Agenda item details
Review, Discussion and Consideration of Contract Award Recommendation for Global Custody Services - (ACTION - Board Only Vote)
- Office of Procurement and Contract Oversight
- Move that the Board of Trustees of the Employees Retirement System of Texas authorizes the Executive Director to negotiate and execute a contract with [RESPONDENT NAME] with terms that are fully acceptable to ERS, and to authorize the Executive Director to thereafter administer the contract agreed to by the parties. In the event that ERS is not able to timely negotiate a satisfactory contract with [RESPONDENT NAME], or if [RESPONDENT NAME] will not be capable of providing the required global custody services to ERS’ satisfaction during the contract term, then the Board authorizes the Executive Director to resume any necessary due diligence processes and contract negotiations with the next top-ranked qualified Respondent, and to negotiate and execute contract terms that are fully acceptable to ERS and thereafter administer the contract.