Number of Unsuccessful, Responsive Respondents:
Vendor: The Northern Trust Company, Chicago, IL
Amount: An estimated $550,000
An estimated start date of 1/21/2011 through 6/30/2014
Potential Future Renewals:
Due to a mistake, the award notification for RFP 1THN825 was not posted to the Illinois Public Higher Education Procurement Bulletin in 2008. The solicitation was processed and awarded, absent the Bulletin posting, within normal processing procedures during 2007-2008. The initial contract was executed with six months of the first contract period remaining and included the first renewal period, with no Bulletin postings or approvals by the Procurement Policy Board. The initial RFP posting also included a second and final renewal period of July 1, 2014 - June 30, 2017. The solicitation was conducted in a fair and competitive manner and the contract that ultimately was executed complied with the intent of the RFP. The University requested that the Chief Procurement Officer (CPO) ratify the initial contract, which included an initial term of the contract term from January 21, 2011 - June 30, 2014, and an option to renew for the term of July 1, 2014 - June 30, 2017. Rather than eliminate the renewal option, the CPO ratified the initial contract on the condition that the duration of the renewal option period be reduced to two years (July 1, 2014 - June 30, 2016) because that much time would be necessary to allow the University adequate time for the development and processing of a new RFP to procure master trust and custodial services and for transition to a new custodian.
For additional information, contact:
212 Illini Plaza, MC-602
1817 S. Neil Street
Champaign, IL 61820
Phone: (217) 333-3505
Fax: (217) 239-6869
The buyer for this procurement is now Danny Lienard, (217) 333-0777.
The State Purchasing Officer for this procurement is now Stephen Rotello.
The University award process may be delayed up to thirty days as this award goes through a state approval process.