Inactive

The U.S. International Development Finance Corporation (DFC) intends to award a sole source firm-fixed-price purchase order to U.S. Bank National Association (“U.S. Bank”) for custody account services... The U.S. International Development Finance Corporation (DFC) intends to award a sole source firm-fixed-price purchase order to U.S. Bank National Association (“U.S. Bank”) for custody account services. DFC will purchase up to $20 million of Euroclear bonds as part of a contemplated transaction. To hold these bonds, DFC requires a custodian. DFC cannot hold these bonds directly because it does not and cannot have an account with Euroclear. In 2022, DFC conducted an extensive search for a bank that could serve as a custodian for DFC for a different transaction. DFC reached out to Citibank NY, Citibank London, Bank of New York, Deutsche Bank, MUFG, U.S. Bank, and Bank of America. Only U.S. Bank was willing and able to move forward with DFC. U.S. Bank has served as a top provider of custodian, escrow, paying and disbursement agent services for over 40 years. U.S. Bank is also DFC’s largest and best COPs Paying Agents with about a 70% market share of DFC paying agencies. U.S. Bank is responsible for hundreds of COP’s deals under their administration. Based on the market research conducted in 2022, U.S. Bank is the only bank that is able to provide custodian services that can meet the requirement without delaying DFC on this transaction. This contract action is for supplies or services for which the government intends to solicit and negotiate with only one source under the authority of FAR 13.106-1(b). Interested persons may identify their interest and capability to respond to the requirement or submit proposals. This notice of intent is not a request for competitive quotations; however, all quotations/responses received by Tuesday, May 28, 2024, at 4:30pm Eastern time (ET) will be considered by the government. A determination by the government not to compete this proposed contract based upon responses to this notice is solely within the discretion of the government. Information received will normally be considered solely for the purpose of determining whether to conduct a competitive procurement. Any quotation/response should be emailed to the Contracting Officer, Joshua Houston, at joshua.houston@dfc.gov by Tuesday, May 28, 2024, at 4:30pm ET.