Actuarial Certification Services

Date: April 6, 2023 COMPETITIVE BID Issued by: Agriculture Financial Services Corporation COMPETITIVE BIDS FOR: Agriculture Financial Services Corporation (AFSC) is seeking a Vendor to provide Actuarial Certification of Premium Rate and Forward Price Methodologies for Livestock Price Insurance Program. COMPETITIVE BID #: 0689 CONTRACTED SERVICE: Actuarial Certification Services CLOSING: April 27, 2023 1:00 PM (MST) ATTENTION: Buyer, Business Services ADDRESS: AFSC 5718 - 56th Avenue Lacombe, Alberta T4L 1B1 PHONE: 587- 815 - 6159 FAX : 403-782-5650 E-MAIL: RFP@afc.ca TABLE OF CONTENTS: TERMS AND CONDITIONS - 1 - 1.0 INTRODUCTION - 1 - 1.1 DEFINITIONS - 1 - 1.2 MANDATORY REQUIREMENTS AND DESIRABLE PROVISIONS - 1 - 1.3 CONFIDENTIALITY AND SECURITY OF INFORMATION - 2 - 1.4 MATERIAL OWNERSHIP - 2 - 1.5 CONFLICT OF INTEREST - 2 - 1.6 INACCURACIES OR MISREPRESENTATIONS - 3 - 1.7 INQUIRIES - 3 - 1.8 BLACKOUT PERIOD - 4 - 1.9 LIABILITY FOR ERRORS - 5 - 1.10 NOTIFICATION OF CHANGES - 5 - 1.11 VENDOR’S EXPENSES - 5 - 1.12 SHORT-LISTING - 5 - 1.13 RESOURCE REPLACEMENT - 5 - 1.14 FREEDOM OF INFORMATION AND PROTECTION OF PRIVACY - 5 - 1.15 RESERVATION OF RIGHTS - 6 - 1.16 COMPETITIVE BID ADMINISTRATION - 7 - 1.17 AFSC’S POLICIES AND PROCEDURES FOR SECURITY AND TRAINING ON SITE - 7 - 1.18 VENDOR DEBRIEFING - 7 - 2.0 STATEMENT OF WORK - 8 - 2.1 BACKGROUND - 8 - 2.2 REQUIREMENTS - 8 - 2.3 VENDORS RESOURCES - 10 - 2.4 INFORMATION AND DATA REQUIREMENT - 10 - 2.5 TIMING - 11 - 2.6 CORPORATE CAPABILITIES AND EXECUTIVE SUMMARY - 11 - 2.7 APPROACH - 11 - 2.8 VALUE ADD – MAXIMUM TWO (2) PAGES - 12 - 2.9 PRICING - 12 - 2.10 ASSUMPTIONS - 13 - 2.11 DISCLOSURE - 13 - 3.0 EVALUATION - 13 - 4.0 CONTRACT REVIEW - 14 - 4.1 NEGOTIATIONS - 15 - 5.0 MASTER SCHEDULE - 16 - 6.0 PROPOSAL SUBMISSION GUIDELINES - 17 - 6.1 PROPOSAL FORMAT - 17 - 6.2 PROPOSAL SUBMISSIONS - 19 - TERMS AND CONDITIONS 1.0 Introduction Agriculture Financial Services Corporation (AFSC) is an Alberta Provincial Crown Corporation under the Ministry of Agriculture and Forestry (AF). AFSC’s core programs include business risk management programs and services to the agriculture industry as well as lending products and services to farmers’ agribusinesses, value added enterprises and commercial operations. More detailed information about AFSC is available on the website www.afsc.ca. The objective of this Competitive Bid is for AFSC to solicit Proposals from those qualified in providing the specified services described under section 2.0 of this Competitive Bid. 1.1 Definitions The following abbreviations and terminology are used throughout this Competitive Bid: Term Description Personnel Employees, contractors, subcontractors and agents of the Vendor. Vendor Any business that is registered in Canada and is authorized to operate in Alberta, proposing to submit a Proposal to the Competitive Bid. Competitive Bid Competitive Bid (RFP), Request for Quote (RFQ), Value Based Request (VBR), Notice of Proposed Procurement (NPP), Request For Information (RFI), Request for Comment (RFC) Statement of Work The services required by this Competitive Bid as described in section 2.0 of this Competitive Bid. Contract Monitor AFSC representative that will be responsible for the management of the contract that may result from this Competitive Bid. 1.2 Mandatory Requirements and Desirable Provisions Proposals that do not comply with the Competitive Bid requirements will be rejected. “Must”, “shall”, “mandatory” and “will” mean a requirement that must be met in order for the Proposal to receive consideration. For mandatory requirements, the Vendor must provide sufficient information in the Proposals to sustain compliance to the Competitive Bid’s Mandatory requirements. “Should” and “desirable” mean a provision having a significant degree of importance to the objectives of the Competitive Bid. For desirable/optional provisions, the Vendor’s Proposal should provide details of how the desirable/optional provisions are addressed. 1.3 Confidentiality and Security of Information The Vendor and the Vendor’s personnel shall: a) Keep strictly confidential all information concerning AFSC or third parties, or any of the business or activities of AFSC or third parties acquired as result of participation in the Competitive Bid. b) Only use, copy or disclose such information as necessary for the purpose of submitting a Proposal or upon written authorization of AFSC. The Vendor shall maintain security standards, including control of access to data and other information, consistent with the highest standards of business practice in the Vendor’s industry. 1.4 Material Ownership Ownership in all materials including copyright, patent, trade secret, industrial design or trade mark that are made, prepared, developed, generated, produced or acquired under or in relation to the Competitive Bid and any subsequent contract by the Vendor, the Vendor’s employees, subcontractors or agents belongs to AFSC as they are made, prepared, developed, generated, produced or acquired. Any such materials shall be delivered to AFSC upon completion or termination of the Competitive Bid. The Vendor: a) Irrevocably waives in whole all moral rights. b) Shall ensure that its employees, subcontractors and agents irrevocably waive in whole all moral rights to the materials made, prepaid, developed, generated produced, or acquired under the Competitive Bid and any subsequent contract and declares that these waivers shall operate in favour of AFSC and AFSC’s assignees and licenses. 1.5 Conflict of Interest Vendor(s) must fully disclose, in writing to AFSC on or before the closing date of the Competitive Bid, the circumstances of any possible conflict of interest or what could be perceived as a possible conflict of interest if the Vendor were to become a contracting party pursuant to the Competitive Bid. AFSC will review any submissions by Vendor(s) under this provision and may reject any Proposals where, in the sole opinion of AFSC, the Vendor could be in a conflict of interest or could be perceived to be in a possible conflict of interest position if the Vendor were to become a contracting party pursuant to the Competitive Bid. 1.6 Inaccuracies or Misrepresentations If, in the course of the Competitive Bidding process, AFSC determines that the Vendor has made a material misstatement or misrepresentation or that materially inaccurate information has been provided to AFSC, the Vendor will be disqualified from the Competitive Bidding process. 1.7 Inquiries All inquiries related to this Competitive Bid must be addressed to the AFSC Buyer on or before the date specified in the Master Schedule and as per the following: a) Inquiries must be sent by e-mail to the AFSC Buyer at RFP@afsc.ca, utilizing the Q&A template provided. b) No telephone inquiries will be accepted. c) No additional information or clarifications will be provided to inquiries received after the applicable deadline. d) In order to be considered, all inquiries must provide the following Vendor information: • Name of Primary Contact • Address • Telephone number • E-mail address • Competitive Bid Reference Number. e) All inquiries received will be reviewed by AFSC. f) All inquiries will be compiled and answered in the form of written Addendum(s) issued by AFSC via Alberta Purchasing Connection (APC) to all prospective Vendor(s). g) Vendor(s) are advised that all inquiries answered by AFSC will be provided verbatim in writing to all prospective Vendor(s). h) Inquiries that may contain proprietary or confidential information of a Vendor may be answered exclusively to the submitting Vendor (AFSC will direct the correspondence regarding this inquiry only to the Vendor’s Primary Contact) provided the Addendum does not: • Require a modification to this Competitive Bid; or • Potentially provide an undue advantage in the competitive process. i) If either of the above situations (h) arises, AFSC reserves the right to: • Request the Vendor reword and resubmit the inquiry; or • Decline to provide a response. j) AFSC reserves the right to not disclose information in conjunction with this Competitive Bid on any inquiry that requires releasing information that AFSC, in its sole discretion, regards as confidential to AFSC. k) AFSC reserves the right in any event to decline to provide a Proposal for any reason in its sole discretion. l) It is the Vendor’s responsibility to notify AFSC, in writing, and in advance, of any change in the Vendor(s) Primary Contact Information. m) AFSC assumes no responsibility or liability arising from information obtained in a manner other than as described in this Competitive Bid. 1.8 Blackout Period With respect to the Competitive Bid, AFSC prohibits communications initiated by a Vendor to any AFSC employee, other than the Purchasing Department, for the period of time from the submission date of the Competitive Bid up to and including the date of contract award resulting from this Competitive Bid. Any communication between a Vendor and AFSC during the Blackout Period will be initiated by AFSC, in writing, for the purpose of obtaining information or clarification necessary in order to ensure a proper and accurate evaluation of the Proposal. Any communication initiated by a Vendor during the Blackout Period may be grounds for disqualifying the offending Vendor from further consideration for the acquisition and/or any future AFSC solicitations. AFSC will notify all Vendors upon award of a contract from this requisition. Accordingly, Vendors are asked to refrain from requesting status updates during the proposal evaluation process. Vendors who are currently engaged in an active contract with AFSC may continue to communicate directly with the AFSC Contract Monitor as it relates to activities covered under the active contract. 1.9 Liability for Errors While every effort is taken to ensure an accurate representation of information in this Competitive Bid, AFSC shall not be liable or accountable for any error or omission in any part of this Competitive Bid. 1.10 Notification of Changes Any changes to this Competitive Bid, as well as the Response(s) to inquiries, will be posted as an addendum on the Alberta Purchasing Connection (APC). Vendors should routinely check APC for amendments and adhere to any amendment requirements. In the event of a Directed Competitive Bid, Vendors should routinely check the email address the Bid was delivered to for amendments. 1.11 Vendor’s Expenses Vendors are solely responsible for their own expenses in preparing the Proposal, as well as any subsequent Proposals, including any costs associated with attendance to Information sessions, site tours or a potential short-listed Vendor’s interview with AFSC. 1.12 Short-Listing A short-list of Vendors may be established. Short listed Vendors may be requested to make formal presentations, regarding their Proposal to AFSC. Key Vendor management and technical personnel will be expected to participate in the presentations. This process is used to validate claims made in the Proposal and confirm the Vendor’s ability to meet the requirements in the Competitive Bid. These presentations must be made at no cost to AFSC. Based on information obtained at the presentation, Vendors’ scores may be adjusted. 1.13 Resource Replacement Resource replacement is not encouraged, however, there could be circumstances following the Competitive Bids closing date and prior to contract execution that a Vendor may request that a proposed resource be replaced. Any proposed resource replacement must have, in the opinion of AFSC, equivalent or better qualifications than the originally proposed resource. Vendors will not receive additional credit in the evaluation process if the qualifications of the replacement resource exceed those of the original resource. AFSC reserves the right to deny any request for replacement and reject any proposed replacement. 1.14 Freedom of Information and Protection of Privacy The Vendor acknowledges that: a) The Freedom of Information and Protection of Privacy Act of Alberta (FOIP) applies to all information and records relating to, or obtained, generated, created, collected or provided under the Competitive Bid and any subsequent contract and which are in the custody or control of AFSC. FOIP allows any person a right of access to records in AFSC’s custody or control, subject to limited and specific exceptions as set out in FOIP. b) FOIP imposes an obligation on AFSC, and through the Competitive Bid and any subsequent contract on the Vendor(s), to protect the privacy of individuals to whom information relates. The Vendor(s) will protect the confidentiality and privacy of any individual’s Personal Information accessible to the Vendor(s) or collected by the Vendor(s) pursuant to the Competitive Bid and any subsequent contract. c) The Vendor(s), if it considers portions of its Proposal to be confidential, will identify those parts of its Proposal to AFSC considered to be confidential and what harm could reasonably be expected from disclosure. AFSC does not warrant that this identification will preclude disclosure under FOIP. d) Materials produced by the Vendor(s), in connection with or pursuant to the Competitive Bid and any subsequent contract, which are the property AFSC pursuant to the Competitive Bid and any subsequent contract, could be considered records under the control of a public body and could therefore also be subject to the FOIP before delivery to AFSC. As such, the Vendor must conduct itself to a standard consistent with FOIP in relation to such materials. e) For the records and information obtained or possessed by the Vendor(s) in connection with or pursuant to the Competitive Bid and any subsequent contract, and which are in the custody or control of AFSC, the Vendor(s) must conduct itself to a standard consistent with FOIP when providing the services or carrying out the duties or other obligations of the Vendor under the Competitive Bid and any subsequent contract. The purpose for collecting Personal Information for the Competitive Bid is to enable AFSC to ensure the accuracy and reliability of the information, to evaluate the Proposal, and for other related program purposes of AFSC. Authority for this collection is the Government Organization Act, as amended from time to time. The Vendor(s) may contact the Buyer identified in the Competitive Bid regarding any questions about collection of information pursuant to the Competitive Bid. 1.15 Reservation of Rights AFSC reserves the right in its sole discretion to: a) Accept or reject any or all Proposals. b) Disqualify a Vendor in the event that, in AFSC’s opinion, the Proposal does not contain sufficient information to permit a thorough evaluation. c) Verify the validity of the information supplied and to reject any Proposal where the contents appear to be incorrect or inaccurate in AFSC’s estimation. d) Seek Proposal clarification at any time with Vendor(s) to assist in making evaluations. e) Accept Proposals in whole or in part. f) Accept a Proposal with only minor non-compliance. g) Retain one copy and destroy and dispose of all other copies of any and all Proposals received by AFSC. h) Cancel this Competitive Bid process at any stage, without award or compensation to Vendors, their officers, directors, employees or agents, without assigning any reasons. 1.16 Competitive Bid Administration The Proposal must indicate that the Vendor accepts the Procedures set down in this Competitive Bid. In accordance with this Competitive Bid, the Vendor, if it considers portions of its Proposal to be confidential, shall identify those parts of its Proposal to AFSC considered to be confidential and what harm could reasonably be expected from disclosure. AFSC does not warrant that this identification will preclude disclosure under FOIP. 1.17 AFSC’s Policies and Procedures for Security and Training On Site The Vendor, its employees, subcontractors and agents when using any of AFSC’s buildings, premises, equipment, hardware or software shall comply with all safety and security policies, regulations or directives relating to those buildings, premises, equipment, hardware or software that are promulgated by AFSC from time to time. The Vendor’s employees, subcontractors and agents shall comply, as applicable, with all provisions of the Alberta Occupational Health and Safety Act, Occupational Health and Safety Regulation and Occupational Health and Safety Code with respect to the provision of services and materials. When the Workers’ Compensation Act (Alberta), as amended, applies, and upon request from AFSC, deliver to AFSC a certificate from the Workers’ Compensation Board showing that the Vendor is registered and in good standing with the Board. 1.18 Vendor Debriefing The Corporate Purchasing Section will, at the request of an unsuccessful Vendor who responded to this Competitive Bid, conduct a debriefing after contract award for the purpose of informing the Vendor on the reasons their Proposal was not selected. 2.0 STATEMENT OF WORK 2.1 Background In April 2014, Alberta, British Columbia, Saskatchewan and Manitoba launched the pilot Western Livestock Price Insurance Program (WLPIP), with the support of Agriculture and AgriFood Canada. The premium is fully paid by producers and administrative cost is shared among governments. The WLPIP is regional expansion of Alberta’s Livestock Price Insurance Program, where Alberta provides delivery services on behalf of the other western provinces. The program is now referred to as the Livestock Price Insurance (LPI) Program. For more information visit http://www.lpi.ca/ The Western Livestock Insurance Program Framework Agreement requires that premium rate methodology and the assessment of self-sustainability of the livestock program be certified by an actuary. AFSC need to certify its “Premium Rate and Forward Price Methodologies” in accordance with the National Certification Guidelines for Premium Rate and Forward Price Methodologies for Western Livestock Price Insurance Program (WLPIP). 2.2 Requirements AFSC requests the Vendor’s actuarial opinion on the LPI methodology used to determine policy premium and coverage by AFSC. The Vendor’s opinion will conform to relevant regulations and national guidelines, specifically:  The Farm Income Protection Act  The LPI Multilateral Agreement;  The Detailed Program Specifications;  National Certification Guidelines for Premium Rate and Forward Price Methodologies for Western Livestock Price Insurance Program 2014; and  Standards of Practice for Property and Casualty Insurance Ratemaking as well as any other standards relevant for LPI Program. The Vendor will review and perform all necessary analysis required to provide the actuarial opinion, which include the following tasks:  Review of the premium rate and forward price methodology of LPI Program.  Review appropriateness of premium rating model and catastrophic assumptions. If not appropriate, recommend methodologies for improvement.  Review the appropriateness of price and basis (and spread) forecast methodology and parameters. If not appropriate, recommend new basis (and spread) forecasting models/methodologies with a goal in reducing any bias in mean actual-to-forecast basis differences.  Review the stochastic model and update the model as required to assess the actuarial soundness and self-sustainability of the program.  Return the updated stochastic model if the model is updated.  Review LPI methodology against the appropriate standard of practices.  Review any proposed changes in methodology submitted by AFSC and provide comments on actuarial soundness and self-sustainability.  Request and review any additional materials required to meet the guideline.  Documentation of the Vendor’s opinion in a report. The opinion will include comments on the actuarial soundness and self-sustainability of methodologies as outlined in the guideline.  Answer any questions and perform any additional analysis or edits required to obtain AAFC approval of the LPI Program Certification. The Vendor is expected to demonstrate experience and expertise in actuarial certification. The Vendor should also have expertise in their team to evaluate LPI methodologies against relevant standard of practices for financial derivative pricing. Mandatory Requirements: 2.2.1 Describe your experience in financial derivatives or such type of products. Vendor’s Response/Comments: 2.2.2 Describe your experience in building/reviewing stochastic models and actuarial certification of insurance program. Vendor’s Response/Comments: 2.2.3 Describe your understanding of the project requirements along with what is expected from AFSC and what is expected by AAFC. Vendor’s Response/Comments: 2.2.4 Outline your methodology to accomplish this project. Provide your proposed activities and timelines from start to finish of this project. Vendor’s Response/Comments: 2.2.5 Provide software capabilities in your firm such as Excel, @Risk, SAS etc. to accomplish this work. Vendor’s Response/Comments: 2.3 Vendors Resources: In the chart below please provide a list of individual resources expected to be involved. Please include resume/bios for each resources in your response (as an appendix). Resume should outline any applicable certifications, and should outline experience specific to this project, and how this experience will benefit AFSC. Roles Responsibility Estimated Effort (Hours) Number of Resources Required E.g. Project Manager Oversee project 1 2.4 Information and Data Requirement To perform the review, AFSC will provide the successful Vendor following information:  Background information for LPI Program.  Description of LPI premium rate, forward price and self-sustainability methodologies (Detail Program Specification Annex A).  Any supporting analyses and assumptions.  Historical actual program experience data.  Restated program data and methodology.  Description of any proposed changes in methodology being considered, if any.  An electronic copy of LPI Stochastic Model and data.  Documentation of the assumptions used in the Stochastic Model. Please list any additional document you may require from AFSC. 2.5 Timing The Vendor should be ready to start work on initial project upon execution of this agreement. The work is expected to start no later than June 5, 2023. AFSC expects the project to be completed before December 31, 2023. AFSC in its discretion may change these dates. 2.6 Corporate Capabilities and Executive Summary Proposals must include an executive summary of the key features of the Proposal. This summary should include: a) A brief introduction of the Vendor; b) A brief company history and overview of the Vendor as it applies to the content of the Competitive Bid. c) Demonstrate a sound understanding of the scope, objectives and requirements presented in this Competitive Bid. d) The number and nature of engagements in similar scope and size as outlined in section 2.0 of Competitive Bid during the past two (2) years. e) Industry awards, certifications (FCIA) and other market place distinctions. f) Indicate why the Vendor considers itself to be a “right” service provider and what key strengths it will bring to AFSC in the immediate and long term. 2.7 Approach Proposal should include the following: a) A description of corporate philosophies, values, culture and approaches especially as they relate to the requirements of AFSC. b) A description of the Vendor’s decision making approach and philosophy. c) The Proposal must provide two project examples to demonstrate the Vendor’s ability to take ownership, accept accountability and deliver on commitments made and to “stand behind their work”. d) How the Vendor plans to proactively address issues that may come up in regards to a relationship with AFSC. Provide the Vendor’s approach to quality assurance and performance management processes, techniques, change control and tools. Vendor(s) proposing an alternative to a Competitive Bid requirement must clearly denote each as an alternative and substantiate the merit of that alternative. Proposed alternatives must substantially meet the fundamental intent of the requirement. 2.8 Value Add – Maximum two (2) pages The Vendor may describe two (2) significant value added services provided relative to the scope of work provided to other clients including the Vendor’s commitment for future support. The Proposal should contain a description of value added services provided by the Vendor and the strategy that the Vendor would employ in proposing a similar type of service to AFSC. The Proposal must clearly outline if there are any additional cost for the value added services. 2.9 Pricing The Vendor must provide pricing based on the requirements in 2.0 and any assumptions in section 2.10. Please provide details on the calculation including the hourly rates of your resources in Canadian dollars. Identify any other administrative fees or services charges, and indicate how you will be invoicing in detail. Project Estimated Effort (in hours) Estimated Total Cost LPI Certification Please complete the table below for all Vendor’s resources identified in Section 2.3 Resource Role Hourly Rate Please edit tables as needed. Cost estimates are based on a 7.25 hour day, 5 days per week, assuming 100% utilization. There are no allowances for vacation or sick days. Pricing must be inclusive of travel or living expenses for these services if required. G. S. T. Certification Clause This is to certify that the services ordered or purchased are for the use of, and are being purchased by AFSC with Crown funds, and are therefore not subject to the goods and services and harmonized sales tax. 2.10 Assumptions Vendor is expected to identify in detail any assumptions that have been made during the creation of their written Proposal to the scope identified. 2.11 Disclosure In the interest of full disclosure to all Vendors wishing to submit a Proposal, please note that AFSC has had a previous working relationship with J. S. Cheng & Partners, IAO Actuarial Consulting and PricewaterhouseCoopers LLP. In this regard, through the normal course of providing prior services to AFSC, it is likely that this Vendor will have acquired knowledge about AFSC, in addition to having had access to information, beyond what has been included within this Competitive Bid. The nature of the services provided by the Vendor to AFSC include services that are similar, or identical, to the services described in the Statement of Work. 3.0 Evaluation The members of the evaluation committee consist of AFSC staff from the product lines or a part of the specified project/area/department requesting the services. Written Proposals will be evaluated and scored based on the information requested within the competitive bid itself based on the following criteria. The Competitive Bid evaluation criteria uses the following rating categories. Evaluation Criteria The evaluation committee will utilize the below criteria to evaluate the Proposal: Evaluation Category Weighting % Corporate Capability & Executive Summary (For this criterion, the evaluation committee will focus on the Vendor’s response to Section 2.6) 5 Requirements and Methodology (For this criterion, the evaluation committee will focus on the Vendor’s response to Section 2.2 including 2.2.1, 2.2.2, 2.2.3, 2.2.4 & 2.2.5) 35 Resource Capabilities (For this criterion, the evaluation committee will focus on the Vendor’s response to Section 2.3) 25 Approach (For this criterion, the evaluation committee will focus on the Vendor’s response to Section 2.7) 5 Value Add (For this criterion, the evaluation committee will focus on the Vendor’s response to Section 2.8) 5 Pricing (For this criterion, the evaluation committee will focus on the Vendor’s response to Section 2.9) 25 Total 100% 4.0 Contract Review All agreements must be drafted (or reviewed and agreed to) by AFSC’s Legal Department. Previously entered into agreements between AFSC and the successful Vendor WILL NOT be used as the form of definitive agreement for this engagement. The definitive agreement that is entered into between the Vendor and AFSC will incorporate AFSC’s Terms of Business set out at Appendix (B), as well as Key AFSC Standards for Contracts, which are as follows:  Termination for Convenience upon written notice.  No Limitations of Liability or Monetary Caps granted.  No Disclaimers of Liability granted.  No Indemnities Against Third Party Claims granted (limited exceptions).  Governing Law - Province of Alberta, Country of Canada.  Finite Term of Contract - No Auto-Renewals. If the Vendor wishes to propose alternative wording to the Terms of Business set out at Appendix (B) or disagrees with the above-listed Key AFSC Standards for Contracts, the Vendor must complete and submit Appendix (C) (Alternate Wording – Additional Clause Template) clearly citing the suggested variations. ***Note that AFSC has the sole discretion to consider whether wording changes or alternate clauses will be considered for negotiation purposes and/or incorporated into the definitive agreement. The extent and materiality of any requested changes/deviations from the Terms of Business or Key AFSC Standards for Contracts by the Vendor will impact the Vendor’s overall rating when the Proposal is evaluated. By submitting a Proposal without a completed Appendix (C) attached thereto, Vendors are deemed to accept the Terms of Business as set out at Appendix (B), as well as the above-listed Key AFSC Standards for Contracts as a condition of submitting a Proposal. A Vendor’s acceptance of the Terms of Business and Key AFSC Standards for Contracts will have a positive bearing on the Vendor’s overall score. As part of the Vendor’s Proposal, AFSC requires the Vendor to submit the Vendor’s typical form of agreement generally used with customers. ***The Vendor’s typical form of agreement will NOT be used as the definitive agreement between AFSC and the Vendor. While AFSC may consider the typical form of agreement when drafting the definitive agreement between AFSC and the Vendor, the definitive agreement will be based on the Terms of Business and the Key AFSC Standards for Contracts. ***Note that AFSC has the discretion to amend the wording of the Terms of Business as set out at Appendix (B) when incorporating into the definitive agreement and, to the extent that there is any inconsistency between the Terms of Business and the definitive agreement, the definitive agreement shall take precedence. No work will commence in relation to this Competitive Bid until a fully executed definitive agreement is in place between AFSC and the Vendor. Failure to comply with this requirement will result in non-payment of any activities performed prior to the execution of the definitive agreement. 4.1 Negotiations AFSC may require selected Vendor(s) to participate in negotiations and to submit revisions to pricing, technical information, agreements and any other items in any Proposal that may result from negotiations. If negotiations do not result in modification of the agreement(s) that is acceptable to AFSC, the Proposal may be rejected. 5.0 Master Schedule The Master Schedule of Competitive Bid related events is set out in the table below and is governed by the following principles: a) In the event that any dates elsewhere in this Competitive Bid conflict with a date set out in this table, the date set out in this table shall prevail. b) All times listed are based on Mountain Standard Time (MST). c) AFSC reserves the right to adjust the dates of the schedule if required through an addendum process. # Event Scheduled Date/Time 1 AFSC to accept e-mail inquiries relevant to this Competitive Bid. Vendor(s) must use the Q & A template provided as Appendix (A) and submit through RFP@afsc.ca. April 14, 2023 3:00 pm (MST) 2 Issuance of the final written response by AFSC to inquiries received by Vendors(s). AFSC in its discretion may extend this time. April 20, 2023 3:00 pm (MST) 3 Final receipt of Proposals. (Closing Date) April 27, 2023 @ 1:00pm (MST) 4 Evaluation of Competitive Bid written Proposals. AFSC in its discretion may extend this time. April 27 - May 4, 2023 5 Interviews or presentations (if required) for short-listed Vendors. AFSC in its discretion may change this date. May 8 – 12, 2023 6 AFSC to perform reference checks on short-listed Vendors. AFSC in its discretion may change this date. May 15 – 19, 2023 7 Final Evaluation and notification of award of contract. AFSC in its discretion may change this date. May 15 – 19, 2023 8 Target Commencement Date. AFSC in its discretion may change this date. June 5, 2023 6.0 Proposal Submission Guidelines 6.1 Proposal Format To facilitate ease of evaluation by the evaluation team, and to ensure each Proposal receives full consideration, Proposals should be organized in the following format using the section titles and sequence listed below: Table of Contents; a) Pre-Screening Requirements (Submission of FCIA Certification) b) Proposal to Statement of Work (2.0); including Legal and Contact Information:  The full legal name of the Vendor.  The location of the Vendor’s head office and service centers.  A Vendor contact for all questions and clarifications arising from the Proposal.  Vendor contact authorized to participate in contract finalizations. References  The Proposal should include three (3) references including, but not limited to organization, address, contact name, telephone number and email address.  References should include organizations that can verify the satisfactory provision, performance and or/servicing of goods and associated services the name as, or similar to the requirements of this Competitive Bids, the Corporate Purchasing Section may contact references in addition to those provided in the Proposal.  References may be conducted to validate information provided in the Vendor’s Proposal.  It is expected that the Vendor(s) will be able to arrange for AFSC to contact the reference during the evaluation period.  Government and Agencies, references would be preferred if available. (Optional) Additional Information  Additional information may be included at the Vendor’s discretion, but this must not detract from the ability of AFSC to easily reference information for evaluation purposes. Assumptions  Vendor is expected to identify in detail any assumptions that have been made during the creation of their written Proposal to the scope identified. c) Alternate Wording Template (Appendix C) d) Vendor’s Agreement Template e) Proof of WCB and Insurance f) Proof of Corporate Registry g) Financial Requirements (optional) h) Vendor’s Ethics Policy (optional) The Vendor should have an ethics policy that guides their organization in all its business activities, and should provide a copy of this ethical policy as an attachment to their Proposal. This policy will not form part of the evaluation. Appendices The following Appendices are included and applicable to this Competitive Bid: Appendix A: Question and Answer Template Appendix B: Terms of Business Appendix C: Alternate Wording-Additional Clause Template Appendix D: WLPI - Guidelines Responsive proposals should provide straightforward, concise information that satisfies the requirements noted in the Proposal Guidelines section of this RFP. Emphasis should be placed on conformity to AFSC’s instructions, requirements of this RFP, and completeness and clarity of content. Ambiguous, repetitive, unclear or unreadable Proposals may be cause for rejection. 6.2 Proposal Submissions Vendors must provide an electronic version of their proposal by e-mail to RFP@afsc.ca prior to the closing date and time of this Competitive Bid. Electronic versions (emails) must be less than 18 MB in order for AFSC to receive the Vendor’s submission. If the proposal is larger than 18 MB, it must be divided into a sufficient number of files such that each email, including attachments, is less than 18 MB. AFSC cannot accept files on media storage devices. In responding to this Competitive Bid, your attention is drawn to the following:  Proposals received after this Competitive Bid’s closing date and time will be rejected.  Proposals received not in the order outlined above in Section 6.1 may not be evaluated further. ***VENDORS, BY SUBMITTING A PROPOSAL, ARE DEEMED TO HAVE ACCEPTED THE TERMS AND CONDITIONS OF THIS COMPETITIVE BID***