Common use of PURPOSE AND DESCRIPTION Clause in Contracts

PURPOSE AND DESCRIPTION. The Contractor will provide daily armored car service for the Department's Meter Collection Unit as outlined ·in the detailed specification herein. The Contractor shall pick up bagged currency and mutilated coins. Picked up currency and mutilated coins shall be collectively known as the "consignment." The Contractor shall transport consignments to the designated locations listed herein. The Consignment will be transported to any business which safely counts/verifies and stores public money, including but not limited to a Counting House, Financial Institutions or the Federal Reserve Bank in East Rutherford, NJ. The Contractor is advised that during the three year term of this Contract, the Department's Meter Collections Unit may be relocated to another facility anywhere within the five boroughs. In such event, the Contractor shall be responsible for the continued transport of meter revenue consignments from the Department’s new location as outlined in the specification at no additional cost to the City. The Contractor shall bid the Contract based on the Bid items more particular described below. The Contractor shall furnish all necessary personnel materials including appropriate size plastic tamperproof security bags (for bills) and equipment to securely pick-up and deliver the revenue consignment to the designated destinations referenced within the Contract. The bid price for pick-up and delivery shall include all cost for personnel, material and equipment necessary to deliver the services in accordance with this Contract. The consignment shall consist of bagged United States currency in the following denominations: quarters, dimes, ▇▇▇▇▇▇▇, pennies, dollars, $5.00, $10.00, $20.00, and $50.00 bills. All currency must be segregated and bagged by denominations. The Contractor's armored vehicles must be able to pick up and carry to the designated destination as required by the Contract up to 40,000 lbs. for each daily pick-up. The Contractor must give the Department’s Meter Collections Unit 30 minute advance notification of arrival for each pick-up. The contact information for the Security Group and Loading Bay Unit will be forwarded to the Contractor at the time of the Notice to Proceed. It is essential to complete each day's pick-ups with one or two armored vehicles. If the pick-ups are being done by two armored vehicles the pick-ups must be done simultaneously. Failure to provide the notification and /or proper armored vehicle transport may result in the Contractor being assessed liquidated damages of $127.00 per day. A typical pick up may but will not necessarily consist of 175 bags of quarters, 25 bags of dollar coins, 1 bag of odd quarters, 1 bag of odd dollar coins and 1 bag of currency consisting of $5.00 bills, $10.00 bills, $20.00 bills and $50.00 bills (estimated 202 bags total). In addition, the consignment will include the Daily Pick Up receipt. The Contractor shall have an agent relationship with one of the City's Designated Banks and provide the Bank’s name at the time of bid. The Contractor, or the designated counting house, if approved, must accept deliveries Monday through Saturday. The list of approved New York City Designated ▇▇▇▇▇ can viewed at the link below: Or you can view the list in Exhibit One (1). The list of Banking Development District branch locations is excluded. The Contractor will verify the count in receipts and pass credit in full to the City's Designated Bank general fund account daily. That transaction will be communicated to the NYCDOT Meter Collections via email confirmation the same day. The cost and risk assumption for receipt verification shall be assumed by the Contractor. The Contractor shall be responsible for reimbursement of all shortages within 48 hours of notification from the Bank. Payment is to be made payable to the New York City Department of Transportation.

PURPOSE AND DESCRIPTION. The Commissioner hereby engages the Contractor to manage and operate, to the satisfaction of the Commissioner, the municipal parking garage facility (“Facility”) described in Appendix I of this Contract. The Contractor will provide daily armored car service for agrees to manage and operate the Department's Meter Collection Unit Facility as outlined ·a self-parking garage in accordance with the terms of this Contract and any applicable Laws now or hereafter adopted. The Contractor agrees that it and its employees and agents shall at all times cooperate to serve the public in the detailed specification hereinbest and safest manner. The Contractor shall pick up bagged currency and mutilated coinsbe compensated on a monthly basis for all services rendered. Picked up currency and mutilated coins This fee shall be collectively known referred to as the "consignment." “Basic Management Fee” and shall be a periodic fixed fee. The monthly fee is determined by the total Basic Management Fee divided by 36 months. In addition to the Basic Management Fee, the Contractor shall transport consignments be compensated on an annual basis if the Facility’s revenue exceeds the revenue target in accordance with Appendix V of this Contract. This fee shall be referred to as the designated locations listed herein“Incentive Fee”. The Consignment will be transported to any business which safely counts/verifies and stores public money, including but not limited to a Counting House, Financial Institutions or During the Federal Reserve Bank in East Rutherford, NJ. The Contractor is advised that during the three year term of this Contract, the Department's Meter Collections Unit Department may reconstruct or rehabilitate areas and systems within this Facility. The Contractor shall not be relocated to another facility anywhere within responsible for equipment, systems or structures that are being rehabilitated, except items of public safety which shall be secured as directed by the five boroughsCommissioner. In such eventAfter all reconstructions or rehabilitations are completed, the Contractor shall be responsible for the continued transport maintenance of meter revenue consignments from the Department’s new location as outlined in the specification at no additional cost to the Cityentire Facility. The Contractor shall bid fully examine the Contract based on Facility, its structure, the Bid items more particular described belowequipment and systems therein and the appurtenances attached thereto prior to submitting its bid. As such, the Contractor accepts the garage, its structure, the equipment and systems therein, and the appurtenances attached thereto in an “AS IS” condition. The Contractor shall furnish all necessary personnel materials including appropriate size plastic tamperproof security bags (accept responsibility for bills) the Facility, its structure, the equipment and equipment to securely pick-up and deliver the revenue consignment to the designated destinations referenced within the Contract. The bid price for pick-up and delivery shall include all cost for personnel, material and equipment necessary to deliver the services in accordance with this Contract. The consignment shall consist of bagged United States currency in the following denominations: quarters, dimes, ▇▇▇▇▇▇▇, pennies, dollars, $5.00, $10.00, $20.00systems therein, and $50.00 bills. All currency must shall be segregated required to maintain them in satisfactory operating condition and bagged by denominations. The Contractor's armored vehicles must be able make all repairs including but not limited to pick up repairs to existing guardrails, fencing and carry to the designated destination appurtenances as required by the Contract up to 40,000 lbs. for each daily pick-up. The Contractor must give the Department’s Meter Collections Unit 30 minute advance notification of arrival for each pick-up. The contact information for the Security Group and Loading Bay Unit will be forwarded to the Contractor at the time of the Notice to Proceed. It is essential to complete each day's pick-ups with one or two armored vehicles. If the pick-ups are being done by two armored vehicles the pick-ups must be done simultaneously. Failure to provide the notification and /or proper armored vehicle transport may result in the Contractor being assessed liquidated damages of $127.00 per day. A typical pick up may but will not necessarily consist of 175 bags of quarters, 25 bags of dollar coins, 1 bag of odd quarters, 1 bag of odd dollar coins and 1 bag of currency consisting of $5.00 bills, $10.00 bills, $20.00 bills and $50.00 bills (estimated 202 bags total). In addition, the consignment will include the Daily Pick Up receipt. The Contractor shall have an agent relationship with one of the City's Designated Banks and provide the Bank’s name at the time of bid. The Contractorrequired, or the designated counting house, if approved, must accept deliveries Monday through Saturday. The list of approved New York City Designated ▇▇▇▇▇ can viewed at the link below: Or you can view the list in Exhibit One (1). The list of Banking Development District branch locations is excluded. The Contractor will verify the count in receipts and pass credit in full to the City's Designated Bank general fund account daily. That transaction will be communicated to the NYCDOT Meter Collections via email confirmation the same day. The cost and risk assumption for receipt verification shall be assumed by the Contractormay become required. The Contractor shall be responsible for reimbursement employing and directing Facility employees, setting-up and carrying out work schedules; recommending operating procedures and policies; effectuating approved procedure and policy changes; responding to customer complaints and damage claims; arranging and supervising proper handling of Facility funds; supervising the preparation of required operating reports; selling parking permits; depositing on a daily basis all shortages receipts of the operation including credit card transactions as specified in Articles 4.2.13 and 4.2.14 herein; and any other services required. The Contractor, within 48 hours ninety (90) Days following the commencement of notification from the Bank. Payment is to be made payable this Contract shall provide to the New York City Department Commissioner an Operations and Procedures Manual. Failure to provide such manual shall result in the Contractor being subject to the assessment of Transportationliquidated damages of $100.00 per day. A copy of this Contract shall be kept at the Facility at all times.

PURPOSE AND DESCRIPTION. The Commissioner hereby engages the Contractor to manage and operate, to the satisfaction of the Commissioner, the Facility, as described in Appendix I of this Contract. The Contractor will provide daily armored car service for agrees to manage and operate the Department's Meter Collection Unit Facility as outlined ·a self-parking garage in accordance with the terms of this Contract and any applicable Laws now or hereafter adopted. The Contractor agrees that it and its employees, agents, and Subcontractors shall at all times cooperate to serve the public in the detailed specification hereinbest and safest manner. The Contractor shall pick up bagged currency and mutilated coinsbe compensated on a monthly basis for all services rendered. Picked up currency and mutilated coins This fee shall be collectively known referred to as the "consignment“Basic Management Fee” and shall be a periodic fixed fee. The monthly fee is determined by the total Basic Management Fee divided by 36 months. In addition to the Basic Management Fee, the Contractor shall be compensated on an annual basis if the Facility’s revenue exceeds the revenue target in accordance with Appendix V of this Contract. This fee shall be referred to as the “Incentive Fee." ” During the term of this Contract, NYCDOT may reconstruct or rehabilitate areas and systems within this Facility. The Contractor shall transport consignments to not be responsible for equipment, systems or structures that are being rehabilitated, except items of public safety which shall be secured as directed by the designated locations listed hereinCommissioner. After all reconstructions or rehabilitations are completed, the Contractor shall resume being responsible for the maintenance of the entire Facility. The Consignment will Contractor shall fully examine the Facility, its structure, the equipment and systems therein and the appurtenances attached thereto prior to submitting its Bid. As such, the Contractor accepts the Facility in an “AS IS” condition. The Contractor shall accept responsibility for the Facility, and shall be transported required to any business which safely counts/verifies maintain it in satisfactory operating condition and stores public money, make all repairs including but not limited to a Counting Houserepairs to existing guardrails, Financial Institutions or the Federal Reserve Bank in East Rutherford, NJ. The Contractor is advised that during the three year term of this Contract, the Department's Meter Collections Unit may be relocated to another facility anywhere within the five boroughs. In such event, the Contractor shall be responsible for the continued transport of meter revenue consignments from the Department’s new location as outlined in the specification at no additional cost to the City. The Contractor shall bid the Contract based on the Bid items more particular described below. The Contractor shall furnish all necessary personnel materials including appropriate size plastic tamperproof security bags (for bills) fencing and equipment to securely pick-up and deliver the revenue consignment to the designated destinations referenced within the Contract. The bid price for pick-up and delivery shall include all cost for personnel, material and equipment necessary to deliver the services in accordance with this Contract. The consignment shall consist of bagged United States currency in the following denominations: quarters, dimes, ▇▇▇▇▇▇▇, pennies, dollars, $5.00, $10.00, $20.00, and $50.00 bills. All currency must be segregated and bagged by denominations. The Contractor's armored vehicles must be able to pick up and carry to the designated destination appurtenances as required by the Contract up to 40,000 lbs. for each daily pick-up. The Contractor must give the Department’s Meter Collections Unit 30 minute advance notification of arrival for each pick-up. The contact information for the Security Group and Loading Bay Unit will be forwarded to the Contractor at the time of the Notice to Proceed. It is essential to complete each day's pick-ups with one or two armored vehicles. If the pick-ups are being done by two armored vehicles the pick-ups must be done simultaneously. Failure to provide the notification and /or proper armored vehicle transport may result in the Contractor being assessed liquidated damages of $127.00 per day. A typical pick up may but will not necessarily consist of 175 bags of quarters, 25 bags of dollar coins, 1 bag of odd quarters, 1 bag of odd dollar coins and 1 bag of currency consisting of $5.00 bills, $10.00 bills, $20.00 bills and $50.00 bills (estimated 202 bags total). In addition, the consignment will include the Daily Pick Up receipt. The Contractor shall have an agent relationship with one of the City's Designated Banks and provide the Bank’s name at the time of bid. The Contractor, or the designated counting house, if approved, must accept deliveries Monday through Saturday. The list of approved New York City Designated ▇▇▇▇▇ can viewed at the link below: Or you can view the list in Exhibit One (1). The list of Banking Development District branch locations is excluded. The Contractor will verify the count in receipts and pass credit in full to the City's Designated Bank general fund account daily. That transaction will be communicated to the NYCDOT Meter Collections via email confirmation the same day. The cost and risk assumption for receipt verification shall be assumed by the Contractorbecome required. The Contractor shall be responsible for reimbursement employing and directing Facility employees, setting-up and carrying out work schedules; recommending operating procedures and policies; effectuating approved procedure and policy changes; responding to customer complaints and damage claims; arranging and supervising proper handling of Facility funds; supervising the preparation of required operating reports; selling parking permits; depositing on a daily basis all shortages receipts of the operation including credit card transactions as specified in Articles 4.2.13 and 4.2.14 herein; and any other services required. The Contractor, within 48 hours ninety (90) Days following the commencement of notification from the Bank. Payment is to be made payable this Contract, shall provide to the New York City Department Commissioner an Operations and Procedures Manual. Failure to provide such manual shall result in the Contractor being subject to the assessment of Transportationliquidated damages of $100.00 per day. A copy of this Contract shall be kept at the Facility at all times.