HomeMy WebLinkAboutAGMT - GovDeals, Inc. (Auction Services) AUCTION SERVICES AGREEMENT
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City of Seal Beach
211 - 8th Street
Seal Beach, CA 90740
GovDeals, Inc.
5907 Carmichael Place
Montgomery, Alabama 36117
(866) 377-1494
This Professional Service Agreement ("the Agreement") is made as of January 28, 2013
(the "Effective Date"), by and between GovDeals, Inc. ("Consultant"), a Delaware
corporation, and the City of Seal Beach ("City"), a California charter city, (collectively,
"the Parties").
S7296-0001\1522723v2 doc
RECITALS
A. City desires online auction services.
B. Consultant represents that it is qualified and able to provide City with such
services.
NOW THEREFORE, in consideration of the Parties' performance of the
promises, covenants, and conditions stated herein, the Parties hereto agree as follows:
AGREEMENT
1. Scope of Services
1.1 Consultant shall provide those services ("Services") set forth in the
attached Exhibit A, which is hereby incorporated by this reference. To the extent that
there is any conflict between Exhibit A and this Agreement, this Agreement shall control.
1.2 Consultant shall perform all Services under this Agreement in accordance
with the standard of care generally exercised by like professionals under similar
circumstances and in a manner reasonably satisfactory to City.
1.3 In performing this Agreement, Consultant shall comply with all applicable
provisions of federal, state, and local law.
1.4 Consultant will not be compensated for any work performed not specified
in Exhibit A unless the City authorizes such work in advance and in writing. The City
Manager may authorize payment for such work up to a cumulative maximum of
$10,000. Payment for additional work in excess of $10,000 requires prior City Council
authorization.
2. Term of Agreement
This term of this Agreement shall commence as of the Effective Date and shall
continue for a term of 3 years unless previously terminated as provided by this
Agreement. The City shall have the option to extend this Agreement for up to 2
additional 2-year terms, provided City gives Consultant notice of its decision to exercise
its option at least 30 days prior to the end of the then current term.
3. Terms and Conditions
City shall provide to Consultant its City Terms and Conditions that Consultant
shall post on the GovDeals auction site ("Website") set forth in the attached Exhibit B.
At any time during the term of this Agreement, City may modify the City Terms and
Conditions. Any substitutions or modifications must be submitted to Consultant in
writing before posting assets to the Website.
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S7296-0001\1522723v2.doc
4. Consultant's Compensation
Consultant may collect a 12.50% Buyer's Premium as set forth in Financial
Settlement Services ("FSS"), included as Exhibit C to this Agreement.
5. Method of Payment
Consultant will collect and remit all proceeds on City's behalf as set forth in the
FSS in Exhibit C.
6. Termination
6.1 This Agreement may be terminated by City, without cause, or by
Consultant based on reasonable cause, upon giving the other party written notice
thereof not less than 30 days prior to the date of termination.
6.2 This Agreement may be terminated by City upon 10 days' notice to
Consultant if Consultant fails to provide satisfactory evidence of renewal or replacement
of comprehensive general liability insurance as required by this Agreement at least 20
days before the expiration date of the previous policy.
7. Party Representatives
7.1 The City Manager is the City's representative for purposes of this
Agreement.
7.2 Robert L. DeBardelaben is the Consultant's primary representative for
purposes of this Agreement.
8. Notices
8.1 All notices permitted or required under this Agreement shall be deemed
made when personally delivered or when mailed 48 hours after deposit in the United
States Mail, first class postage prepaid and addressed to the party at the following
addresses:
To City: City of Seal Beach
211-8th Street
Seal Beach, California 90740
Attn: City Manager
To Consultant: GovDeals, Inc.
16305 Pacific Coast Highway
Seal Beach, California 90740
Attn: Robert L. DeBardelaben
8.2 Actual notice shall be deemed adequate notice on the date actual notice
occurred, regardless of the method of service.
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9. Independent Contractor
9.1 Consultant is an independent contractor and not an employee of the City.
All services provided pursuant to this Agreement shall be performed by Consultant or
under its supervision. Consultant will determine the means, methods, and details of
performing the services. Any additional personnel performing services under this
Agreement on behalf of Consultant shall also not be employees of City and shall at all
times be under Consultant's exclusive direction and control. Consultant shall pay all
wages, salaries, and other amounts due such personnel in connection with their
performance of services under this Agreement and as required by law. Consultant shall
be responsible for all reports and obligations respecting such additional personnel,
including, but not limited to: social security taxes, income tax withholding,
unemployment insurance, disability insurance, and workers' compensation insurance.
9.2 Consultant shall indemnify and hold harmless City and its elected officials,
officers, employees, servants, designated volunteers, and agents serving as
independent contractors in the role of City officials, from any and all liability, damages,
claims, costs and expenses of any nature to the extent arising from Consultant's
personnel practices. City shall have the right to offset against the amount of any fees
due to Consultant under this Agreement any amount due to City from Consultant as a
result of Consultant's failure to promptly pay to City any reimbursement or
indemnification arising under this Section.
10. Subcontractors
No portion of this Agreement shall be subcontracted without the prior written
approval of the City. Consultant is fully responsible to City for the performance of any
and all subcontractors.
11. Assignment
Consultant shall not assign or transfer any interest in this Agreement whether by
assignment or novation, without the prior written consent of City. Any purported
assignment without such consent shall be void and without effect.
12. Insurance
12.1 Consultant shall not commence work under this Agreement until it has
provided evidence satisfactory to the City that Consultant has secured all insurance
required under this Section. Consultant shall furnish City with original certificates of
insurance and endorsements effecting coverage required by this Agreement on forms
satisfactory to the City. The certificates and endorsements for each insurance policy
shall be signed by a person authorized by that insurer to bind coverage on its behalf,
and shall be on forms provided by the City if requested. All certificates and
endorsements shall be received and approved by the City before work commences.
The City reserves the right to require complete, certified copies of all required insurance
policies, at any time.
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12.2 Consultant shall, at its expense, procure and maintain for the duration of
the Agreement, insurance against claims for injuries to persons or damages to property
that may arise from or in connection with the performance of this Agreement. Insurance
is to be placed with insurers with a current A.M. Best's rating no less than A:VIII,
licensed to do business in California, and satisfactory to the City. Coverage shall be at
least as broad as the latest version of the following: (1) General Liability: Insurance
Services Office Commercial General Liability coverage (occurrence form CG 0001); (2)
Automobile Liability: Insurance Services Office Business Auto Coverage form number
CA 0001, code 1 (any auto); and, if required by the City, (3) Professional Liability.
Consultant shall maintain limits no less than: (1) General Liability: $2,000,000 per
occurrence for bodily injury, personal injury and property damage and if Commercial
General Liability Insurance or other form with a general aggregate limit is used, either
the general aggregate limit shall apply separately to this Agreement/location or the
general aggregate limit shall be twice the required occurrence limit; (2) Automobile
Liability: $1,000,000 per accident for bodily injury and property damage; and (3)
Professional Liability: $1,000,000 per claim/aggregate.
12.3 The insurance policies shall contain the following provisions, or Consultant
shall provide endorsements on forms supplied or approved by the City to state: (1)
coverage shall not be suspended, voided, reduced or canceled except after 30 days
prior written notice by certified mail, return receipt requested, has been given to the City;
(2) any failure to comply with reporting or other provisions of the policies, including
breaches of warranties, shall not affect coverage provided to the City, its directors,
officials, officers, (3) coverage shall be primary insurance as respects the City, its
directors, officials, officers, employees, agents and volunteers, or if excess, shall stand
in an unbroken chain of coverage excess of the Consultant's scheduled underlying
coverage and that any insurance or self-insurance maintained by the City, its directors,
officials, officers, employees, agents and volunteers shall be excess of the Consultant's
insurance and shall not be called upon to contribute with it; (4) for general liability
insurance, that the City, its directors, officials, officers, employees, agents and
volunteers shall be covered as additional insureds with respect to the services or
operations performed by or on behalf of the Consultant, including materials, parts or
equipment furnished in connection with such work; and (5) for automobile liability, that
the City, its directors, officials, officers, employees, agents and volunteers shall be
covered as additional insureds with respect to the ownership, operation, maintenance,
use, loading or unloading of any auto owned, leased, hired or borrowed by the
Consultant or for which the Consultant is responsible.
12.4 All insurance required by this Section shall contain standard separation of
insureds provisions and shall not contain any special limitations on the scope of
protection afforded to the City, its directors, officials, officers, employees, agents, and
volunteers.
12.5 Any deductibles or self-insured retentions shall be declared to and
approved by the City. Consultant guarantees that, at the option of the City, either: (1)
the insurer shall reduce or eliminate such deductibles or self-insured retentions as
respects the City, its directors, officials, officers, employees, agents, and volunteers; or
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(2) the Consultant shall procure a bond guaranteeing payment of losses and related
investigation costs, claims and administrative and defense expenses.
13. Indemnification, Hold Harmless, and Duty to Defend
Consultant shall defend, indemnify, and hold the City, its officials, officers,
employees, volunteers and agents serving as independent contractors in the role of city
officials (collectively "Indemnitees") free and harmless from any and all claims,
demands, causes of action, costs, expenses, liability, loss, damage or injury, in law or
equity, to property or persons, including wrongful death, in any manner arising out of or
incident to any acts or omissions of Consultant, its employees, or its agents in
connection with the performance of this Agreement, including without limitation the
payment of all consequential damages and attorneys' fees and other related costs and
expenses, except for such loss or damage arising from the sole negligence or willful
misconduct of the City. With respect to any and all such aforesaid suits, actions, or
other legal proceedings of every kind that may be brought or instituted against
Indemnitees, Consultant shall defend Indemnitees, at Consultant's own cost, expense,
and risk, and shall pay and satisfy any judgment, award, or decree that may be
rendered against Indemnitees. Consultant shall reimburse City and its directors,
officials, officers, employees, agents and/or volunteers, for any and all legal expenses
and costs incurred by each of them in connection therewith or in enforcing the indemnity
herein provided. Consultant's obligation to indemnify shall not be restricted to insurance
proceeds, if any, received by Consultant, the City, its directors, officials, officers,
employees, agents or volunteers. All duties of Consultant under this Section shall
survive termination of this Agreement.
14. Equal Opportunity
Consultant affirmatively represents that it is an equal opportunity employer.
Consultant shall not discriminate against any subcontractor, employee, or applicant for
employment because of race, religion, color, national origin, handicap, ancestry, sex,
sexual orientation, or age. Such non-discrimination includes, but is not limited to, all
activities related to initial employment, upgrading, demotion, transfer, recruitment or
recruitment advertising, layoff, or termination.
15. Labor Certification
By its signature hereunder, Consultant certifies that it is aware of the provisions
of Section 3700 of the California Labor Code that require every employer to be insured
against liability for Workers' Compensation or to undertake self-insurance in accordance
with the provisions of that Code, and agrees to comply with such provisions before
commencing the performance of the Services.
16. Non-Exclusive Engagement
This Agreement is not exclusive. City may utilize other approaches, including
traditional auctioneer services or sealed bids. It is, however, understood and agreed
that City will not utilize other disposal approaches for an asset at the time the asset is
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listed on the Website or sell by some other means to a prior bidder any item currently or
previously listed on the Website for the purpose of avoiding payment of the Consultant
fee. City agrees not to manipulate or interfere with the bidding process on the Website.
17. Entire Agreement
This Agreement contains the entire agreement of the parties with respect to the subject
matter hereof, and supersedes all prior negotiations, understandings, or agreements.
This Agreement may only be modified by a writing signed by both parties.
18. Severability
The invalidity in whole or in part of any provisions of this Agreement shall not
void or affect the validity of the other provisions of this Agreement.
19. Governing Law
This Agreement shall be governed by and construed in accordance with the laws
of the State of California.
20. No Third Party Rights
No third party shall be deemed to have any rights hereunder against either party
as a result of this Agreement.
21. Waiver
No waiver of any default shall constitute a waiver of any other default or breach,
whether of the same or other covenant or condition. No waiver, benefit, privilege, or
service voluntarily given or performed by a party shall give the other party any
contractual rights by custom, estoppel, or otherwise.
22. Prohibited Interests; Conflict of Interest
22.1 Consultant covenants that it presently has no interest and shall not
acquire any interest, direct or indirect, which may be affected by the Services, or which
would conflict in any manner with the performance of the Services. Consultant further
covenants that, in performance of this Agreement, no person having any such interest
shall be employed by it. Furthermore, Consultant shall avoid the appearance of having
any interest, which would conflict in any manner with the performance of the Services.
Consultant shall not accept any employment or representation during the term of this
Agreement which is or may likely make Consultant "financially interested" (as provided
in California Government Code §§1090 and 87100) in any decision made by City on any
matter in connection with which Consultant has been retained.
22.2 Consultant further warrants and maintains that it has not employed or
retained any person or entity, other than a bona fide employee working exclusively for
Consultant, to solicit or obtain this Agreement. Nor has Consultant paid or agreed to
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pay any person or entity, other than a bona fide employee working exclusively for
Consultant, any fee, commission, gift, percentage, or any other consideration contingent
upon the execution of this Agreement. Upon any breach or violation of this warranty,
City shall have the right, at its sole and absolute discretion, to terminate this Agreement
without further liability, or to deduct from any sums payable to Consultant hereunder the
full amount or value of any such fee, commission, percentage or gift.
22.3 Consultant warrants and maintains that it has no knowledge that any
officer or employee of City has any interest, whether contractual, noncontractual,
financial, proprietary, or otherwise, in this transaction or in the business of Consultant,
and that if any such interest comes to the knowledge of Consultant at any time during
the term of this Agreement, Consultant shall immediately make a complete, written
disclosure of such interest to City, even if such interest would not be deemed a
prohibited "conflict of interest" under applicable laws as described in this subsection.
23. Attorneys' Fees
If either party commences any legal, administrative, or other action against the
other party arising out of or in connection with this Agreement, the prevailing party in
such action shall be entitled to have and recover from the losing party all of its
attorneys' fees and other costs incurred in connection therewith.
24. Exhibits
All exhibits referenced in this Agreement are hereby incorporated into the
Agreement as if set forth in full herein. In the event of any material discrepancy
between the terms of any exhibit so incorporated and the terms of this Agreement, the
terms of this Agreement shall control.
25. Corporate Authority
The person executing this Agreement on behalf of Consultant warrants that he or
she is duly authorized to execute this Agreement on behalf of said Party and that by his
or her execution, the Consultant is formally bound to the provisions of this Agreement.
IN WITNESS WHEREOF, the Parties hereto, through their respective authorized
representatives have executed this Agreement as of the date and year first above
written.
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CITY OF SEAL BEACH GOV. ' LS, INC.By: 1_ R . ��Lt< By: 'SS-
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Jill R. Ingra Robert L. DeBardelaben
City Manag-r President
By: �1
Namen F�`�l�-V'�( L `4)� Va,�C=L(�F2>L/J
Attest: / r Its: We 0 t=wo
Lind. Devine
City Clerk
Approved as to Form:
By: IC- 11)/16(1-"
Quinn Barrow
City Attorney
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S7296-0001AU22723v2.doe
EXHIBIT A
Description of Services
Consultant shall provide the following services:
1.0 Consultant shall maintain and operate an online auction system for the City. Consultant shall
provide system access for City to list assets. Consultant will provide the services outlined in this
Exhibit for the period agreed to in Section 2.0 of the Agreement.
2.0 Consultant is not a party to the actual sale and has no control over the listed information or
ability of the buyer and City to complete the transaction.
3.0 Consultant Services
3.1 Access to Client Asset Server
Consultant shall provide City with Access to a GovDeals online "Client Asset Server" (CAS),for
the purpose of allowing City to load asset to the online auction system, maintain information
about the assets, and view and run reports. CAS shall provide City with the following
capabilities:
Accept descriptive information concerning an asset including unlimited photographs;
Allow different auction phases based upon dates and times; and
Allow City to set minimum start prices, bid increments, and reserves.
3.2 City Training
Consultant shall provide throughout the term of the Agreement training and support services to
assist City in implementing the GovDeals online auction system, which shall include:
Familiarization with the nature and operation of CAS;
Guidance in the posting of assets;
Provide ongoing support;
Procedures for taking and posting pictures of assets; and
Based on mutual agreement between Consultant and City,training and support services
will be provided on-site or via telephone or internet
3.3 Support Desk Assistance
Consultant shall provide Help Desk support available via telephone or email during normal
business hours, except announced holidays.
3.4 Marketing Assets to Potential Buyers
Consultant will market City assets posted to the online auction site and promote use of the site
to potential buyers, through the same means Consultant currently uses for similarly-situated
clients. Consultant and City will continue to work together to form a comprehensive approach
to best reach potential buyers through the Website.
3.5 Developing Marketing Strategy with City
3.5.1 Consultant shall work with the City to identify assets that can be posted on the
Website and may benefit from marketing attention.
3.5.2 Consultant will provide (on a monthly basis) documented proof of all marketing
efforts made on behalf of the City.
3.5.3 Consultant shall assist City in determining values and starting prices for all assets
the City requests assistance with, including but not limited to, unique and high
dollar assets.
3.6 Vehicle Sales
City will deliver vehicles to Consultant at 16305 Pacific Coast Highway, Seal Beach, California
90740. Consultant will house, insure, store, and show vehicles on-site at Consultant's cost until
sale is complete.
EXHIBIT B
City of Seal Beach, California
Online Sales - Terms and Conditions
All bidders and other participants of this service agree they have read and fully understand
these terms and agree to be bound thereby.
Guaranty Waiver. All assets are offered for sale "AS IS, WHERE IS." City of Seal Beach
(Seller) makes no warranty, guaranty or representation of any kind, expressed or implied, as to
the merchantability or fitness for any purpose of the property offered for sale. The Buyer is not
entitled to any payment for loss of profit or any other money damages — special, direct, indirect
or consequential.
Description Warranty. Seller warrants to the Buyer the property offered for sale will conform
to its description. Any claim for misdescription must be made prior to removal of the property.
If Seller confirms the property does not conform to the description, Seller will keep the property
and refund any money paid. The liability of the Seller shall not exceed the actual purchase price
of the property. Please note upon removal of the property, all sales are final.
Personal and property risk. Persons attending during exhibition, sale or removal of goods
assume all risks of damage of or loss to person and property and specifically release the seller
and GovDeals from liability therefore.
Inspection. Most assets offered for sale are used and may contain defects not immediately
detectable. Bidders may insect the property prior to bidding. Bidders must adhere to the
inspection dates and times indicated in the asset description. See special instructions on each
asset page for inspection details.
Consideration of Bid. Seller reserves the right to reject any and all bids and to withdraw from
sale any of the assets listed.
Buyer's Certificate. Successful bidders will receive a Buyer's Certificate by email from
GovDeals.
Buyer's Premium. If a Buyer's Premium is shown on the auction page bidder box, then
that amount (expressed as a percentage of the final selling price) will be added to the final
selling price of all items in addition to any taxes imposed.
Payment. Payment in full is due not later than 5 business days from the time and date of the
Buyers Certificate. Payment must be made electronically through the GovDeals Website.
Acceptable forms of payment are:
• PayPal
• Wire Transfer
• Visa
• MasterCard
• American Express
• Discover
PayPal and Credit Card purchases are limited to below $5,000.00. If the winning bid plus
applicable taxes, if any indicated, and the buyer's premium, equals more than $4,999.99, PayPal
and Credit Cards may not be used. If Wire Transfer is chosen, a Wire Transfer Transaction
Summary page will provide payment and account information. The Wire Transfer must be
completed within 5 days.
Removal. All assets must be removed within ten (10) business days from the time and date of
issuance of the Buyer's Certificate. Purchases will be released only upon receipt of payment as
specified. Successful bidders are responsible for loading and removal of any and all property
awarded to them from the place where the property is located as indicated on the website and in
the Buyer's Certificate. The Buyer will make all arrangements and perform all work necessary,
including packing, loading and transportation of the property. Under no circumstances will
Seller assume responsibility for packing, loading or shipping. See special instructions on each
asset page for removal details. A daily storage fee of$10.00 may be charged for any item not
removed within the ten (10)business days allowed and stated on the Buyer's Certificate.
Vehicle Titles. Seller will issue a title or certificate upon receipt of payment. Titles may be
subject to restrictions as indicated in the asset description on the website.
Default. Default shall include (1) failure to observe these terms and conditions; (2) failure to
make good and timely payment; or (3) failure to remove all assets within the specified time.
Default may result in termination of the contract and suspension from participation in all future
sales until the default has been cured. If the Buyer fails in the performance of their obligations,
Seller may exercise such rights and may pursue such remedies as are provided by law. Seller
reserves the right to reclaim and resell all items not removed by the specified removal date.
Acceptance of Terms and Conditions. By submitting a bid, the bidder agrees they have read,
fully understand and accept these Terms and Conditions, and agree to pay for and remove the
property, by the dates and times specified. These Terms and Conditions are displayed at the top
of each page of each asset listed on GovDeals. Special Instructions appearing on the asset page
will override certain sections of the terms and conditions.
State/Local Sales and/or Use Tax. Buyers may be subject to payment of State and/or local
sales and/or use tax. Buyers are responsible for contacting seller or the appropriate tax office,
completing any forms and paying any taxes that may be imposed.
Sales to Employees. Employees of the Seller may bid on the property listed for auction, so long
as they do NOT bid while on duty.
EXHIBIT C
Financial Settlement Services (FSS)
Consultant shall collect all auction proceeds due to City from the winning bidder. Under
no circumstance shall City collect any proceeds directly from the winning bidder and if
requested to do so, City shall refer the winning bidder directly to Consultant for payment
instructions.
Consultant will charge the winning bidder a "Buyer's Premium" of 12.5%, which shall
constitute the entirety of Consultant's compensation under the Agreement. City shall
not charge the winning bidder any additional "Buyer's Premium".
Consultant will collect all proceeds from the winning bidder, including the "Buyer's
Premium" through PayPal, credit card, or wire transfer. This is the only means of
payment by the bidder. Approved payment from the winning bidder through PayPal,
credit card, or wire transfer will be noted in CAS.
Consultant shall remit auction proceeds less the Buyer's Premium to the City within 30
days of sale of any asset.
City shall not release an asset to a winning bidder until City has received verification
from Consultant that payment has been received from the winning bidder.
Prior to releasing an item to a winning bidder, City shall ensure the winning bidder or
his/her agent has signed a "Bill of Sale" containing the following notation:
"Asset is sold as is, where is, and without warranty. Once the asset is
removed from the seller's premises there is no refund of monies previously
paid".
The Bill of Sale must be printed from the City Asset Server (CAS). Any other "Bill of
Sale" used by City must be submitted to Consultant for approval.
Consultant shall not remit proceeds to City for any assets sold without verification from
City that the item has been picked up by the winning bidder. It is City's responsibility to
notify Consultant when an item has been picked up, which is accomplished by City
accessing CAS and selecting the "Picked Up" option from the "Paid, not picked up"
report.
City shall notify Consultant of any transaction that was not completed no later than 15
business days after the end date of any auction. The fees for said incomplete
transaction shall be credited to City during the next invoice period.
In the case of vehicle sales, Consultant shall verify payment and notify City when the
vehicle has been picked up from Consultant's premises. Consultant shall remit such
sales proceeds to City with Consultant's verification of both payment and that the item
has been picked up by the winning bidder. Approved payment from the winning bidder
through PayPal, credit card, or wire transfer will be noted in CA, and pick shall be noted
by Consultant by accessing CAS and selecting the "Picked Up" option from the "Paid,
not picked up" report.
Consultant shall remit all proceeds collected, less the "Buyer's Premium," to City on a
weekly basis for all assets marked in CAS as "Picked Up". All proceeds will be remitted
electronically by Automatic Clearing House (ACH) unless elected on the following page
of this exhibit to receive a paper check. Whether proceeds are remitted electronically via
ACH or via paper check, a detailed backup will be submitted to City to support the
amount remitted.
Consultant shall absorb all costs of Charge Backs by PayPal or a credit card company
where an item is released to the winning bidder after City receives proper payment
notification from Consultant, Consultant or City receives proper pickup notification from
City, and the City obtained and retained a signed "Bill of Sale" from the winning bidder.
Consultant shall refund proceeds collected to the winning bidder in those rare occasions
where the winning bidder pays for an asset but never picks it up and subsequently
convinces PayPal or the credit card company to withdraw the amount from Consultant'
bank account. It is City's responsibility to request a credit on the asset paid for but not
picked up as soon as the allowable pick up time passes. By taking the credit, it insures
Consultant shall not charge City a fee and will allow City to resell the asset. If the asset
is mistakenly placed in "picked up" status by City or Consultant, and Consultant has
remitted payment, City agrees to refund this amount back to Consultant.
A Consultant' City Services Representative or a Consultant Help Desk Representative
will train City staff on how to effectively use the FSS feature and provide ongoing
support as needed. There are no additional costs to City for training and support.
Consultant is covered by a Crime Insurance Policy with a limit of $5,000,000, which
shall protect City against any loss of funds.
Upon 24-hour notice from City, Consultant shall allow City or City's agents or
representatives to inspect at Consultant's offices during reasonable business hours all
records, invoices, time cards, cost control sheets and other records maintained by
Consultant in connection with this Agreement. City's inspection rights shall survive for
two years following the termination of the Agreement.