The University of Vermont and State Agricultural
College
Request for Proposal
RFP 44-03-10
Independent Investment Advisory Services
Procurement Services Contact:
Deb Harvey
Deborah.Harvey@uvm.edu
1
PART I.
1.01
Introduction
Background
The University of Vermont (UVM) is requesting proposals to serve as the independent
investment advisor to UVM. While the proposal to serve is for a five-year period, the
University’s Board of Trustees Investment Subcommittee annually determines whether to
extend the professional services agreement with the investment advisor under the provisions
of the five-year proposal.
The University of Vermont and State Agricultural College is a public research university with
strong private university traditions. It is the fifth oldest institution of higher education in
New England. Because the University is a quality, research university in a small State with
modest resources, the University is required to maximize all of its revenue sources, public
and private, and manage those resources as effectively as possible.
The University has an endowment of approximately $290 million, which is managed under
the authority of the Investment Subcommittee of the Board of Trustees. The University’s
most recent comprehensive fundraising campaign undertaken by the University, from 20012007, had a goal of $250 million, and raised over $278 million, resulting in a significant
increase to the endowment.
The Investment Subcommittee has authority over, and is charged with the general
responsibility for prudent investment and reinvestment decisions regarding all restricted and
unrestricted funds of the University, including the endowment. The Subcommittee meets
monthly, during the months of January and July the Subcommittee meets with the
investment advisor and investment managers to discuss performance of the endowment and
to set investment targets for the next fiscal year.
1.02
Scope of Work
The investment advisory services will include the following:
1. Attendance by a least one consultant at all Investment Subcommittee Meetings.
Attendance at the monthly meeting at UVM can meet via teleconference. In person
attendance is required for a one day meeting in January and July which take place in New
York City, NY and Boston, MA.
2.
Research and preparation of materials for the meetings, including, but not limited to,
monthly and quarterly performance reports for the University’s consolidated
endowment, a separate trust, and other separately invested endowments. The
performance reports must provide information by asset class and manager for the
following:
a.
Most recent quarter
b.
Annualized
2
c.
d.
e.
3.
4.
5.
6.
1.03
Annualized for most recent three years
Annualized for the most recent five years
Since inception
Miscellaneous communications and response to inquiries.
Assistance with manager searches.
Research reports and papers on investment and financial issues
Assistance with development and review of strategy and asset allocation.
Terms and Conditions
The terms and conditions set forth in this Request for Proposal (RFP) should be reviewed
carefully to ensure that your proposal is fully responsive.
1.04
Term of Contract
The term of this contract will be for five years from the date that the contract is signed.
However the Investment Subcommittee will annually review the performance of the
investment advisory firm and reserves the right to terminate the contract at the end of each
contract year if it determines that said performance has not been satisfactory.
1.05
Cancellation Clause
The University reserves the right to cancel any contract, with or without cause, by giving the
other party a sixty (60) day prior written notice of its intent to cancel. In the event that
service is not provided at the level expected, the University will notify the vendor in writing
of the specific problem and will expect an immediate solution. If a vendor does not resolve
the problem to the University’s satisfaction within thirty (30) days, the University reserves
the right to immediately cancel the contract.
1.06
Project Schedule
March 22, 2010
RFP Issued
April 5, 2010
Question Period Closes at 12:00 noon ET
April 16, 2010
Responses Due at 12:00 noon ET
April/May 2010
Oral presentations by participating independent investment
advisors
July 1, 2010
Commencement date of contract
3
Part II.
Proposal Instructions
Note: Please follow all instructions as they are written. Failure to do so may result in the
disqualification of your proposal. If you have any questions regarding these instructions,
please contact the designated UVM official indicated on the cover page.
Upon receipt of this Request for Proposal, please send an e-mail to Deb Harvey,
Purchasing Coordinator, Deborah.Harvey@uvm.edu, to acknowledge receipt and to
signify your interest. To ensure timely receipt of any and all University-generated
addenda, it is imperative that you provide your firm’s contact name, telephone and
fax numbers and e-mail address. The University’s preferred method of
communication is e-mail.
This RFP is non-assignable.
2.01
Receipt of Proposals
All RFPs must submitted in PDF format to Deborah.Harvey@uvm.edu and be received no
later than the due date and time indicated in Section 1.06. Please plan in advance because
unforeseen circumstances in electronic mailing will not be considered in late proposals. No
late proposals will be accepted. Message-sent time-stamping shall not be used as a means of
receipt.
2.02
Deviation from Specifications
All items in Scope of Work must be addressed. You may propose an alternate item or
service, as long as your alternate proposal is submitted in conjunction with a proposal for the
specified item or service.
4
Part III.
3.01
General Terms and Conditions
Funds Owner
The University of Vermont and State Agricultural College.
3.02
Examination
At the time of the opening of the proposals, each Offeror will be presumed to have read and
to be thoroughly familiar with this RFP (including Addenda, if any).
The failure or omission of any Offeror to receive or examine any form, instrument, or
document shall in no way relieve the Offeror of any obligation arising out of the University’s
acceptance of their proposal.
3.03
Questions
No oral interpretation made to any Offeror as to the meaning of the specifications contained
in this RFP shall be binding. Every request for such an interpretation shall be made in
writing or via email to Procurement Services. All inquiries received on or before the
deadline in section 1.06 (Project Schedule) will be answered with a written response.
Interpretations made to Offeror’s questions will be in the form of a written Addendum to
the RFP documents and communicated by e-mailed response by the Director of
Procurement Services. Addenda will be issued within four (4) business days of the final day
for submission.
Addenda will be e-mailed to each recipient’s primary contact of RFP Documents at the
address provided to UVM by the Offeror. All addenda shall become part of the RFP and all
Offerors shall be bound by any such addenda, whether or not received.
3.04
Indemnification
The Offeror agrees to indemnify and hold harmless UVM, its Trustees, Officials, employees
and/or Agents from and against any and all loss and expenses (including attorney's fees) by
reason of liability imposed by law or otherwise upon UVM because of injury, death or
damages of any kind sustained by any person and/or to any property arising out of activities
of the Offeror under this Agreement. This indemnification shall not apply, however, to any
loss or expense which arises from the sole negligence of UVM.
5
Part IV.
4.01
Bidding
Basis of Proposals
The Offeror must fully respond to all specifications of the RFP. Failure to comply will be
cause for rejection of the proposal.
4.02
Preparation of Request for Proposals
Erasures or other changes in the proposals must be initialed and dated by the duly
authorized representative of the Offeror.
Each Offeror shall submit with its RFP the names of all subcontractors, if any (excluding
airlines, tour companies, car rental agencies, etc.).
Identification & Submission of Proposals
The completed response and any other documents required by this RFP must be submitted
in accordance with the RFP. Submissions must be made via e-mail to
Deborah.Harvey@uvm.edu.
No proposals will be accepted for consideration after the designated date and time, or at any
other than the designated place.
4.03
Withdrawal of Proposal
Proposals may be withdrawn in writing or by telephone call promptly confirmed thereafter
by the Offeror in writing prior to the time fixed for opening. Withdrawals placed in the mail
postmarked prior to the time set for the proposal opening will be accepted. See cover page
for appropriate UVM contact.
4.04
Opening of Proposals
All proposals received by the deadline will be considered, regardless of any irregularities
therein. UVM nonetheless reserves the right to reject any proposal which does not meet the
terms of this RFP.
All proposals received by the deadline will be opened on the due date/time indicated on the
cover page. Each proposal will be marked as received, and an authorized UVM witness will
sign and date the proposal.
4.05
Design, Typesetting, Printing Proposals
All normal charges, including film work, shall be included in the proposal price. The
successful Offeror agrees that all negatives, film, and mechanicals and any rights associated
with the ownership thereof, shall be the property of UVM. Offeror will store such items for
6
a reasonable period of time (and no event less than six years) without charge and relinquish
them upon request.
4.06
State of Vermont Contracts
The University of Vermont is a political subdivision of the State of Vermont and is entitled
to utilize all contracted pricing offered to the State of Vermont, when it is in the best
interests of UVM.
4.07
Substitutions
All proposals shall be based exclusively on use of those products that are identified by trade
name or manufacturer in specifications or Addenda to Specifications issued during the
bidding period. No substitutions are permitted without the prior approval of the Vice
President for Finance and Administration and Treasurer. Alternate proposals submitted in
conjunction with proposals for the specified product will be considered. Offeror shall clearly
identify and describe such alternates on the proposal or on its letterhead, which must be
signed by a duly authorized representative of the firm.
4.08
Proposal Compliance
By submitting a response to the RFP, the Offeror agrees to all terms, conditions, and
specifications set forth in the RFP; provided that, if an Offeror seeks to be exempted from
one or more of the terms, conditions, and/or specifications contained in this RFP, the
Offeror must expressly state in the Proposal Compliance Form, which is included in the
RFP packet. Any and all proposed exceptions to the terms, conditions, and/or specifications
set forth in this RFP must be stated in the Proposal Compliance Form with reason(s) for the
exception. The Proposal Compliance Form must be returned signed with Offeror’s response
even when no exception has been stated. The Proposal Compliance Form cannot be used
for substitutions. Substitutions will only be accepted as described in Section 4.07.
4.09
Award of Contract
The contract will be awarded in the sole discretion of UVM to the Offeror submitting an
acceptable proposal that best complies with the terms, conditions and specifications of the
RFP and/or which best meets the overall needs of UVM. Price will not be the sole
determining factor in the contract award.
The Offeror to whom the award is made will be notified at the earliest practical date. UVM,
however, reserves the right to reject any or all bids and/or to waive any irregularity in bids
received whenever such rejection or waiver is in the best interests of UVM.
UVM seeks to make purchases which meet the University's standards, including and without
limitation, involving quality, quantity, delivery and service. A reasonable price need not be
the lowest price available, but is one that offers the highest total value to UVM.
7
4.10
Licensing Requirements
UVM has registered the following trademarks: "The University of Vermont", "UVM",
"Catamounts", the official University seal, the Tower logo, and the V-Cat logo. The
University may also register additional trademarks. All uses of the University’s marks
require written permission from the University Licensing Program.
Any Offeror awarded an RFP that requires use of a UVM trademark, and who is not already
approved as a UVM licensed vendor, will be required to obtain permission for such use from
the University Licensing Program. Failure to obtain Licensing approval for use of University
trademarks shall disqualify the Offeror from receiving the award and may subject the
Offeror to liability for trademark infringement.
4.11
Taxes
UVM is exempt from most sales and federal excise taxes associated with the purchase of
tangible items. Taxes should not apply to fulfillment of the contract, which is for services
only.
4.12
UVM Smoking Policy
UVM, in order to maintain a safe and healthful atmosphere and to remain in compliance
with State statutes, is primarily a nonsmoking institution. Offeror, Offeror’s employees, and
Offeror’s agents may not smoke in any UVM building.
4.13
Equal Employment Opportunity
During the performance of this contract (or purchase order), the contractor/vendor agrees
to comply with all Federal, state and local laws involving equal employment opportunities
and nondiscrimination and non-segregation of facilities including, but not limited to,
requirements set out at 41 CFR 60-1.4, 60-250.4 and 60-741.4, and 47 CFR 76.71 – 76.79,
which equal opportunity requirements are hereby incorporated by reference.
Notification is hereby given that compliance with these clauses may require the
contractor/vendor to annually file certain reports (e.g. EEO-1 Report and/or FCC Form
395-A) with the Federal government and may require the contractor/vendor to develop
written Affirmative Action Programs for Women and Minorities, covered Veterans and/or
Handicapped Persons.
4.14
Confidentiality of Proposals
The University of Vermont is subject to the Vermont Public Records Act. 1 VSA Section
315 et seq., and cannot guarantee that information submitted in response to this RFP will be
exempt from disclosure under the Act. Documentation generally is held as confidential
pending selection of a bid and finalized with a contract. At that point, documentation is
subject to release unless it is otherwise exempt from disclosure under the Public Records
Act.
8
The Public Records Act, 1 VSA Section 317 (b)(9)., does contain an exemption for the
following documents: trade secrets, including, but not limited to, any formulae, plan, pattern,
process, tool, mechanism, compound, procedure, production data, or compilation of
information which is not patented, which is known only to certain individuals within a
commercial concern, and which gives its user or owner an opportunity to obtain a business
advantage over competitors who do not know it or use it. Please note: Monetary sections of
proposals cannot be withheld as proprietary or trade secrets.
Offeror’s who believe documentation they have submitted to the University in their RFP
response can be defined as a trade secret or is otherwise exempt from disclosure under the
Act should so state in their submission, specifying how the documentation meets the above
definition or is otherwise exempt. Material the Offeror considers to meet this “confidential”
test should be clearly identified in a separate section of the proposal. Sections submitted to
UVM which are clearly marked “confidential” in good faith by the Offeror will not be
purposely released by UVM to any outside parties except as required by law.
UVM does not undertake any responsibility as to safeguarding any such portions or the
terminal and commercial data therein:
(a) to the extent the data is in the public domain,
(b) to the extent other treatment is provided in a contract award or other written
arrangement between UVM and the Offeror concerning such portion, or
(c) Three years after the date of submission. Abuse by the Offeror of confidential
designation may be a basis for rejection of the bid.
4.15
Insurance
If indicated in Part VII. Items for Inclusion, the Offeror shall provide, with its proposal,
proof of insurance as stated below. In the event the firm does not carry the coverage
specified, the firm must provide written proof that it will be able to provide the coverage
specified if awarded the contract. The firm selected (“Contractor”) shall secure, pay for and
maintain in effect the following insurance during the contract period:
Commercial General Liability Insurance: Including Bodily Injury and Property Damage
Liability, Independent Contractors Liability, Contractual Liability, Product Liability and
Completed Operations Liability in an amount not less than $1,000,000 combined single limit,
per occurrence, and $1,000,000 annual aggregate.
Workers Compensation and Employers Liability Insurance: For any Contractor with
employees, standard workers compensation as required by Vermont State statute and
employer’s liability insurance in an amount not less than $100,000 per accident, $500,000
annual aggregate.
Automobile Liability: For Contractor employees or agents who will drive on UVM’s
premises, Automobile Liability in an amount not less than $1,000,000 per occurrence for
9
bodily injury and property damage, including owned, hired, and non-owned vehicle
coverage.
Professional Liability: $1,000,000 each claim, when applicable.
The Contractor shall name the University of Vermont as additional insured on its liability
policies and shall provide UVM notice of cancellation or non-renewal of coverage promptly,
and within no less than five (5) business days, of notice of cancellation or non-renewal by
the Contractor’s carrier to the Contractor. The University does not need to be named
additional insured on the Contractor’s workers’ compensation policy.
The Contractor must submit a copy of the Certificate of Insurance verifying the above
coverage must be submitted to the UVM Department of Risk Management twenty (20)
calendar days prior to the Contractor selling or distributing products and services at UVM.
Any liability coverages on a “claims made” basis should be designated as such on the
certificate.
Failure of the Contractor to take out and/or maintain any required insurance shall not
relieve the Contractor from any liability under the contract, nor shall the insurance
requirements be construed to conflict with or otherwise limit the obligation of the
Contractor concerning indemnification. The Contractor’s insurance policies shall be
considered primary insurance and exclusive of any insurance carried by UVM.
The Contractor shall save and hold harmless UVM from and against all suits for claims that
may be placed upon alleged injury (including death) to any person or property that may
occur or that may be alleged to have occurred, in the course of the performance of this
contract, whether such claim be made by an employee or agent of the Contractor, or a third
person and whether or not it shall be claimed that the alleged injury (including death) was
caused through a negligent act or omission of the Contractor and, at his own expense, the
contractor shall defend any and all costs and other expenses arising therefrom.
Section 4.16 Suspension & Debarment
In accepting this Purchase Order or Contract, recipient certifies that neither it nor its
principals are presently debarred, suspended, proposed for debarment, declared ineligible or
voluntarily excluded from participation in this transaction by any Federal department or
agency. Any change in the debarred or suspended status of the recipient during the life of
this Purchase Order or Contract must be reported immediately to UVM.
10
Part V. Detailed Specifications
Requirements for Preparation and Submission of the Bid Proposal
The University intends to incorporate the selected firm’s Proposal to Serve (hereafter
referred to as the “Proposal”) by reference into the contract for professional services
between the University and the firm. As such the Proposal should be prepared in the form
of a binding agreement, complete with respect to:






staffing commitments,
products and services to be provided,
reports to be produced,
schedule to be followed,
fees to be charged, and
a binding signature.
In addition to the information you may want to provide as part of your proposal, please
respond in writing to each of the following:
Section 5.01
FIRM OVERVIEW
a. Name of your firm, its address, telephone number, and primary contact for the
request for proposal.
b. Provide an executive summary (no more than two pages) explaining why your firm
believes it is the best qualified to provide investment advisory services to the University.
What can the firm offer that competing firms cannot?
c. List your regional offices. From which office would this account be serviced?
d. How long has the firm been in business? What is the recent history of your firm?
e. Explain your organization’s present ownership structure, including affiliates and
subsidiaries.
f. Do you have any affiliations with investment managers, trusts, brokerage firms, etc.? If
so, how do you avoid conflicts of interests?
g. Are you registered with the SEC as an investment advisor? If so, provide your Form
ADV Part II.
h. Is providing investment advisory services currently one of your organization’s principal
lines of business?
i.
What percentage of your organization’s revenue is attributable to the investment
advisory practice?
11
j.
Does your organization provide trust, investment management or securities brokerage
services (including commission recapture)? If so, please identify and explain all such
services provided.
k. What percentage of last year’s revenue was attributable to such trust, investment
management or securities brokerage services?
l.
Does your organization provide any other services or engage in any other lines of
business aside from investment advisory services, trust, investment management, or
securities brokerage services? If so, please describe such services and the percentage of
last year’s revenue that was attributable to such services.
m. Does your organization solicit or accept fees for placing or helping to place investment
managers? If so, describe the extent and circumstances.
n. Does your organization have any clients or associations that could present a conflict of
interest and possibly compromise the objectivity of its advice to the University of
Vermont? If so, please explain.
o. Does your organization receive any products or services from any investment managers?
If so, identify each such service and whether compensation is paid and, if paid, the
amount of such compensation.
p. Does your organization carry a fiduciary liability or any other insurance that would be
beneficial to the University of Vermont Endowment Fund? If so, please describe the
insurer, the type of insurance coverage, the beneficiary of such coverage, the limits of
such coverage and the deductible amount under such coverage. Will you supply a copy
of the policies for review if requested? Does such insurance require notice of pending
cancellation to your clients or is it subject to modification to require such notice? If so,
would you agree to require such notice to the University of Vermont?
q. Please comment on your experience with clients and managers that use socially
responsible investment criteria, in general and within the following asset classes: U.S.
equity, Non-U.S. developed market equity, U.S. fixed income, and U.S. cash.
r.
UVM may decide to prefer managers that use positive social screens within their
investment process. What knowledge do you have of managers that utilize positive social
screens?
12
Section 5.02 CLIENTS / STAFF
b. Number of clients (in the following asset ranges)
1.
2.
3.
4.
5.
0-50 million
51-100 million
101-500 million
500-1 billion
Over 1 billion
_________
_________
_________
_________
_________
c. Please provide, on an attachment, a representative list of your investment advisory
clients.
d. Please provide the total market value of your clients’ assets as of the end of the last
calendar year.
e. Please list your Higher Education investment fund clients and size of the portfolios on
which your organization consults for them.
f. Please list clients that have terminated your organization’s service during the past three
years, and indicate their reasons for terminating your services.
g. For reference purposes, provide the name, address, telephone number and contact
person for five current clients (preferably Higher Education fund clients) for whom your
organization provides comprehensive investment advisory services.
h. What is the total size of your staff? How many of these are investment consultants?
Please provide an organizational chart of your firm
i.
How is your organization organized to service our account?
j. Specify who would likely be assigned to service our account and provide
biographical information on each person.
k. How will continuity of service be maintained?
l.
What is your client to consultant ratio?
m. What is your average number of accounts handled per investment consultant?
n. How do you attract, retain and motivate qualified consultants?
o. What is the turnover rate of your professional staff? Explain.
13
p. Please list all consultants who have left your staff during the past three years. Include
their reasons for leaving, and present employer (if known).
Section 5.03 INVESTMENT POLICY
a. Describe briefly the processes and tools your organization uses to help clients develop
investment policies and objectives and also comment on your process for recommending
modifications to investment guidelines.
b. Provide an outline of the issues and items that would be covered in a typical policy
statement.
Section 5.04 ASSET ALLOCATION / PERFORMANCE MEASUREMENT
a. What is your approach to development of asset allocation guidelines? Please describe
this process in detail, including application of major variables (e.g. – risk tolerance,
emerging liabilities, etc.)
b. What asset classes are included in your work?
c. Does your approach include passive strategies such as indexation? If so, please describe.
d. Please explain size, composition, and source of your performance measurement
database. What indices are used for relative comparisons? Were your software systems
developed entirely in-house or purchased from outside sources? If you do not maintain
databases, whose database do you use?
e. Was your performance reporting software generated in house or purchased? If
purchased, from whom? If subject to a licensing agreement, indicate when this is due to
expire.
f. Briefly describe your reporting system (please provide a sample report).
g. How frequently are reports produced and how quickly are they distributed?
h. Describe your firm’s process of monitoring investment managers for a client. Relate the
process to a client’s goals, objectives, and investment policy.
i.
Who would participate the Investment Subcommittee Meetings from your firm?
j.
How frequently do your consultants usually meet with their performance evaluation
clients?
k. To what extent can your performance reports be customized to meet a particular client’s
needs? Please explain.
14
Section 5.05 MANAGER SEARCH / SELECTION CRITERIA
a. Does the firm maintain one or more universe databases of investment managers? Are
they purchased or compiled? How many are contained in each universe(s)? Please
describe each.
b. Describe your firm’s process for the evaluation and selection for recommendation of
investment managers for a client.
c. How do you verify the validity of managers’ performance records?
d. Please provide an example of a report prepared for an equity manager search.
e. What computer systems do you utilize to help in your manager screening? Which are
purchased and which are proprietary?
f. Do you monitor your success in selecting managers? Explain how you measure the level
of success of existing managers. Please be specific.
g. What criteria are used to recommend termination of a manager?
h. Please describe, in detail, the optimal role that your firm would like to take in manager
presentations to the Investment Subcommittee. What other services are provided, such
as custodian searches, due diligence visits, proxy voting, etc.
Section 5.06 FEES
Please provide a firm fee quote. Proposals should state all fees, including expenses, for the
five years beginning with fiscal year ending June 30, 2010 through June 30, 2015.
a. Are there any other services your firm provides outside of investment consulting? If so,
please provide a short description of those services.
b. Would you charge separately for travel expenses? If so, explain in detail your policy.
c.
What other costs or expenses might we incur with your firm?
15
Part VI.
Evaluation Criteria
Section 6.01 Proposal Evaluation
The written Proposal will be reviewed by the Investment Subcommittee of the Board of
Trustees prior to the oral presentations. UVM reserves the right to make an award not
based on cost alone, but on the criteria which best meets the needs of UVM. The decision
of UVM will be made in its sole discretion and will be final and binding.
Section 6.02 Proposal Evaluation Criteria
UVM intends to accept the proposal which best embraces the overall needs of UVM from
both a service and financial viewpoint.
The Proposal will be judged on:
 the firm’s professional qualifications,
 the firm’s understanding of the investment needs of the University,
 the firm’s understanding of the institutional investment environment,
 the adequacy of the firm’s strategy and approach,
 the fees and related expenses, and
 the quality and content of the oral presentations.
Section 6.03 Proposal Presentation
UVM may, at its sole option, elect to require on-site presentation(s), explanations of the
Offeror’s proposal prior to award of any contract. The oral presentation allows the firm to
explain and elaborate on its proposal. The oral presentation team must include all members
of the advisory team. The oral presentations will be held in April/May 2010. Each firm will
have up to one hour to make the presentation. While there is no prescribed format to the
presentation, the firms should take time to introduce the team members, discuss the
advantages of hiring the firm, and allow time for questions. In addition, each firm selected
for oral presentation will be provided information regarding the current allocation policy of
the University’s endowment. The oral presentation should include a review and critique of
the current portfolio. The Investment Subcommittee, in consultation with the University’s
financial management will make a recommendation to the Board of Trustees after the oral
presentations. The Board of Trustees will vote on the Subcommittee’s recommendation at
their May, 2010 meeting, or at a subsequent Executive Committee meeting.
16
Part VII.
Items for Inclusion
The intent of this section is to describe a complete proposal. Your proposal may not be
considered, and may be rejected as non-responsive, if the proposal does not include the
items listed below. Please provide a signed and fully completed Form of Proposal that
includes the following:
(a)
All requested information in RFP Part V. Detailed Specifications.
(b)
All exceptions to the terms, conditions, and specifications of this RFP clearly
explained on the Proposal Compliance Form, RFP Section 9.01.
(c)
An acknowledgment of receipt of all addenda received on the Form of
Proposal, RFP Section 8.03.
(d)
A complete list of all trade secrets or proprietary information claimed under
Vermont law, RFP Section 8.04.
17
Part VIII.
To:
Format of Proposal
The University of Vermont
Deb Harvey
Procurement Services
Deborah.Harvey@uvm.edu
The undersigned Offeror, in response to the Request for Proposal #44-03-10, having
examined the Scope of the Work, Proposal Requirements and this Form of Proposal, all of
which comprise the Contract Documents, hereby propose to supply Independent
Investment Advisory Services.
8.01
Pricing Sheet
Please provide pricing as indicated in Part V. Detailed Specifications.
8.02
Additional Details
Submit on attached sheets any additional details of your proposal and indicate the number of
sheets that are being attached in the space following.
______sheets have been attached.
8.03
Addenda
Offeror acknowledges receipt of the following addenda, which are a part of the Contract
Documents:
No.
Date
No.
18
Date
8.04
Proprietary Information
The sections of this proposal listed below represent trade secrets or proprietary information.
NOTE: Monetary sections of this proposal cannot be withheld as proprietary or trade
secrets.
Section/Subsection
8.05
Page No.
References
UVM reserves the right, once all proposals have been opened and reviewed, to request
background data on any and all personnel assigned to perform under this contract.
8.06
Subcontractors
Offeror shall not assign or subcontract any agreement resulting from this RFP, or any
portion thereof, without prior written approval from a duly authorized UVM official.
8.07
Right of Acceptance and Rejection
The Offeror understands that UVM reserves the right to accept or reject any or all
proposals, to waive irregularities, defects, or technicalities in any proposal, and to accept the
proposal in whole or in part that it deems to be in UVM’s best interest.
8.08
Modification and Withdrawal
The Offeror agrees that proposals submitted to UVM may not be modified or withdrawn
for a period of one hundred twenty (120) days after the date and time scheduled for the
receipt and opening of the proposals.
19
8.09
Bidder’s Affidavit
The Offeror hereby warrants and certifies by signing below that: This proposal is genuine
and is not made in the interest of or on behalf of any undisclosed person, firm or
corporation; the Offeror has not directly or indirectly induced or solicited any other vendor
to put in a false or sham proposal; the Offeror has not solicited or induced any person, firm
or corporation to refrain from bidding; that the Offeror has not sought by collusion or
kickback to obtain any advantage over other vendors of the University of Vermont; and that
the person submitting this proposal is a duly authorized official of the Offeror .
Business Name
Official Business Address:
Federal Employment Identification Number:
Firm’s State or Foreign Country of Residence:
Authorized Signature:
Name, Printed or Typed:
Title:
Phone:
E-mail:
Date:
FAX:
Offeror’s Representative(s) to contact during normal office hours regarding this proposal:
Phone:
E-Mail:
FAX:
20
Part IX.
9.01
Attachments
Proposal Compliance Form
I hereby certify total compliance with all terms, conditions, and specifications of this Request
for Proposal, except as expressly stated below:
Section Number
Comments
Name:
Title:
Signed:
Date:
21