Lockbox Services

Background
The Office of the State Treasurer (OST) of Washington is seeking proposals from qualified vendors to provide wholesale (manual) and retail (automated) lockbox services, along with specified remittance processing for various state agencies. This initiative aims to enhance cash management and streamline payment processing across multiple agencies, which currently utilize these services for varying complexities and requirements.

Work Details
The selected vendor will be responsible for:

1. Providing wholesale and retail lockbox services, ensuring timely receipt of payments at designated locations.

2. Reconciling payments with accompanying documents.

3. Electronically transferring data as required by participating agencies.

4. Promptly depositing payments into the Washington State Treasurer’s accounts.

The contract will also include establishing and servicing Post Office Boxes within Washington, ensuring same-day processing of all mail, and providing a comprehensive fee schedule based on total volume discounts for state agencies.

Period of Performance
The initial term of the contract will commence upon execution of the Statewide Agreement on September 1, 2025, and will end on August 31, 2029. The state reserves the right to extend the agreement for up to three additional years, through August 31, 2032.

Place of Performance
The services will be performed within the state of Washington, specifically at locations where Post Office Boxes are established and where payment processing occurs.

Bidder Requirements
Bidders must meet specific qualifications including:

- Ability to establish and service Post Office Boxes in Washington.
- Capability to begin processing work within the same calendar day.
- Ability to deposit directly into the state's concentration account or use a qualified public depositary.
- Willingness to sign Data Sharing Agreements with OST and participating agencies.
- Compliance with all applicable laws regarding wage theft prevention.