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Awarded contract·State of Florida Department of Management Services·Florida

Purchasing Card Program

Won by Bank of America$25MSingle Award
Contract source

Awarded vendors

  • Bank of America

Description

The State of Florida Purchasing Card Program is a contract between the State of Florida Department of Management Services and Bank of America to provide corporate purchasing card services to the State of Florida and its eligible users. The contract includes terms and conditions for the use of the purchasing cards, including payment terms, fees, and rebates. The contract also includes provisions for data security and information protection. The key aspects of the contract include: * The State of Florida and its eligible users will use the purchasing cards for business purposes only * Bank of America will provide the purchasing cards and related services, including billing and payment processing * The contract includes a rebate program, where the State of Florida and its eligible users can earn rebates based on their purchase volume * The contract includes provisions for data security and information protection, including the use of secure systems and protocols to protect sensitive information * The contract has a term of 5 years, with an option to renew Some of the key benefits of this contract include: * Convenient and efficient payment processing for the State of Florida and its eligible users * Rebates and discounts for the State of Florida and its eligible users based on their purchase volume * Enhanced data security and information protection measures to protect sensitive information * A long-term partnership between the State of Florida and Bank of America to provide corporate purchasing card services

Attached files

Key dates

Starts
7/13/2022
Ends
1/4/2026
Duration
5 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Financial Services
NAICS
522110
Solicitation №
84121500-15-01

Contract value

$25,000,000

The value of this contract is not explicitly stated, but based on the rebate program and the purchase volume of the State of Florida and its eligible users, it is likely to be in the millions of dollars. The contract includes a rebate program, where the State of Florida and its eligible users can earn rebates based on their purchase volume. The rebate program is based on the purchase volume, with higher rebates for larger purchase volumes. The contract also includes provisions for fees and charges, including annual card fees, logo fees, and international transaction fees. Based on these factors, a rough estimate of the contract value could be $10 million to $50 million per year, depending on the purchase volume and the rebates earned.

AI estimate from the award documents

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