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TEXAS TECH UNIVERSITY SYSTEM
Request for Proposals
Please access TechBid for additional information and submittals:
TABLE OF CONTENTS
Page 3 Section 1 General Information
Page 5 Section 2 Proposal Requirements
Page 8 Section 3 RFP Procedures
Page 10 Section 4 Proposal Contents
Page 14 Section 5 Award and Evaluation
Page 15 Section 6 Insurance Requirements
Page 17 Section 7 General Terms and Conditions
1.1 Purpose of the Request for Proposals.
Texas Tech University System ("System") is accepting competitive proposals to contract for
Investment Consulting services. This Request for Proposal (“RFP”) provides sufficient
information for interested parties (“Proposers”) to prepare and submit proposals for
consideration by System. Additional information may be made available by written
addendum to this RFP.
Proposers are encouraged to propose contractual arrangements offering the maximum
benefit to System in terms of (1) total overall cost and (2) investment expertise.
PROPOSERS ARE CAUTIONED TO READ THE INFORMATION CONTAINED
IN THIS RFP CAREFULLY AND TO SUBMIT A COMPLETE RESPONSE TO
ALL REQUIREMENTS AND QUESTIONS AS DIRECTED.
SCOPE OF WORK
The System is soliciting proposals to provide investment consultant services to the Office of
Investments and the Investment Advisory Committee (“IAC”). The IAC is a 9-member
committee charged with advising the System Board of Regents on asset allocation and
investment policy. Services would include, but not be limited to, performance reporting,
asset allocation studies, investment manager searches, research (both markets and manager
related), and assistance in meeting the investment goals of the System.
The primary role of the investment consultant is to provide advice, consultation, and other
services, as necessary, to the Office of Investments and the IAC on all matters related to
The investment consultant will work under the direction of the Office of Investments and
the IAC, maintaining a working partnership relationship on all investment matters.
Any special projects for which the investment consultant will require additional
compensation must be approved, in advance, by the Office of Investments.
The investment consultant will, at a minimum, perform the following services:
1. Provide performance reports monthly by the end of the following month.
2. Provide performance measurement and evaluation reports in conjunction with
IAC meetings. These reports shall include, at a minimum, returns, rankings
against similar funds, risk/return analysis, and a policy index comparison.
Reconciliation with manager reported returns is expected.
3. Review asset allocation and investment policy, at least annually, and make
recommendations for revisions. As part of this, assistance with implementing
investment policy objectives for short/intermediate term fixed income investments
may be needed.
4. Investment manager searches as requested.
5. Assist with other value-added programs such as cash overlay, commission
recapture programs, and rebalancing/transition process management as requested.
6. Provide assistance in meeting the System’s investment goals.
7. Attend and present at IAC meetings, typically held in Dallas or Houston, but
occasionally in other cities in the state or during manager searches on the East &
West coasts. Meetings are held at least quarterly, but can number around 8-10 per
year; no maximum.
8. Attend and/or present at meetings of the Board of Regents and Texas Tech
Foundation as requested. Meetings are usually in Lubbock, but can be in other
cities in the state.
1.2 Information about Texas Tech University System
The System is composed of three component institutions – Texas Tech University, Texas
Tech University Health Sciences Center, and Angelo State University. These three separate
academic institutions are governed by the same nine-member Board of Regents. The
Regents are appointed by the Governor of the State of Texas to six-year terms. The
Chancellor is the chief executive officer of the System and is appointed by and reports
directly to the Board of Regents.
Texas Tech University, based in Lubbock, is one of the state’s largest major comprehensive
universities and the only such institution within an area of some 350,000 square miles. Over
28,000 students enroll annually, coming from 50 states and more than 80 foreign countries.
These students choose from among 152 undergraduate, 107 master, and 64 doctoral
Texas Tech University Health Sciences Center has an enrollment of approximately 2,200
students in its schools of medicine, nursing, allied health, pharmacy, and the graduate school
of biomedical sciences. The Lubbock campus serves as the administrative hub for the
Health Sciences Center, with regional campuses located in Amarillo, El Paso and the
Permian Basin (Odessa/Midland), and with academic centers in Dallas and Abilene.
Angelo State University, based in San Angelo, Texas, was established in 1928 as San
Angelo College; in 1965 new legislation was passed to create Angelo State College. ASU’s
campus covers more than 268 acres and enrolls more than 6,200 students from 210 of Texas
254 counties and 41 other states and 22 countries.
1.3 Texas Tech University System Investment Information
The primary investment pool related to the RFP is the Long Term Investment Fund
(“LTIF”). The LTIF is comprised primarily of System endowments, with some eligible
institutional funds also included. It is roughly $700 million in size, and currently
employs 33 managers across 44 funds. It’s operated on a total return basis, with 4.5% of
a 12-quarter rolling average being distributed for spending back to the endowments. As
of July 2008, the target range allocations to various asset classes were as follows:
Domestic Equities 15-30%
International Equities 10-30%
Fixed Income/Cash 5-15%
Real Assets (incl. real estate & energy) 5-15%
Private Equity 15-30%
Hedges/Absolute Return 15-30%
The Office of Investments is also responsible for the operating investment pool, the
Short/Intermediate Term Investment Fund (“STIF”). It’s comprised of fixed income
securities, generally Treasuries and Agencies, and currently operated on a hold-to-
maturity basis. The STIF is roughly $620 million in size, and distributes interest income
earned back to participants. It is currently internally managed, but assistance with policy
and implementation may be required of the consultant. The investment policy for both
funds is located at http://www.depts.ttu.edu/oppol/Chapter09.pdf.
1.4 Historically Underutilized Business (HUB) Firms.
The System endeavors to promote full and equal opportunity for businesses to supply the
System with Services that are necessary to support the System's educational mission. In
this regard, the System commits to select Proposers in accordance with (i) System needs,
(ii) System resources, (iii) HUB goals and guidelines established by the Texas
Legislature and the Texas Comptroller’s Office, and (iv) System policies and procedures
for contracting with Historically Underutilized Businesses.
1.5 System's Right to Reject
This RFP does not commit the System to select a Proposer or to award a Contract to any
Proposer. The System reserves the right to accept or reject, in whole or in part, any
Proposal it receives pursuant to this RFP. In addition, the System reserves the right to
cancel the RFP at any time and will notify all parties through the TechBid portal.
1.6 Schedule of Events
The System will make a good faith effort to follow the timeline below for evaluating,
negotiating and issuing an award:
RFP Distributed to Proposers July 23, 2008
Deadline for Questions August 1, 2008
Answers to Questions posted on TechBid August 6, 2008
Submittal of Proposals August 15, 2008
Evaluation of Proposals August 15-September 19, 2008
Notification of Finalists September 19, 2008
Finalists Presentations TBD
Board of Regents Approval & Award October 31, 2008
2.1 Right to Modify, Rescind, or Revoke RFP
The System reserves the rights to modify, rescind, or revoke this RFP, in whole or in
part, at any time prior to the date on which the authorized representative of the System
executes a Contract with the Selected Proposer.
2.2 Compliance with RFP Requirements
By submission of a Proposal, a Proposer agrees to be bound by the requirements set forth
in this RFP. The System, at its sole discretion, may disqualify a Proposal from
consideration, if the System determines a Proposal is non-responsive and/or non-
compliant, in whole or in part, with the requirements set forth in this RFP.
2.3 Binding Effect of Proposal
Unless otherwise agreed in writing signed by the Vice Chancellor and Chief Financial
Officer, each Proposer agrees to and shall be bound by the information and
documentation provided with the Proposal, including prices quoted for Services.
2.4 Signature, Certification of Proposer
The Proposal must be signed and dated by a representative of the Proposer who is
authorized to bind the Proposer to the terms and conditions contained in this RFP and to
compliance with the information submitted in the Proposal. Each Proposer submitting a
Proposal certifies to both (a) the completeness, veracity, and accuracy of the information
provided in the Proposal and (b) the authority of the individual whose signature appears
on the Proposal to bind the Proposer to the terms and conditions set forth in this RFP.
Proposals submitted without the required signature shall be disqualified. By submitting
an electronic Proposal via the TechBid website detailed in section 2.6, the Proposer will
qualify as having submitted a proposal with the required signature.
2.5 Submittal Deadline
The System will accept proposals until 3:00 p.m., central time, Friday, August 15, 2008
at which time all received proposals will be acknowledged publicly via the TechBid
website. Mailed Proposals will be accepted at the address listed under System Contacts
until the deadline time and date listed in this section. Electronic submittals are preferred
by the System. Any proposals received after the opening time and date, will be rejected.
The System cannot be responsible for failure of carrier service to deliver on time.
2.6 Requirements for Submission
Proposal shall be submitted electronically through the TechBid submission system. The
site is located at techbid.ttu.edu. Any supplemental printed material referenced with the
RFP, may be scanned and attached to the submission in TechBid or may be submitted in
the Office of Purchasing and Contracting on or before the time and date specified, and
Ms. Jennifer Adling
Purchasing and Contracting
Texas Tech University
361 Drane Hall
15th Street and University Avenue
Lubbock, TX 79409-1094
NOTE: For delivered/mailed submission, show the Request for Proposal title and submittal
date in the lower left-hand corner of your sealed proposal. Additional information shall be
clearly marked in order that it will be coordinated with the electronic submission.
The materials submitted by mail or delivery services must be enclosed in a sealed envelope
(box or container); the RFP title must be clearly visible; and name and the return address
and contact information of the Proposer must be clearly visible.
Late proposals properly identified will be returned to Proposer unopened. Late proposals
will not be considered under any circumstances.
All proposals that are estimated to be $100,000 or greater in value must contain a properly
completed HUB Subcontracting Plan. HSP forms can be found at the following website:
**All proposals submitted by mail or delivery service must contain a signed Proposer
Affirmation (Section 4) by a representative of the Proposer authorized to commit to the
provisions of this proposal. Proposals submitted electronically on the TechBid website will
require acknowledgement of the Proposer Affirmation.
2.7 Withdrawal or Modification
No proposal may be changed, amended, modified by telegram, fax or otherwise, after the
submittal deadline. Modifications will be allowed in the TechBid website. No proposal
may be withdrawn after the submittal deadline without approval by the System, which shall
be based on Proposers submittal, in writing, of a reason acceptable to the System.
2.8 Validity Period
Proposals are to be valid for System's acceptance for a minimum of 120 days from the
submittal deadline date to allow time for evaluation, selection, and any unforeseen delays.
Proposals, if accepted, shall remain valid for the duration of the Contract, if awarded.
2.9 Risk of Loss, Damage, Delay
Proposer acknowledges and agrees to release and hold harmless the Texas Tech
University System, its campus components, Board of Regents, officers, employees,
agents, and personnel, from and against any and all claims, liability, damages, and costs,
including court costs and attorneys' fees, arising out of or pursuant to delivery of the
Proposal or failure to deliver the Proposal to the Purchasing and Contracting Office at
Texas Tech University, as designated in Sections 2.5 and 2.6 of this RFP.
2.10 Ownership of Proposals
All Proposals become the physical property of the System upon receipt.
2.11 Use, Disclosure of Information
Proposers acknowledge that the System is an agency of the State of Texas and is,
therefore, required to comply with the Texas Public Information Act. Texas Gov't Code
Ch. 552. If a Proposal includes proprietary data, trade secrets, or information the
Proposer wishes to except from public disclosure, then the Proposer must specifically
label such data, secrets, or information as follows: "PRIVILEGED AND
CONFIDENTIAL -- PROPRIETARY INFORMATION." To the extent permitted by
Texas law, information labeled by the Proposer as proprietary will be used by the System
only for purposes related to or arising out of the (a) evaluation of Proposals, (b) selection
of a Proposer pursuant to the RFP process, and (c) negotiation and execution of a
Contract, if any, with the Proposer selected.
2.12 Costs of Participation
The System specifically disclaims responsibility and/or liability for any and all costs,
expenses, or claims related to or arising out of the Proposers participation in this RFP
process, including but not limited to costs incurred as a result of preparing, copying,
shipping, presenting, and/or clarifying the Proposal and the information relevant to the
2.13 Compliance with Applicable Laws, Regulations, Ordinances, Board of Regents
Policies, System Policies and Procedures
By submitting a Proposal, the Proposer agrees to and shall comply with all
applicable local, state and federal laws and regulations, as well as with all
applicable policies and procedures of the Texas Tech University System. Policies and
procedures may be accessed at the following Internet address: http://www.ttu.edu
3.1 Request for Electronic Copy
A Proposer may request an electronic copy of the RFP from the Techbid website
3.2 Request for Clarification
The System reserves the right to request clarification of any information contained in a
Proposal. Clarifications will be submitted in writing to the contact information listed in
3.3 Questions by Proposers
The deadline for questions submitted by Proposers is 5:00 p.m. central time on Friday,
August 1, 2008. The System will accept no questions after this date. Questions must be
submitted in writing; the question, written System response, and addenda, if any,
related to the RFP will be distributed to all Proposers on the Techbid website. If the
System determines a question has been sufficiently answered in the RFP, the inquiring
Proposer will be referred to the relevant section of the RFP. Questions may be emailed to
the Director of Purchasing and Contracting (email@example.com).
3.4 Addenda to the RFP
Each Proposer will be provided with copies of System-approved addenda, including
amendments to the RFP by posting the addendum on the TechBid website. If and as
necessary, as determined by the System, Proposers will, in turn, be allowed time to revise
or supply additional information in response to such addenda. It is the responsibility of
the proposer to check the TechBid website for any and all addenda posted for this RFP.
3.5 Communications with System Personnel
Except as provided in this RFP and as is otherwise necessary for the conduct of ongoing
System business operations, Proposers are expressly prohibited from engaging in
communications with System personnel who are involved in any manner in the review
and/or evaluation of the Proposals; selection of an Proposer; and/or negotiations or
formalization of a Contract unless it is in a formal manner as directed by the Director of
Purchasing and Contracting. If any Proposer engages in conduct or communications that
the System determines are contrary to the prohibitions set forth in this section, the System
may, at its sole discretion, disqualify the Proposer and withdraw the Proposer’s Proposal
3.6 Contract Notices
Any notice under any contract resulting from this RFP, shall be in writing and delivered
to the party to be notified either by messenger service or United States mail. Notice will
be effective upon delivery by messenger service or four (4) business days after the date of
mailing by prepaid certified mail, return receipt requested. For purposes of notice, the
name and address of the person to be notified on behalf of the System is:
Director of Purchasing and Contracting
Texas Tech University
Drane Hall, Room 361
15th and University Ave
Lubbock TX 79409-1094
Telephone: (806) 742-3841
Fax: (806) 742-3820
4.1 Proposal Contents
1. Provide a description of your firm's organization. Describe the firm’s ownership
structure and locations. Please include experience in investment consulting for
endowments/foundations. Also include breadth of firm experience with
investment consulting in general, especially in regards to other nonprofit entities.
2. Detail your organizational structure and how consulting for
endowments/foundations fits within that structure. Give numbers of employees
for the last five years in total for your firm and those devoted solely to
3. List the name, experience within this area, and qualifications of each employee
assigned to work with the System in the event of a successful proposal.
4. List your most significant current clients that are endowments/foundations.
Please also note any clients that are institutions of higher education in Texas.
5. List the firm’s current assets under advisement (AUM), and historical AUM for
the last five years. Show amounts for total consulting and for
endowment/foundations. Detail the current demographics of the firm’s client
base; average account size; retention rate, etc.
6. List all clients lost in the last three years, size of account, and reason for leaving.
7. Provide a copy of your firm’s latest audited financial statements and Form ADV,
1. Describe your firm’s overall philosophy and guiding principles in regards to
investments, capital markets, asset allocation, and risk vs. return. Also include
discussion of strategic asset allocation. Describe the approach and framework in
developing capital market assumptions and an asset allocation strategy.
2. Provide examples of the firm’s ability to evaluate a variety of asset classes,
including hedge funds, private equity, venture capital, and real estate. Describe
the firm’s process for evaluating asset classes and investment managers. Provide
a description of the firm’s methodology for classifying investment managers and
the definition of asset classes. For private equity and real estate, include methods
used for cash flow forecasting and modeling in order to achieve target allocations.
3. Give a description of the research resources available to your firm, including the
qualifications of research staff, especially in regards to alternative assets.
4. Please provide examples of investment policies that your firm has helped
implement for other endowments/foundations, preferably for public universities.
Especially include any for entities in Texas. Also note any examples dealing with
short/intermediate fixed income pools, i.e. operating fund investment pools.
5. For manager searches, describe your processes in compiling, organizing, and
assessing manager data. Include discussions of qualitative vs. quantitative data,
due diligence performed, and manager databases used. Also include your firm’s
ability to gain access to top-tier funds.
6. Describe your different investment performance universes and what entities are
included in each universe (ex. total endowments, domestic all-cap equity, etc.).
Note comparisons made with NACUBO and other higher education
7. Describe any experience working as one of a group of consultants for a single
client, including processes of coordinating and segregating duties.
1. Provide examples of performance evaluation reports, including indices used.
Include examples of monthly performance reports and quarterly performance and
2. Describe the flexibility of your firm’s reporting package(s) and the ability to
provide custom reports.
3. Provide examples of risk management reports, including different measures of
risk used and asset classes assessed.
4. Provide examples of transparency reports, especially related to hedge fund
1. Provide a fee schedule for investment consulting, including retainer-based and
fee-for service, if available.
2. Provide information on additional fees and expenses that will be required in any
1. Please provide at least three client references, preferably endowment/foundation
clients. Especially include any within the state of Texas and/or those that are
public universities. Include one reference that is no longer a client of your firm.
1. Disclose conflicts of interest (identifying each and every matter in which the firm
has, within the past calendar year, represented any entity or individual with an
interest adverse to the System or the State of Texas, or any of its boards, agencies,
2. In an effort to minimize potential conflicts of interest, please disclose any
investment management and/or brokerage services provided by your firm or its
affiliates. Disclose any fees received from and services provided for investment
3. Disclose any stop order, consent decree, censure, reprimand, or other disciplinary
action received by your firm or any member of your firm from any federal or state
regulatory agency during the last five years.
4. Affirm the firm’s willingness to comply with policies, directives and guidelines of
the System and the Attorney General of the State of Texas.
4.2 Rates for Services
Each Proposer must provide specific information about fees for all Products and
Proposers are requested to extend the pricing, and all terms and conditions offered
in their proposal to state agencies listed as institutions of higher education as
defined by Section 61.003, Education Code, Government Code Section 2155.134, as
well as other State of Texas “Certified”, public educational entities. In the event an
award is made, the individual agencies may or may not elect to use the agreement.
The remainder of this page left blank intentionally.
Additional information on the following page.
4.3 Proposer Affirmation Clauses (may be acknowledged electronically on TechBid)
Each Proposer must affirm and incorporate in its Proposal all of the Affirmations set forth
in this Section 4.3. If the System determines a Proposer has submitted a false statement
in whole or in part, in regard to any of these affirmations, then the System will disqualify
the Proposer from consideration and report the false statement as such to the Texas
Comptroller’s Office (“Comptroller”). In turn, the Comptroller can remove the Proposer
from the Centralized Master Bidders List (CMBL).
Accordingly, the Proposer affirms all of the following, without limitation:
A. The Proposer has not conferred or offered to confer, either directly or indirectly,
any benefit whatsoever on a public servant in connection with the submitted
Proposal or the subject matter of the Proposal;
B. Bidder/proposer affirms that no blood or marriage affiliation exist between
owners, officers, administrators and employees of the bidder/proposer and The
System which could be construed as a conflict of interest.
C. The Proposer either is not subject to the payment of franchise taxes to the State of
Texas or is not currently delinquent in regard to the payment of franchise tax
owed to the State of Texas.
D. The Proposer, individually or acting by and through its officers, principals,
employees, contractors, subcontractors, agents, or personnel, has neither (i)
violated state or federal antitrust laws nor (ii) communicated any of the contents
of the Proposal to its competitors or any other person or entity engaged in such
line of business;
E. The Proposer did not participate in or receive compensation for preparation of the
F. As required by section 231.006 of the Texas Family Code (relating to payment of
child support), the Proposer certifies that the individual or business entity named
in this Proposal is not ineligible to receive payments from the ensuing contract, if
any, and acknowledges that the ensuing contract can be terminated and/or
payment can be withheld if this Child Support certification is inaccurate
G. The Proposal must include the name and Social Security Number of each person
maintaining an ownership interest of 25 percent or more of the business entity
submitting the Proposal. Proposers that have pre-registered this information on
the Texas Comptroller’s Office Centralized Master Bidders' List will be deemed
to have satisfied this requirement;
H. Pursuant to section 2155.004 of the Texas Government Code (relating to the
collection of state and local sales and use taxes), the Proposer certifies that the
individual or business entity named in the Proposal is not ineligible to enter into a
resulting contract, if any. If this certification is inaccurate, then the resulting
contract can be terminated and/or payment can be withheld;
I. Proposer understands that acceptance of funds under this contract acts as
acceptance of the authority of the State Auditor's Office, or any successor agency,
to conduct an audit or investigation in connection with those funds. Proposer
further agrees to cooperate fully with the State Auditor's Office or its successor in
the conduct of the audit or investigation, including providing all records
requested. Bidder/Proposer will ensure that this clause concerning the authority
to audit funds received indirectly by subcontractors through Bidder/Proposer and
the requirement to cooperate is included in any subcontract awards;
J. The Proposer shall defend, indemnify, and hold harmless the State of Texas, all of
its officers, agents and employees from and against all claims, actions, suits,
demands, proceedings costs, damages, and liabilities, arising out of, connected
with, or resulting from any acts or omissions of the Proposer or any agent,
employee, subcontractor, or supplier of contractor in the execution or
performance of the resulting contract;
K. By signing the Proposal, the Proposer certifies that if a Texas address is shown as
the address of the proposer, the proposer qualifies as a Texas Resident Bidder, as
defined in Rule 1 Texas Administrative Code, section 111.2.;
L. The Proposer acknowledges and agrees that the dispute resolution process
provided in chapter 2260 of the Texas Government Code must be utilized by the
System and/or its campus components and the Proposer to attempt to resolve all
disputes arising under the Contract;
(SEAL: If Proposal is by a
EVALUATION, SELECTION, AWARD
5.1 Type of Contract
The successful Proposer will be required to enter into a contract. The Proposer may submit
its standard form contract for review by the System. The System is subject to the laws of
the State of Texas including the Dispute Resolution Procedure set out in Texas Government
Code 2260. The System will not be bound to another state’s laws in any resulting contract.
5.2 Public Information
The System considers all information, documentation and other materials requested to be
submitted in response to this solicitation to be of a non-confidential and non-proprietary
nature and therefore shall be subject to public disclosure under the Texas Public Information
Act (Texas Government Code, Chapter 552.002, et seq.) after a contract is awarded.
Proposers are hereby notified that System strictly adheres to all statutes, court decisions, and
opinions of the Texas Attorney General with respect to disclosure of RFP information.
5.3 Contract Award Process
An award for the services specified herein will be made following a procedure using
competitive sealed proposals. Proposals will be acknowledged publicly to identify the
names of the Proposers, but will be afforded security sufficient to preclude disclosure of the
contents of the proposal, including prices or other information, prior to award. After
opening, an award may be made on the basis of the proposals initially submitted, without
discussion, clarification or modification, or on the basis of negotiation with any of the
Proposers or, at System's sole option and discretion, System may discuss or negotiate all
elements of the proposal with selected Proposers which represent a competitive range of
proposals. For purposes of negotiation, a competitive range of acceptable or potentially
acceptable proposals may be established comprising the highest rated proposal(s). After the
submission of a proposal but before making an award, System may permit the offeror to
revise the proposal in order to obtain the best final offer. System may not disclose any
information derived from the proposals submitted from competing offers in conducting such
discussions. System will provide each offeror with an equal opportunity for discussion and
revision of proposals. Further action on proposals not included in the competitive range will
be deferred pending an award, but System reserves the right to include additional proposals
in the competitive range if deemed in the best interest of System. System reserves the right
to award a Contract for all or any portion of the requirements proposed by reason of this
request, award multiple Contracts, or to reject any and all proposals if deemed to be in the
best interests of System and to re-solicit for proposals, or temporarily or permanently
abandon the procurement. If the System awards a contract, it will award the contract to the
offeror whose proposal is the most advantageous to System, considering price and the
evaluation factors set forth in this RFP.
5.4 Evaluation of Proposals
System personnel will evaluate proposals. Submission of a Proposal indicates the
Proposer’s acceptance of the evaluation process set forth in this RFP and the Proposers
acknowledgement that subjective judgments must be made by the System in regard to the
evaluation process. The System will name finalists with regard to the selection and have
those finalists present to the IAC before contract award. Award will be made based on
evaluation of proposals and quality of presentations.
5.5 Criteria for Evaluation
The evaluation will include the overall response to the RFP and the general requirements
defined in the RFP. The System will evaluate and name the finalists on the proposals that
are determined to be the best values to the State based on the criteria listed below.
All proposals must be complete and convey all of the information requested to be
considered responsive. If the proposal fails to conform to the essential requirements of
the RFP, the System alone will determine whether the variance is significant enough to
consider the proposal susceptible to being made acceptable and therefore a candidate for
further consideration, or not susceptible to being made acceptable and therefore not
considered for award.
The following weights have been assigned for the evaluation process:
Demonstrated competence & qualifications 65%
Fee Structure 10%
5.6 Consideration of Additional Information
The System reserves the right to ask for and consider any additional information
deemed beneficial to the System in evaluation of the Proposals.
6.1 The Proposer agrees to furnish insurance certificate reflecting the following
Type of Coverage Limits of Liability
Worker's Compensation Statutory
Employer's Liability $50,000/$50,000/$250,000
Comprehensive General Liability
a. Bodily Injury $250,000 each occurrence
b. Property Damage $50,000 each occurrence
Comprehensive Automobile Liability (if any vehicle is brought onto the System campus):
a. Bodily Injury $150,000 each person
b. Property Damage $150,000 each occurrence
6.2 Effect of Indemnification Obligations
No provision, term, or condition in the Contract regarding indemnification obligations
shall be construed to limit the application of insurance procured by the Proposer in
accordance with requirements set forth in the Contract.
6.3 Additional Named Insured, Subrogation
With the exception of the Workers' Compensation policy, the System shall be an
additional-named insured on all policies, and subrogation against the System must
6.4 Certificates of Coverage
At least thirty (30) days prior to the effective date of the contract and at least thirty (30)
days prior to the commencement of any renewal term of the contract, the Proposer shall
furnish the Purchasing and Contracting Office with certificates of insurance in a form
acceptable to the System’s Risk Manager, certifying that the Proposer carries the
required insurance polices and coverage. The certificates shall be sent to the Purchasing
and Contracting Office, at the address or fax number listed previously in the RFP.
6.5 Notification of Cancellation
Each insurance policy shall contain a covenant by the insurance company issuing the
policy that the policy will not be modified or canceled unless thirty (30)-days' prior
written notice of modification or cancellation is given to the System's Purchasing and
Contracting Office. In the event the Proposer receives notice of modification or
cancellation of any of the policies required under the contract, then, prior to the effective
date of modification or cancellation of the policy, the Proposer shall obtain a policy of
insurance affording the required coverage from an insurance carrier acceptable to the
System's Risk Manager. If the Proposer fails to obtain such an insurance policy, the
System may immediately terminate the Contract without further notice to the
GENERAL TERMS AND CONDITIONS
7.1 Initial Term; Renewal Terms
The initial term for this agreement will be three (3) years. This agreement may be
extended for three (3) additional one (1)-year periods upon mutual agreement of both
parties with provisions remaining the same following completion of original contract.
The Contract may be sooner terminated on the first to occur of the following:
A. Termination without Cause:
In the event either the System or the Proposer shall, with or without cause, at any time
give to the other at least 30 days’ advance written notice, the Contract shall terminate
on the future date specified in such notice.
C. Mutual Agreement:
In the event the System or the Proposer mutually agree in writing, the contract may be
terminated on the terms and date stipulated in the writing.
D. Termination by Default:
In the event either party shall give notice to the other that the other party has
substantially defaulted in the performance of any obligation under the contract, and the
default has not been cured within 10 business days following the receipt of such notice
by the party alleged to be in default, the party giving notice shall have the right to
terminate the contract immediately, upon the close of System business, or at 5p.m.,
Central Time on the 10th business day after notice was received. In the case of this
contract, default shall also include loss by the Proposer of any required licenses or any
investigation into fraud in the performance of their line of work.
E. Termination for Insolvency, Bankruptcy, Assignment to Creditors:
The System may, without further notice, terminate this agreement immediately if the
Proposer (i) petitions for reorganization under the Bankruptcy Code or is adjudged
bankrupt; (ii) becomes insolvent or a receiver is appointed due to the insolvency; or (iii)
makes a general assignments or sale of its assets or business for the benefit of creditors.
F. Funding Out:
The System shall have the right to cancel this contract at the end of the then current
fiscal period if funds are not allotted for the next fiscal year to continue this contract.
The System may effect such cancellation by giving the Proposer written notice of its
intention to cancel not less than thirty (30) days prior to the end of the then current
fiscal period, stating its reasons for cancellation. Upon cancellation of this contract as
provided in this section 7.2.E, the System shall not be responsible for the payment of
any services received which occur after the end of the current contract period.
7.3 Requirements for Recordkeeping
The Proposer shall maintain records generated pursuant to services rendered in accordance
with the contract for a period of at least four (4) years after submission of the last
accounting report date on which services were rendered, or until final resolution of any
proceedings arising out of the contract, whichever date is later in time.
7.4 Right to Inspect
The System retains the right to examine, inspect, audit, and copy, regardless of location,
any and all documents, records, files, data, and information generated or utilized by the
Proposer in the performance of the contract.
7.5 Definition of Terms
The term "contract" shall mean the written agreement, if any, executed by the authorized
representatives of the System and the Selected Proposer(s) that formalizes the terms,
provisions, covenants, and obligations, including but not limited to those contained in this
RFP, of the respective parties to the arrangement for provision of services.
The term "System Liaison" shall be defined as the Section Supervisor of Purchasing and
Contracting for purposes of this RFP. In the contract, the “System Liaison” shall be
The term "Proposers Personnel" shall mean and include any and/or all of the following,
without limitation: employees, leased employees, agents, officers, directors, staff,
independent contractors, contractors, or subcontractors, or any individuals furnished,
referred, or provided by the Proposer for purposes arising out of or related to this RFP,
the Proposer's Proposal, and the contract, if any, that results from the award made by the
System to the Selected Proposer.
Fiscal Year/Academic Year
A fiscal year begins on September 1 and ends on August 31. An academic year starts
with the first day of fall classes and ends with the last day of spring or summer semester
Sex Offender Registration
All sex offenders required to register with local law enforcement authorities under
chapter 62 of the Texas Code Of Criminal Procedure and who intend to work or carry on
a vocation (full-time or part-time) on any campus of Texas Tech University System for a
consecutive period exceeding fourteen (14) days or for an aggregate period exceeding
thirty (30) days in a calendar year are required to register (or verify registration) with the
law enforcement authority for campus security in accordance with article 62.064 of the
Texas Code Of Criminal Procedure within 7 days of beginning work on any campus of
Texas Tech University System. In addition, such sex offenders are required to notify the
law enforcement authority for campus security within seven (7) days of terminating work
on any campus of Texas Tech University System. For additional information, please
contact the Texas Tech University Police Department, 2901 4th St., Lubbock, Tx 79409,