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 |
Bid Documents
| Document name | Format | |
|
||
|
Bid Invitation
|
Acrobat / PDF |
Bid Attachments
| File Name | Description | File Size |
|
||
|
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 |
Attachment Preview
RFQ-1001144
Student Athlete Payment Processing
Issue Date: 11/11/2024
Questions Deadline: 12/2/2024 01:30 PM (CT)
Response Deadline: 12/16/2024 12:00 PM (CT)
Contact Information
Contact: Mr. Cory Harms Chief Procurement Officer
Address: 1340 Administrative Services Building
2221 Wanda Daley Drive
Ames, IA 50011-1004
Phone: (515) 294-9562
Email: clharms@iastate.edu
Page 1 of 8 pages
Deadline: 12/16/2024 12:00 PM (CT)
RFQ-1001144
Event Information
Number:
RFQ-1001144
Title:
Student Athlete Payment Processing
Type:
Request for Proposal (Public)
Issue Date:
11/11/2024
Question Deadline: 12/2/2024 01:30 PM (CT)
Response Deadline: 12/16/2024 12:00 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
Page 2 of 8 pages
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.)
Deadline: 12/16/2024 12:00 PM (CT)
RFQ-1001144
Bid Attachments
ISU Instructions.pdf
Download
Review the instructions for important information. REVISED APRIL 2022
ISU General Terms & Conditions.pdf
Download
Review the general terms and conditions carefully and any exceptions should be listed in the "Attributes" section.
REVISED MAY 2024
Requested Attachments
Payment Options
(Attachment required)
Please provide the types of payment methods you offer and the detail about how they work
Proposed System/Software
(Attachment required)
Provide a summary of how the system operates both administratively and for the athlete. Provide screenshots when
needed.
Reporting Functions
(Attachment required)
Please describe the reporting functions that are available
Other System Functionality
(Attachment required)
Please provide other functionality that your system may provide for the University and the athlete (e.g. tracking of any
contract requirements like social media posts, event appearances).
Demonstrated Experience
(Attachment required)
Please describe your experience providing this type of system/service to University athletic departments
System Cost
(Attachment required)
Please provide detail on the cost of the payment processing system including annual costs and any per payment
costs. Your proposal must include ALL costs associated with the processing of payments.
Bid Attributes
1 Company Overview
Provide a brief company profile including date of incorporation, business composition (proprietorship,
partnership or incorporation), the state under which your business is organized, and any other
pertinent information that can be used to evaluate the proposal.
(Required: Maximum 1000 characters allowed)
Page 3 of 8 pages
Deadline: 12/16/2024 12:00 PM (CT)
RFQ-1001144
2 1099/1042S reporting
Do you provide 1099 and 1042S reporting as part of your service?
Yes No
(Required: Check only one)
3 Athlete Withholding (tax savings account)
Do you have the ability to provide a mandatory or optional withholding account for each athlete for them to sue for
any income taxes? Provide any detail to explain the process.
(Required: Maximum 1000 characters allowed)
4 Non-US Bank Payments
Can you pay to non-US banks
Yes No
(Required: Check only one)
5 Exceptions to General Terms and Conditions
Do you have any exceptions to the General Terms and Conditions (under Attachments tab)? If YES, please list
exceptions below.
Yes No
(Required: Check only one)
6 Exception to General Terms and Conditions - 1
Include page number, section and reason for exception.
Note: Exceptions taken may cause the Proposal to be rejected at the sole discretion of University. Any terms to
which Contractor does not take exception shall be binding and any subsequent objections to those terms shall have
no effect.
(Optional: Maximum 1000 characters allowed)
7 Exception to General Terms and Conditions - 2
Include page number, section and reason for exception.
Note: Exceptions taken may cause the Proposal to be rejected at the sole discretion of University. Any terms to
which Contractor does not take exception shall be binding and any subsequent objections to those terms shall have
no effect.
(Optional: Maximum 1000 characters allowed)
Page 4 of 8 pages
Deadline: 12/16/2024 12:00 PM (CT)
RFQ-1001144
8 Exception to General Terms and Conditions - 3
Include page number, section and reason for exception.
Note: Exceptions taken may cause the Proposal to be rejected at the sole discretion of University. Any terms to
which Contractor does not take exception shall be binding and any subsequent objections to those terms shall have
no effect.
(Optional: Maximum 1000 characters allowed)
9 Evaluation Criteria
The evaluation of this RFP/RFQ may be based upon, but not limited to:
Experience in the services requested
Administrative functions of the system
Ease of use for administrative users
Ease of use for Student Athletes
System/support costs
Payment types offered
References
Demonstrations (with finalists)
Read and understood
(Required: Check if applicable)
1 Reference #1 Name and Company
0 Note: It is strongly recommended that you provide references. If you do not provide references in your bid
response, you may not be given an opportunity to provide them later in the bid process and you may be scored 0
points with respect to this evaluation criteria.
(Required: Maximum 1000 characters allowed)
1 Reference #1 Phone
1
(__ __ __) __ __ __ - __ __ __ __ ext:
(Required)
1 Reference #1 Email
2
(Required: Email address)
1 Reference #2 Name and Company
3 Note: It is strongly recommended that you provide references. If you do not provide references in your bid
response, you may not be given an opportunity to provide them later in the bid process and you may be scored 0
points with respect to this evaluation criteria.
(Required: Maximum 1000 characters allowed)
Page 5 of 8 pages
Deadline: 12/16/2024 12:00 PM (CT)
RFQ-1001144
This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.
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