Financial Services, Lockbox

The City of St. Petersburg, Florida, has awarded a contract to Bill2Pay LLC for lockbox services, which includes the processing of city utility payments. The contract has a term of three years, with an option to renew for an additional two years. The contractor is responsible for providing all labor, materials, supervision, tools, equipment, and vehicles necessary for lockbox services. The city is responsible for providing a single point of contact to administer the agreement. The contract includes provisions for payment processing, data transmission, and account management. The contractor must maintain internal records of all payments processed for a period of at least one year from the processing date. Some key points of the contract include: • The contractor must provide lockbox services and process city utility payments. • The contractor must provide electronic copies of payment remittance stubs to the city within one business day of processing. • The contractor must maintain internal records of all payments processed for a period of at least one year from the processing date. • The city reserves the right to add or delete service locations at any time during the term of the agreement. • The contractor must provide services during regular business hours, 8 a.m. to 5 p.m., Monday through Friday, excluding city holidays. • The contractor must schedule dates and times for providing services with the city project manager. • The contractor must perform monthly services within thirty calendar days of the last service.