Standardized RFPs Now an Exclusive Benefit of AFP Membership
August 14, 2006
AFP Staff Writers

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AFP is pleased to announce that access to AFP's standardized requests for proposals (RFPs) is now an exclusive benefit of AFP membership.

AFP has developed standardized RFPs for many cash management and treasury services. In 1996, AFP developed standardized RFPs for seven services: controlled disbursement, depository services, wholesale lockbox, wire transfer, automated clearing house (ACH), electronic data interchange (EDI), and electronic banking and information reporting. Those RFPs were updated in 2002.

In 1999, AFP expanded its library of RFPs to include disbursement outsourcing, treasury workstations, purchasing cards, merchant card services, retail lockbox, and custody services. AFP developed standardized RFPs for Global Treasury Services in 2001, covering services such as cash concentration and pooling, netting, foreign exchange, wire transfer and ACH/bulk transfers.

In more recent years, AFP added RFPs for short-term investment management services and pay cards. AFP is currently engaged in a project to develop a new standardized RFP for remote deposit, as well as to update the best-selling standardized RFP for wholesale lockbox.

Since the standardized RFPs were first offered in 1996, thousands of corporate treasury professionals and financial service providers have purchased the documents. AFP’s standardized RFPs are widely used and recognized as the standard by the treasury profession. Treasury professionals use the standardized RFPs to help them draft effective requests for proposals that provide the right information and ask the right questions to ensure that they receive appropriate and quality responses from potential providers.

Financial institutions use the standardized RFPs to prepare responses to the most commonly-asked questions about each service, allowing them to focus their time and efforts on identifying and addressing the unique needs of each potential customer. When used appropriately, the standardized RFPs benefit both the customers and providers of treasury and cash management services.

Visit the RFP Resource Center.

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