Trust or Custody Services. Contractor shall:
Trust or Custody Services. Contractor shall: Open and maintain a trust or custody account(s) in the name of each Plans and hold in such account all cash, securities, and certificates of ownership initially deposited plus any additional cash, securities, and certificates of ownership that may be received from time to time for the account(s). Keep accurate books and records detailing all investments, receipts (including all investment income), expenses, disbursements, and other transactions relating to the account(s). Maintain records of all transactions, including all historical cost basis information, and provide reports required under this Contract and the applicable trust or custodian contracts based on those records. Such reports shall include all information necessary for the preparation of any applicable government or other required filings. Conduct all necessary transactions, including the buying and selling of securities and making deposits and withdrawals from investment accounts upon the instructions of authorized parties. As necessary, establish daily trade interfaces with all investment managers and funds and the record keeper. Conduct all necessary activities to register all securities and shareholder accounts and vote all proxies and tender offers received in accordance with the applicable trust/custody agreement. Accrue and pay all authorized Plan expenses in accordance with the applicable Plan document and trust/custody agreement. Provide the County a monthly statement of account of the inventory of all the assets in each account, all activity during the previous month, and the market value of all the assets in the account. Also provide such other reports as the County may reasonably request, including reports to the County Auditor-Controller or its authorized agents. Also provide a monthly summary of transactions, including the payment of benefits and expenses from the Plans.
