Administrative Regulation Title: Purchasing Banking Services
Regulation Number: 6.0.2
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The Business Office will accept bids for purchasing banking services at any time deemed necessary. This is to provide the college with the best possible checking accounts at the lowest service charge and/or the highest earned interest. The bidding process will be conducted in the Business Office.
- Costs and interest rates will be quoted on an annual basis.
- A complete description of services desired for each account will be provided.
- The college reserves the right to reject or refuse any bid that is so deemed inappropriate or inadequate. The Board of Trustees also reserves the right to reject any and all proposals and to waive information and irregularities in proposals received.
- A complete summary of each account will be provided with each bid to all banks in the City of Torrington.
Original Adoption Date: 10/13/98
Revision Date(s): 11/8/05(RF), 10/9/07, 07/09/13, 2/11/14
Date reviewed, no change: 1/14/20