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  5. ›LOCKBOX SERVICES

Awarded contract·City of Palm Bay·Florida

LOCKBOX SERVICES

$8MSingle Award
Contract source

Description

The City of Palm Bay, Florida is seeking proposals for a Lockbox Service Provider to process customer payments for the Utilities Department. The lockbox services will be utilized for billing 33,745 water and sewer customers on a monthly basis, as well as for quarterly bills for sanitation and storm water utility services. The City aims to obtain standard terms and price guarantees for a fixed period, allow providers located within the State of Florida to provide services, and ensure accurate and timely processing of customer payments. The key aspects of this contract include the provision of lockbox services, payment processing, and customer service. • The contract is for lockbox services for the Utilities Department. • The services will be used for billing water and sewer customers, as well as for sanitation and storm water utility services. • The City aims to obtain standard terms and price guarantees for a fixed period. • The contract is open to providers located within the State of Florida. • The City requires accurate and timely processing of customer payments.

Attached files

Key dates

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Financial Services
NAICS
522320
Solicitation №
67-0-2015

Contract value

$8,000,000

The contract value is not explicitly stated in the provided text. However, considering the scope of work, which includes processing payments for 33,745 water and sewer customers on a monthly basis, as well as for 41,200 accounts that do not have water and sewer service through the City, the contract value could be substantial. Assuming an average payment amount of $100 per customer per month, the total monthly payment amount would be approximately $3.4 million. With a contract duration of possibly 1-3 years, the total contract value could range from $40 million to $120 million. However, this is a rough estimate and the actual contract value may be higher or lower, depending on various factors such as the payment processing fees, service charges, and other costs.

AI estimate from the award documents

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