APPENDIX D – Fee Proposal
Fees
- Please provide a proposed fee schedule for the strategy under consideration, including any breakpoints.
- Are these fees negotiable?
- Please provide an overview of all other fees and expenses that would be incurred by SURS if it was to invest in the proposed product, including fees associated with transactions and the custody and administration of commingled fund vehicles, if applicable.
Once a manager has been selected, negotiations of the fee structure may become necessary in order to account for the size of funding, the increments of funding, and any clarification. In no case will the negotiations result in a fee that is higher than the fee contained in the proposal.
Negotiation of Fees and Best and Final Offers
While fees are a material element in selection, SURS shall reserve the right to negotiate fees and request best and final offers. Cost, however, is only one of several factors used to evaluate proposals and SURS may select the organization other than the lowest cost provider.
The successful bidder agrees that any resulting contract awarded under this RFP is subject to successful contract negotiations. Any such contract is made subject to available budgetary appropriations and shall not create any obligation on behalf of SURS in excess of such appropriations. In the event that no funds or insufficient funds are appropriated and budgeted, any contract awarded under this RFP shall terminate without penalty or expense to SURS thirty (30) days after written notification or termination from SURS.
Services provided by the successful bidder must be performed in compliance with all applicable federal and state laws. The successful bidder agrees that any contract awarded under this RFP shall be enforced, governed and construed in all respects in accordance with the laws of the State of Illinois to the extent such laws are not pre-empted by the laws of the Unites States of America. The successful bidder agrees that it will bring any suit, action, claim or proceeding in, and will submit to (and consents and waives any objection to) the jurisdiction of the Illinois Court of Claims in connection with any claim asserted against SURS arising out of, or in connection with, any Agreement awarded under this RFP. The successful bidder agrees to submit to (and consents and waives any objection to) the jurisdiction of each of the Sixth Judicial Circuit of Illinois, Champaign County, Urbana, Illinois and the United States District Court for the Central District of Illinois in Urbana, Illinois in respect of any suit, action, claim or proceeding brought by SURS arising out of, or in connection with, this Agreement. The successful bidder agrees that SURS does not waive sovereign immunity by entering into an Agreement awarded under this RFP.
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