability — $2,000,000.00
- Workers Compensation
- Employers' Liability — $1,000,000.00
- Umbrella Liability — $3,000,000.00
- Financial Institution Bond (Bankers Blanket Bond) — $4,000,000.00
- Fidelity/Crime Insurance — $4,000,000.00
- Bid Bond — 10%
- Performance Bond — 100%
- Minimum 2 references
- Client point of contact required for each reference
Documents
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