Awarded vendors
- KeyBank
Description
This contract awards KeyBank N.A. a two‑year banking and trust‑service agreement to support the Alaska Industrial Development and Export Authority and the Alaska Energy Authority. The scope includes the provision of five collateralized checking accounts, investment‑custody services for dozens of trust sub‑accounts, daily transaction reporting, electronic file feeds, and transition support from the incumbent provider. The agreement carries a base period of September 2018 through August 2020, with three additional two‑year renewal options extending the maximum term to August 2026. Pricing is based on a detailed cost worksheet that requires unit‑price estimates for banking and custodial services, and the contract value is expected to be at least $1 million. The procurement was open to competition, required an Alaska business‑license, and awarded the contract to KeyBank as the sole bidder.
• Provides both banking (checking, ACH, wire, check clearing) and investment‑custody services for public‑sector funds.
• Requires extensive reporting in hard‑copy and electronic formats, including daily activity summaries and monthly trust statements.
• Includes optional extensions, giving the Authority flexibility to continue the relationship for up to eight years total.