Student Athlete Payment Processing
| Location: | Iowa |
|---|---|
| Posted: | Nov 11, 2024 |
| Due: | Dec 16, 2024 |
| Agency: | Iowa State University |
| Type of Government: | State & Local |
| Category: |
|
| Solicitation No: | RFQ-1001144 |
| Publication URL: | To access bid details, please log in. |
Bid Information
| Type | Request for Proposal (Public) |
| Status | Issued |
| Number | RFQ-1001144 (Student Athlete Payment Processing) |
| Issue Date & Time | 11/11/2024 02:00:03 PM (CT) |
| Close Date & Time | 12/16/2024 12:00:00 PM (CT) |
| Question Cut Off Date | 12/2/2024 01:30:00 PM (CT) |
| Notes |
Iowa State University (ISU) is seeking a Supplier to assist our Athletic Department with processing payments that need to be made to student-athletes under the new revenue-sharing rules established by the NCAA.
The Supplier should also be able to provide record-keeping, reporting and other features associated with the payment processing ISU would prefer a system that integrates all of these features and is easy for athletes and ISU administrators to use.
Payment parameters:
Payment processing may apply to approximately 400 athletes. Payment amounts may vary in amounts from small dollar transaction payments for reimbursements for travel per diems and reimbursable expenses to larger dollar transactions for contractually agreed to revenue-sharing payments. Transactions are likely to be processed on daily or weekly basis, with certain transactions scheduled on a monthly basis. Payments for all categories of reimbursements and revenue-sharing may amount to $20-$25 million annually
Payments will start 7/1/2025
We will only be paying in USD
All payment funding will be coming from ISU
We currently are only expecting to be paying to US Banks but may need to pay outside the US in the future.
We may be paying non-US citizen athletes
ISU will want the option to have either a mandatory or optional withholding for the athletes
(savings account for athletes to pay taxes).
Payments to be electronic in nature (ACH, digital payment card, digital wallet, etc.)
|
| Name | Mr. Cory Harms Chief Procurement Officer |
| Address |
1340 Administrative Services Building
2221 Wanda Daley Drive Ames, IA 50011-1004 USA |
| Phone | (515) 294-9562 |
| Fax | |
| clharms@iastate.edu |
| Document name | Format | |
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Bid Invitation
|
Acrobat / PDF |
| File Name | Description | File Size |
|
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|
ISU Instructions.pdf
|
Review the instructions for important information. REVISED APRIL 2022 | 174 KB |
|
ISU General Terms & Conditions.pdf
|
Review the general terms and conditions carefully and any exceptions should be listed in the "Attributes" section. REVISED MAY 2024 | 265 KB |
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