News Releases
Government Home Search Sitemap Contact Us  

December 20, 1999
(Executive Council)

Request for proposals for provision of banking services to government

Treasury Board President Anna Thistle announced today that government has formally requested proposals from financial institutions for the provision of banking services to the provincial government, commencing June 1, 2000. The closing date for proposals is February 29, 2000. Government will engage a Schedule I bank as its main banker and all Schedule I banks will be sent the Request for Proposals document on December 21, 1999.

"As a result of a formal evaluation process to be carried out by officials of both the Treasury Board Secretariat and the Department of Finance, a single financial institution will be chosen by Treasury Board as government's main banker,' said Minister Thistle. "This financial institution will be required to enter into a formal agreement with government to cover a term of five years with an option by government to extend the agreement for an additional five years. Cost will be the primary factor in evaluating proposals, although consideration will be given to certain qualitative factors."

Government has engaged the Canadian Imperial Bank of Commerce (CIBC) as its main banker since 1984. The existing agreement with CIBC was the culmination of a request for proposals process which took place in 1989, with government exercising a renewal option in 1994 for an additional five years. The minister also announced that a separate request for proposals will be initiated this month for the procurement of credit (Visa and MasterCard) and debit card acceptance services. This request will be advertised in newspapers throughout the province.

Media contact: David Wells, Communications, (709) 729-6830.

1999 12 20                3:45 p.m.


SearchHomeBack to GovernmentContact Us


All material copyright the Government of Newfoundland and Labrador. No unauthorized copying or redeployment permitted. The Government assumes no responsibility for the accuracy of any material deployed on an unauthorized server.
Disclaimer/Copyright/Privacy Statement