INVESTMENT ADVISORY SERVICES



Indiana Secondary Market for Education Loans, Inc.REQUEST FOR PROPOSAL INVESTMENT ADVISORY SERVICESDEADLINE FOR INQUIRIES: January 15, 2014DEADLINE FOR SUBMISSION: January 29, 2014INDIANA SECONDARY MARKET FOR EDUCATION LOANS, INC.INVESTMENT ADVISORY SERVICESINTRODUCTIONThe Indiana Secondary Market for Education Loans, Inc. (“ISM”) is soliciting proposals from investment advisory firms for portfolio management services including those described below in the scope of services. Neither this RFP nor any response (proposal) submitted hereto are to be construed as a legal offer.ISM is an Indiana non-profit, public benefit corporation organized exclusively for education purposes. ISM serves as the State of Indiana’s designated secondary market for education loans and acts as an eligible lender under the Higher Education Act, as amended. In addition, ISM authorized to be a direct lender of private student loans. ISM’s programs are designed to facilitate access for all Indiana residents to educational funding. Informational presentations and distributing educational materials related to education funding are two of the methods used to accomplish this goal and support ISM’s mission of helping Hoosiers fund their education responsibly. ISM is currently governed by a nine member Board of Directors appointed by the Governor of the State of Indiana. PORTFOLIO DESCRIPTION ISM’s current investment portfolio consists of the following:Reliance Trust 13,838,018.641TD Ameritrade 7479 11,888,776.252TD Ameritrade 3390 67,371,971.663ONB General 2,401,529.09ONB Savings 18,296,339.86$ 113,796,635.50 1 – invested in CDARS program – maturity up to 3 years 01/2014-10/20152 – invested in CDARS program – maturity up to 5 years 01/2014-04/20183 – 6 month investments in Fed Home Loan Bank, US Treasury, FNMA – matures 03/2014In addition ISM has $39 million held in our 98 Trust Indenture not eligible for investment.SCOPE OF SERVICES ISM is searching for a qualified investment advisory firm to provide advice and expertise with respect to the management of invested assets of ISM to the Board of Directors and ISM Staff. The selected firm will assist ISM’s Board of Directors and Investment Committee in creating a new investment policy to be utilized going forward. This policy will need to take into account the long term nature of much of its cash portfolio – greater than ten to fifteen years – while providing for the needs of the organization during the intervening years. Once the policy is approved the selected firm will manage and invest the funds under the direction of the Board of Directors and the Investment Committee. Responding firms must demonstrate extensive experience and superior capability for providing those investment advisory services that are critical to the future success of ISM. Firms must be able to provide the following:Meeting Participation/Availability including Board meetings, investment committee meetings and meetings with ISM staff as neededAdvise on the development, implementation and/or revision of investment policies and guidelines for further review and approval by IFA.Advise on both strategic and tactical investment issues including cash flow/maturity analysis, credit analysis of investment instruments in portfolioProvide monthly, quarterly, and annual reporting on all funds under managementProvide annual asset allocation reviews and recommendations.Advise on proxy policies.Perform trading cost analysis as requested.Advise on portfolio structure (e.g. active vs. passive, investment style mix). The investment consultant must provide its opinion of best practices in the industry with regards to the portfolio structure and take ISM’s specific needs and concerns into consideration and structure to match ISM’s objectives.Evaluate market risk and develop strategies that minimize impact on portfolio and meet established performance benchmarks, recommend corrective action, and participate in implementing the recommendations.Provide research and reports on various investment topics and provide educational presentations of the Board or Staff as requested. Advise on rebalancing policies.Provide assurance of portfolio compliance with applicable policies and laws.Other duties or special projects as necessary.Under this contract some of ISM’s objectives include the following: Increase incremental income and yield from its portfolio in a risk managed way to match the projected use of fundsProvide appropriate portfolio protection from risk of loss and safety of principalProvide for operational efficiency and information flow on the portfolio Liquidity so that investments mature in time to meet anticipated cash requirementsFull investment as in all funds should be fully deployed as earning assetsMinimal turnover of securities prior to maturityPROPOSAL EVALUATIONISM has established an investment committee and may consult with other qualified individuals that will act as an evaluation team. Proposals will be evaluated based upon the proven ability of the Respondent to satisfy the requirements in an efficient, cost-effective manner, taking into account quality of service with minimal tolerance for error. Specific criteria include:CapabilitiesThe firm’s documented experience in successfully completing contracts of a similar size and scope to those required by this RFP.The firm’s detailed approach and plans to perform the services required by the scope of services contained in this RFP.The firm’s understanding of the overall investment program and its unique constraints.PersonnelThe competence of the professional personnel who would be assigned to ISM. Qualifications of professional personnel will be measured on education, experience and projects similar to those described in this RFP.FeesAll proposals will be reviewed by members of ISM. ISM reserves the right to award a contract to the firm(s) which, in its sole opinion, will be most advantageous to ISM achieving its goals and objectives. ISM is not required and will not be obligated to award this contract to the firm with the lowest cost. References may be contacted. It is possible that finalists will be interviewed by persons participating in the selection process.SUBMISSION INSTRUCTIONS Due date and format for proposals:All proposals must be received at the address below no later than January 29, 2014 at 5:00 P.M. EST. Each Respondent must submit one original (marked “Original”), one copy of the proposal in electronic format, and three hard copies of their proposal, including the cover letter and other related documentation as requested in this RFP. The proposals must be addressed/delivered to:Indiana Secondary Market for Education Loans, Inc.Attn: Linae Devaisher251 North Illinois Street, Suite 400Indianapolis, IN 46204Phone: 317-715-9009Fax: 317-715-9001Email: ldevaisher@Any proposal received after the due date will not be considered. Any late proposals will be returned, unopened, to the Respondent, upon request, within thirty (30) days of filing.Schedule for Proposal Submission and EvaluationEvery effort will be made to adhere to the following schedule.01/06/14Release of Request for Proposal01/15/14Respondent’s inquiry period ends01/29/14Proposal submission dateFebruaryEvaluation and selection of finalistsFebruaryMeetings with finalistsProposal FormatA complete proposal will include the following:Hard copy submission of a cover letter. This letter must briefly summarize the Respondent’s ability to supply the requested services and contain a statement indicating the Respondent’s willingness to provide the requested services subject to the terms and conditions set forth in the RFP including, but not limited to, ISM’s standard contract clauses. A person authorized to commit the Respondent to its representations must sign the transmittal letter. Respondent’s personnel signing the transmittal letter of the proposal must be legally authorized by the organization to commit the organization contractually.Hard copy submission of a business proposal with the information and attachments as described here. Respondent should demonstrate in this section its ability to meet the requirements set forth in the scope of services. Fees must be submitted in U. S. dollars. The proposed fees shall include all costs for providing services to ISM as described and shall be guaranteed for two years. In no case will the final fee be higher than the fee contained in the proposal. In addition, payment of fees shall be in arrears. We require that fees be in “hard” dollars and not accomplished through compensating balances or netted against yield.Exhibit A is the base contract that will be used if an award is made. Exhibit A is subject to revision and modification by ISM in its sole discretion. If the Respondent wishes to include or change any language in the contract being submitted, proposed language should be included in this section, in the form of an amendment to the contract. For each change included, the Respondent should indicate that the change is required by the Respondent in any contract resulting from this RFP and why it is required (if the required change is unacceptable to ISM, the Respondent’s proposal may be considered unacceptable) or indicate that the change is desired (but not required) by the Respondent in any contract resulting from this RFP.The Respondent should include a list of at least three (3) clients for whom the Respondent has provided products and services that are the same or similar to those products and services requested in this RFP. Information provided should include the name, address, and telephone number of the client facility and the name, title, e-mail address, and phone/fax numbers of a person who may be contacted for further information. A form is included within this RFP document to provide information requested.The Respondent must list any subcontractors that are proposed to be used in providing the required services. The subcontractor’s responsibilities under the proposal, the subcontractor’s form of organization, and an indication from the subcontractor of a willingness to carry out these responsibilities are to be included for each subcontractor. This assurance in no way relieves the Respondent of any responsibilities in responding to this RFP or in completing the commitments documented in the proposal.This section must include the Respondent’s financial statements, including an income statement and balance sheet for each of the two most recently completed fiscal years.This section should include your responses to Exhibit B Questionnaire.Original, three copies, and electronic copy of entire proposal.MODIFICATION OR WITHDRAWAL OF OFFERSResponses to this RFP may be modified or withdrawn in writing or by fax notice received prior to the date specified for receipt of proposals. The Respondent’s authorized representative may also withdraw the proposal in person, providing his or her identity is made known and he or she signs a receipt for the proposal. Proposals may not be withdrawn after the proposal due date has passed.Modification to or withdrawal of a proposal received after the date specified for receipt of proposals will not be considered.JOINT BIDS/SUBCONTRACTING ISM will not entertain joint bids. Although ISM anticipates that any Respondent submitting a proposal will provide the major portion of the services as requested, subcontracting by the Respondent is acceptable in performing the requirements of this RFP. However, the Respondent must obtain the approval of ISM before subcontracting any portion of the project’s requirements. The Respondent is responsible for the performance of any obligations that may result from this RFP and shall not be relieved by the non-performance of any subcontractor. Any Respondent’s proposal must identify all subcontractors and outline the contractual relationship between the Respondent and each subcontractor. Either a copy of the executed subcontract or a letter of agreement over the official signature of the firms involved must accompany each proposal.For each portion of the proposed services to be provided by a subcontractor, the technical proposal must include the identification of the functions to be provided by the subcontractor and the subcontractor’s related qualifications and experience.The combined qualifications and experience of the Respondent and any or all subcontractors will be considered in ISM’s evaluation. The Respondent must furnish information to ISM as to the amount of the subcontract, the qualifications of the subcontractor for guaranteeing performance, and any other data that may be required by ISM. All subcontracts held by the Respondent must be made available upon request for inspection and examination by appropriate ISM officials and such relationships must meet with the approval of ISM.CONFIDENTIAL INFORMATION Respondents are advised that materials contained in proposals are subject to the Indiana Public Records Act, IC 5-14-3 et seq., and, after the contract award, may be viewed and copied by any member of the public, including news agencies and competitors. Respondents claiming a statutory exception to the Indiana Public Records Act must place all confidential documents (including the requisite number of copies for each proposal) in a sealed envelope clearly marked “Confidential” and must indicate in the transmittal letter and on the outside of that envelope that confidential materials are included. It is advisable that each page within the “Confidential” documentation contain some indication of its confidential nature. The Respondent must also specify which statutory exception provision applies. ISM reserves the right to make determinations of confidentiality. If ISM does not agree that the information designated is confidential under one of the disclosure exceptions to the Indiana Public Records Act, it may either reject the proposal or discuss its interpretation of the allowable exceptions with the Respondent. If agreement can be reached, the proposal will be considered. If agreement cannot be reached, ISM will remove the proposal from consideration for award and return the proposal to the Respondent. ISM will not determine prices to be confidential information.PROPOSAL PROCEDURES ContactsInquiries are not to be directed to any staff or Board member of ISM. Such unauthorized communication(s) may disqualify Respondent from further consideration. ISM reserves the right to discuss any part of any response for the purpose of clarification. Respondents will be given equal access to any communications about the request for proposal between ISM and other Respondents.It is the decision of ISM that no pre-proposal conferences are required for this RFP.Inquiries about the RFPAll inquiries and requests for information affecting this RFP must be submitted in writing by e-mail to:Linae DevaisherChief Financial Officerldevaisher@no later than January 15, 2014 by 5:00 P.M. EST. ISM reserves the right to judge whether any questions should be answered with responses distributed to all prospective Respondents who are known to have received a copy of the original RFP.Contract AwardBased on the results of this process, the qualifying proposal or proposals determined to be the most advantageous to ISM, taking into account all of the evaluation factors, may be selected by ISM for further action, such as contract award. If, however, ISM decides that no proposal is sufficiently advantageous to ISM, ISM may take whatever further action is deemed best in its sole discretion, including making no contract award. If, for any reason, a proposal is selected and it is not possible to consummate a contract with the Respondent, ISM may begin contract preparation with the next qualified Respondent or determine that it does not wish to award a contract pursuant to this RFP.ISM reserves the right to reject any or all proposals received or to award, without discussions or clarifications, a contract on the basis of proposals received. Therefore, each proposal should contain the Respondent’s best terms from a price and technical standpoint. The ISM Board of Directors will determine which proposal(s) offer the best means of servicing the interests of the company. The exercise of this discretion will be final.EXHIBIT AFORM OFCONTRACT FOR SERVICESPROFESSIONAL/PERSONAL SERVICES CONTRACTThis Contract (“this Contract”), entered into by and between Indiana Secondary Market for Education Loans, Inc. (“ISM”) and (the “Contractor”), is executed pursuant to the terms and conditions set forth herein. In consideration of those mutual undertakings and covenants, the parties agree as follows: 1. Duties of Contractor The Contractor shall provide the following services relative to this Contract:Meeting Participation/Availability including Board meetings, investment committee meetings and meetings with ISM staff as neededAdvise on the development, implementation and/or revision of investment policies and guidelines for further review and approval by IFA.Advise on both strategic and tactical investment issues including cash flow/maturity analysis, credit analysis of investment instruments in portfolioProvide monthly, quarterly, and annual reporting on all funds under managementProvide annual asset allocation reviews and recommendations.Advise on proxy policies.Perform trading cost analysis as requested.Advise on portfolio structure (e.g. active vs. passive, investment style mix). The investment consultant must provide its opinion of best practices in the industry with regards to the portfolio structure and take ISM’s specific needs and concerns into consideration and structure to match ISM’s objectives.Evaluate market risk and develop strategies that minimize impact on portfolio and meet established performance benchmarks, recommend corrective action, and participate in implementing the recommendations.Provide research and reports on various investment topics and provide educational presentations of the Board or Staff as requested. Advise on rebalancing policies.Provide assurance of portfolio compliance with applicable policies and laws.Other duties or special projects as necessary. 2. ConsiderationRemuneration under this contract will be paid pursuant to Exhibit ________.3. TermThis Contract shall be effective for a period of _______ (__) years. It shall commence on _______ and shall remain in effect through ________.4. Renewal Option This Contract may be renewed under the same terms and conditions, subject to the approval of the Board of Directors of ISM. The term of the renewed contract may not be longer than the term of the original contract.5. Access to RecordsThe Contractor and its subcontractors, if any, shall maintain all books, documents, papers, accounting records, and other evidence pertaining to all costs incurred under this Contract. They shall make such materials available at their respective offices at all reasonable times during this Contract, and for ______ (__) years from the date of final payment under this Contract, for inspection by ISM or its authorized designees. Copies shall be furnished at no cost to ISM if requested.Upon execution of this Contract, ISM will provide Contractor with a list of authorized persons (“Authorized Persons”) who will be permitted to advise, inform, and direct Contractor on ISM's behalf, together with signature specimens of certain Authorized Persons who may execute specific tasks under this Contract. The list of Authorized Persons and any changes to such list shall be made in writing to Contractor and signed by ISM’s President or his or her designee. Until notified of any such change, Contractor may rely on and act upon instructions and notices received from an Authorized Person identified on the thencurrent list furnished by ISM. In the event ISM fails to designate an Authorized Person, the Contractor shall take direction solely from the President.All authorized instructions shall be in writing and transmitted by first class mail, private express courier, facsimile, or other authenticated electronic transmissions, including email; provided, however, that Contractor may, in its discretion, accept verbal authorized instructions subject to written confirmation of same from such Authorized Person. If Contractor receives instructions or notices from a source other than an Authorized Person, Contractor shall not comply with them and shall immediately notify ISM's President in writing of such unauthorized instructions or notices. 6. Assignment; Successors The Contractor binds its successors and assignees to all the terms and conditions of this Contract. The Contractor shall not assign or subcontract the whole or any part of this Contract without ISM’s prior written consent. The Contractor may assign its right to receive payments to such third parties as the Contractor may desire without the prior written consent of ISM, provided that the Contractor gives written notice (including evidence of such assignment) to ISM thirty (30) days in advance of any payment so assigned. The assignment shall cover all unpaid amounts under this Contract and shall not be made to more than one party.7. Audits The Contractor acknowledges that it may be required to submit to an audit of funds paid through this Contract. Any such audit shall be conducted in accordance with applicable law and audit guidelines specified by ISM. If an error is discovered as a result of an audit performed by Contractor or ISM, or if Contractor becomes aware of any error through any other means, Contractor shall use commercially reasonable efforts to promptly correct such error or to cause the appropriate party to correct such error. 8. Authority to Bind Contractor The signatory for the Contractor represents that he/she has been duly authorized to execute this Contract on behalf of the Contractor and has obtained all necessary or applicable approvals to make this Contract fully binding upon the Contractor when his/her signature is affixed, and certifies that this Contract is not subject to further acceptance by the Contractor when accepted by ISM.9. Changes in WorkThe Contractor shall not commence any additional work or change the scope of the work until authorized in writing by ISM. No claim for additional compensation shall be made in the absence of a prior written approval executed by all signatories hereto.10. Compliance with Laws A. The Contractor shall comply with all applicable federal, state and local laws, rules, regulations and ordinances, and all provisions required thereby to be included herein are hereby incorporated by reference. The enactment of any state or federal statute or the promulgation of rules or regulations thereunder after execution of this Contract shall be reviewed by ISM and the Contractor to determine whether the provisions of this Contract require formal modification.B. The Contractor warrants that it has no current, pending or outstanding criminal, civil, or enforcement actions initiated by the State, and agrees that it will immediately notify ISM of any such actions. During the term of such actions, the Contractor agrees that ISM may delay, withhold, or deny work under any supplement, amendment, change order or other contractual device issued pursuant to this Contract.C. Any payments that ISM may delay, withhold, deny, or apply under this section shall not be subject to penalty or interest under IC § 5-17-5.D. The Contractor warrants that the Contractor and its subcontractors, if any, shall obtain and maintain all required permits, licenses, registrations, and approvals, as well as comply with all health, safety, and environmental statutes, rules, or regulations in the performance of work activities for ISM. Failure to do so may be deemed a material breach of this Contract and grounds for immediate termination and denial of further work with ISM. 11. Condition of Payment All services provided by the Contractor under this Contract must be performed to the ISM’s reasonable satisfaction, as determined at the discretion of the undersigned ISM representative and in accordance with all applicable federal, state, local laws, ordinances, rules and regulations. ISM shall not be required to pay for work found to be unsatisfactory, inconsistent with this Contract or performed in violation of and federal, state or local statute, ordinance, rule or regulation.12. Confidentiality of ISM Information The Contractor understands and agrees that information, data, and materials disclosed to Contractor, by or on behalf of the ISM or any of its, members, participants, employees, customers or third party service providers, may contain confidential and protected information; therefore, the Contractor promises and assures that data, materials, and information gathered, based upon, or disclosed to the Contractor for the purpose of this Contract, will be treated as confidential and will not be disclosed to or discussed with other parties without the prior written consent of the ISM. The parties acknowledge that the services?to be performed by Contractor for ISM under this Contract may require or allow access to data, materials, and information containing Social Security numbers or other personal information maintained by ISM in its computer system or other records. In addition to the covenant made above in this section and pursuant to 10 IAC 5-3-1(4), Contractor and ISM agree to comply with the provisions of IC 4-1-10 and IC 4-1-11. If any Social Security number(s) or personal information (as defined in IC 4-1-11-3) is/are disclosed by Contractor as a result of Contractor’s error, Contractor agrees to pay all commercially reasonable costs associated with the disclosure including, but not limited to, any costs associated with distributing a notice of disclosure of a breach of the security of the system in addition to any other claim and expenses for which it is liable under the terms of the Contract. 13. Conflict of Interest As used in this section:“Immediate family” means the spouse and the unemancipated children of an individual.“Interested party," means:The individual executing this Contract;An individual who has an interest of three percent (3%) or more of the Contractor, if the Contractor is not an individual; orAny member of the immediate family of an individual specified under subdivision 1 or 2.“Department” means the Indiana Department of Administration.“Commission” means Fund Ethics Commission.The Department may cancel this Contract without recourse by the Contractor if any interested party is an employee of ISM.The Department will not exercise its right of cancellation under section B, above, if the Contractor gives the Department an opinion by the Commission indicating that the existence of this Contract and the employment by ISM of the interested party does not violate any statute or rule relating to ethical conduct of ISM employees. The Department may take action, including cancellation of this Contract, consistent with an opinion of the Commission obtained under this section. The Contractor has an affirmative obligation under this Contract to disclose to the Department when an interested party is or becomes an employee of ISM. The obligation under this section extends only to those facts that the Contractor knows or reasonably could know.14. Debarment and SuspensionA. The Contractor certifies by entering into this Contract that neither it nor its principals nor any of its subcontractors are presently debarred, suspended, proposed for debarment, declared ineligible or voluntarily excluded from entering into this Contract by any federal agency or by any department, agency or political subdivision of the State. The term “principal” for purposes of this Contract means an officer, director, owner, partner, key employee, attorney or paralegal providing services to ISM or other person with primary management or supervisory responsibilities, or a person who has a critical influence on or substantive control over the operations of the Contractor. B The Contractor certifies that it has verified the state and federal suspension and debarment status for all lawyers receiving funds under this Contract and shall be solely responsible for any recoupment, penalties or costs that might arise from use of a suspended or debarred subcontractor. The Contractor shall immediately notify ISM if any lawyer providing services under this contract becomes debarred or suspended, and shall, at the ISM’s request, take all steps required to terminate work to be performed by such person under this Contract.15. Default by ISM If ISM, ninety (90) days after receipt of written notice, fails to correct or cure any material breach of this Contract, the Contractor may cancel and terminate this Contract and institute the appropriate measures to collect monies due up to and including the date of termination.16. DisputesA. Should any disputes arise with respect to this Contract, the Contractor and ISM agree to act immediately to resolve such disputes. Time is of the essence in the resolution of disputes. B. The Contractor agrees that, the existence of a dispute notwithstanding, it will continue without delay to carry out all its responsibilities under this Contract that are not affected by the dispute. Should the Contractor fail to continue to perform its responsibilities regarding all non-disputed work, without delay, any additional costs incurred by ISM or the Contractor as a result of such failure to proceed shall be borne by the Contractor.ISM may withhold payments on disputed items pending resolution of the dispute. The unintentional nonpayment by ISM to the Contractor of one or more invoices not in dispute in accordance with the terms of this Contract will not be cause for Contractor to terminate this Contract herein.The parties may mutually agree to submit the dispute to arbitration or mediation for a determination, or otherwise the dispute may be submitted to an Indiana court of competent jurisdiction.17. Force MajeureIn the event that either party is unable to perform any of its obligations under this Contract or to enjoy any of its benefits because of natural disaster or decrees of governmental bodies not the fault of the affected party (hereinafter referred to as a “Force Majeure Event”), the party who has been so affected shall immediately give notice to the other party and shall do everything possible to resume performance. Upon receipt of such notice, all obligations under this Contract shall be immediately suspended. If the period of nonperformance exceeds thirty (30) days from the receipt of notice of the Force Majeure Event, the party whose ability to perform has not been so affected may, by giving written notice, terminate this Contract.18. Funding CancellationWhen the Board of Directors makes a written determination that funds are not appropriated or otherwise available to support continuation of performance of this Contract, this Contract shall be canceled. A determination by the Board that funds are not appropriated or otherwise available to support continuation of performance shall be final and conclusive.19. Governing Laws This Contract shall be construed in accordance with and governed by the laws of the State of Indiana and suit, if any, must be brought in the State of Indiana.20. Indemnification. The Contractor agrees to indemnify, defend, and hold harmless ISM, its agents, officers, and employees from all claims and suits including court costs, attorney’s fees, and other expenses caused by any act or omission of the Contractor and/or its subcontractors, if any, in the performance of this Contract. ISM shall not provide such indemnification to the Contractor.21. Independent ContractorBoth parties hereto, in the performance of this Contract, shall act in an individual capacity and not as agents, employees, partners, joint venturers or associates of one another. The employees or agents of one party shall not be deemed or construed to be the employees or agents of the other party for any purposes whatsoever. Neither party will assume liability for any injury (including death) to any persons, or damage to any property, arising out of the acts or omissions of the agents, employees or subcontractors of the other party.The Contractor shall be responsible for providing all necessary unemployment and workers’ compensation insurance for the Contractor’s employees. The Contractor will also ensure that all lawyers providing services under this contract have adequate malpractice insurance.22. Key Person(s)If both parties have designated that certain individual(s) are essential to the services offered, the parties agree that should such individual(s) leave their employment during the term of this Contract for whatever reason, ISM shall have the right to terminate this Contract upon thirty (30) days prior written notice.In the event that the Contractor is an individual, that individual shall be considered a key person and, as such, essential to this Contract. Substitution of another for the Contractor shall not be permitted without express written consent of ISM.Nothing in sections A and B, above shall be construed to prevent the Contractor from using the services of others to perform tasks ancillary to those tasks which directly require the expertise of the key person. Examples of such ancillary tasks include secretarial, clerical, and common labor duties. The Contractor shall, at all times, remain responsible for the performance of all necessary tasks, whether performed by a key person or others.Key person(s) to this Contract is/are _________________________________________23. Licensing Standards The Contractor and its employees and subcontractors shall comply with all applicable licensing standards, certification standards, accrediting standards and any other laws, rules or regulations governing services to be provided by the Contractor pursuant to this Contract. ISM shall not be required to pay the Contractor for any services performed when the Contractor, its employees or subcontractors are not in compliance with such applicable standards, laws, rules or regulations. If licensure, certification or accreditation expires or is revoked, or if disciplinary action is taken against the applicable licensure, certification or accreditation, the Contractor shall notify ISM immediately and ISM, at its option, may immediately terminate this Contract.24. Merger & Modification. This Contract constitutes the entire agreement between the parties. No understandings, agreements, or representations, oral or written, not specified within this Contract will be valid provisions of this Contract. This Contract may not be modified, supplemented or amended, in any manner, except by written agreement signed by all necessary parties.25. NondiscriminationPursuant to IC 22-9-1-10 and the Civil Rights Act of 1964, the Contractor and its subcontractors shall not discriminate against any employee or applicant for employment in the performance of this Contract. The Contractor shall not discriminate with respect to the hire, tenure, terms, conditions or privileges of employment or any matter directly or indirectly related to employment, because of race, color, religion, sex, disability, national origin or ancestry. Breach of this covenant may be regarded as a material breach of this Contract. The Contractor’s execution of this Contract also signifies compliance with applicable federal laws, regulations and executive orders prohibiting discrimination in the provision of services based on race, color, national origin, age, sex, disability or status as a veteran.26. Notice to Parties Whenever any notice, statement or other communication is required under this Contract, it shall be sent to the following addresses, unless otherwise specifically advised.Notices to ISM shall be sent to:Joseph V. WoodIndiana Secondary Market for Education Loans, Inc.251 North Illinois Street, Suite 400Indianapolis, IN 46204Notices to the Contractor shall be sent to:(Include contact name and/or title, name of vendor, specific address.)27. Order of Precedence; Incorporation by ReferenceAny inconsistency or ambiguity in this Contract shall be resolved by giving precedence in the following order: (1) This Contract, (2) attachments prepared by ISM, (3) the RFQ, (4) Contractor’s response to RFQ, and (5) attachments prepared by the Contractor. All of the foregoing are incorporated fully by reference. All attachments, and all documents referred to in this paragraph are hereby incorporated fully by reference.28. Ownership of Documents and Materials. All documents, records, programs, data, film, tape, articles, memoranda, and other materials not developed or licensed by the Contractor prior to execution of this Contract, but specifically developed under this Contract shall be considered “work for hire” and the Contractor transfers any ownership claim to ISM and all such materials will be the property of ISM. Use of these materials, other than related to contract performance by the Contractor, without the prior written consent of ISM, is prohibited. During the performance of this Contract, the Contractor shall be responsible for any loss of or damage to these materials developed for or supplied by ISM and used to develop or assist in the services provided while the materials are in the possession of the Contractor. Any loss or damage thereto shall be restored at the Contractor’s expense. Full, immediate and unrestricted access to the work product of the Contractor during the term of this Contract shall be available to ISM.29. ReportsThe Contractor shall submit reports under this Contract to the ISM upon request, and in no event less than as of each month end. The report shall be written. The report shall be in a form agreed to between the ISM and Contractor.At ISM’s request and at mutually agreed upon times, Contractor shall meet with the ISM to review Contractor's performance. Contractor shall be available to answer questions by ISM’s Board of Directors or President from time to time as needed without additional charge30. PaymentsAll payments shall be made in arrears in conformance with ISM fiscal policies and procedures and, as required by law. No payments will be made in advance of receipt of the goods or services that are the subject of this Contract. 31. Penalties/Interest/Attorney’s Fees ISM will in good faith perform its required obligations hereunder and does not agree to pay any penalties, liquidated damages, interest or attorney’s fees, except as permitted by Indiana law, in part, IC 5-17-5, IC 34-54-8, and IC 34-13-1.Notwithstanding the provisions contained in IC 5-17-5, any liability resulting from the ISM’s failure to make prompt payment shall be based solely on the amount of funding originating from ISM and shall not be based on funding from federal or other sources.32. Severability The invalidity of any section, subsection, clause or provision of this Contract shall not affect the validity of the remaining sections, subsections, clauses or provisions of this Contract.33. Substantial Performance This Contract shall be deemed to be substantially performed only when fully performed according to its terms and conditions and any written amendments or supplements.34. Taxes ISM is exempt from most Indiana and local taxes and many federal taxes. ISM will not be responsible for any taxes levied on the Contractor as a result of this Contract.35. Termination for ConvenienceThis Contract may be terminated, in whole or in part, by ISM whenever, for any reason, ISM determines that such termination is in its best interest. Termination of services shall be effected by delivery to the Contractor of a Termination Notice at least thirty (30) days prior to the termination effective date, specifying the extent to which performance of services under such termination becomes effective. The Contractor shall be compensated for services properly rendered prior to the effective date of termination. ISM will not be liable for services performed after the effective date of termination. The Contractor shall be compensated for services herein provided but in no case shall total payment made to the Contractor exceed the original contract price or shall any price increase be allowed on individual line items if canceled only in part prior to the original termination date. 36. Termination for Default With the provision of thirty (30) days notice to the Contractor, ISM may terminate this Contract in whole or in part if the Contractor fails to:Correct or cure any breach of this Contract;Deliver the supplies or perform the services within the time specified in this Contract or any extension;Make progress so as to endanger performance of this Contract; orPerform any of the other provisions of this Contract.If ISM terminates this Contract in whole or in part, it may acquire, under the terms and in the manner ISM considers appropriate, supplies or services similar to those terminated, and the Contractor will be liable to ISM for any excess costs for those supplies or services. However, the Contractor shall continue the work not terminated.ISM shall pay the contract price for completed supplies delivered and services accepted. The Contractor and ISM shall agree on the amount of payment for manufacturing materials delivered and accepted and for the protection and preservation of the property. Failure to agree will be a dispute under the Disputes clause. ISM may withhold from these amounts any sum ISM determines to be necessary to protect ISM against loss because of outstanding liens or claims of former lien holders.The rights and remedies of ISM in this clause are in addition to any other rights and remedies provided by law or equity or under this Contract.Termination Notwithstanding anything to the contrary, this Contract may be terminated by the ISM, in whole or in part, for any reason, by delivery of a notice of termination at least five (5) days prior to the termination effective date. The Contractor shall be compensated for services rendered prior to the effective date of termination. ISM will not be liable for services performed after termination. The Contractor shall be compensated for services herein provided, but in no case shall total payment made to Contractor exceed the original contract price plus changes approved or directed in writing by ISM. In no event shall ISM's termination of the Contract under this section be deemed a waiver of either party’s right to make a claim against the other party for damages resulting from any default by such other party which occurred prior to the termination effective date. Additionally, ISM may terminate this contract immediately in the event that ISM, in its sole discretion, considers such action necessary to protect the plan or assets in the trust. In the event of any termination of this contract, all terms and conditions herein shall continue to apply through the termination effective date and through any period following such date during which Contractor shall continue to perform the services required under this Contract, in order to complete any transactions pending on the termination effective date and to facilitate an orderly transition to a successor contractor ("Transition Period"). Such Transition Period shall not exceed thirty (30) days after the termination effective date. If ISM terminates this Contract, unless otherwise expressly directed by ISM, Contractor shall take all necessary steps to stop services under this Contract on the termination effective date.Upon any termination of this Contract by ISM and to the extent directed in writing by ISM, Contractor shall continue to serve as a contractor hereunder at the thenexisting compensation level for the duration of the Transition Period. After the additional services have been performed, and the Transition Period is completed, Contractor, subject to the terms and conditions of this Contract, shall be compensated for the Transition Period, if any, at its thenexisting compensation level. Contractor shall cooperate with ISM in good faith to affect a smooth and orderly transfer of such services and all applicable records by the termination effective date. Upon termination of this contract, Contractor shall retain all ISM records in accordance with the record retention provisions set forth in the Access to Records section of this Contract.38. Travel. No expenses for travel will be reimbursed unless specifically permitted under the scope of services or consideration provisions. Expenditures made by the Contractor for travel will be reimbursed at the current rate paid by ISM and in accordance with ISM Travel Policies and Procedures. Out-of-state travel requests must be reviewed by ISM for availability of funds and for appropriateness per Circular guidelines. 39. Waiver of Rights No right conferred on either party under this Contract shall be deemed waived, and no breach of this Contract excused, unless such waiver is in writing and signed by the party claimed to have waived such right.40. Work Standard. The Contractor shall execute its responsibilities by following and applying at all times the highest professional and technical guidelines and standards. If ISM becomes dissatisfied with the work product of or the working relationship with those individuals assigned to work on this Contract, ISM may request in writing the replacement of any or all such individuals, and the Contractor shall grant such request.Insurance A. The Contractor shall secure and keep in force during the term of this Contract, and for any period of time Contractor is obligated to provide services following the expiration of this Contract pursuant to section 13.1 herein, the following insurance coverage, covering the Contractor for claims which may arise out of or result from this Contract:Commercial general liability, including contractual coverage, and products or completed operations coverage (if applicable), with minimum liability limits of $700,000 per person and $5,000,000 per occurrence unless additional coverage is required by ISM.Automobile liability with minimum liability limits of $700,000 per person and $5,000,000 per occurrence.The Contractor shall provide proof of such insurance coverage by tendering to the undersigned ISM representative a certificate of insurance prior to the commencement of this Contract and proof of workers compensation coverage meeting all statutory requirements of IC 22-3-2. In addition, proof of an “all states endorsement” or evidence of an alternative plan of benefits as permitted by law covering claims occurring outside the State is required if any of the services provided under this Contract involve work outside of Indiana.B. The Contractor’s insurance coverage must meet the following additional requirements:The insured must have a certificate of authority issued by the Indiana department of Insurance.Any deductible or self insured retention amount or other similar obligation under the insurance policies shall be the sole obligation of the Contractor.ISM will be defended, indemnified and held harmless to the full extent of any coverage actually secured by the Contractor in excess of the minimum requirements set forth above. The duty to indemnify ISM under this Contract shall not be limited by the insurance required in this Contract.The insurance required in this Contract, through a policy or endorsement(s), shall include a provision that the policy and endorsements may not be canceled or materially modified without thirty (30) days prior written notice to the undersigned ISM.Failure to provide insurance as required in this Contract may be deemed a material breach of Contract entitling ISM to immediately terminate this Contract.Investigations and Complaints To the extent permitted by applicable law, Contractor shall promptly advise ISM in writing of any extraordinary investigation, examination, complaint, disciplinary action or other proceeding relating to or affecting Contractor's ability to perform its duties under this Contract which is commenced by any of the following: (1) any Attorney General or any regulatory agency of any state of the United States; (2) any U.S. Government department or agency; or (3) any governmental agency regulating business in any country in which Contractor is doing business. Except as otherwise required by law, ISM shall maintain the confidentiality of all such information until investigating entity makes the information public.43. Continuity of ServicesA. The Contractor recognizes that the service(s) to be performed under this Contract are vital to ISM and must be continued without interruption and that, upon Contract expiration, a successor, either ISM or another contractor, may continue them. The Contractor agrees to: 1. Furnish phase-in training, and 2. Exercise its best efforts and cooperation to effect an orderly and efficient transition to a successor. B. The Contractor shall, upon ISM's written notice: 1. Furnish phase-in, phase-out services for up to sixty (60) days after this Contract expires, and 2. Negotiate in good faith a plan with a successor to determine the nature and extent of phase-in, phase-out services required. The plan shall specify a training program and a date for transferring responsibilities for each division of work described in the plan, and shall be subject to ISM’s approval. The Contractor shall provide sufficient availability during the phase-in, phase-out period to ensure that the services called for by this Contract are maintained at the required level of proficiency. C. The Contractor shall be reimbursed for all reasonable phase-in, phase-out costs (i.e., costs incurred within the agreed period after contract expiration that result from phase-in, phase-out operations). D. Except when the Contract terminates by expiration of its term, Contractor shall give thirty (30) days advance notice of intent 44. Employment OptionIf ISM determines that it would be in ISM’s best interest to hire an employee of the Contractor, the Contractor will release the selected employee from any non-compete agreements that may be in effect. This release will be at no cost to ISM or the employee. 45. Non-Collusion and AcceptanceThe undersigned attests, subject to the penalties for perjury, that he/she is the Contractor, or that he/she is the properly authorized representative, agent, member or officer of the Contractor, that he/she has not, nor has any other member, employee, representative, agent or officer of the Contractor, directly or indirectly, to the best of the undersigned’s knowledge, entered into or offered to enter into any combination, collusion or agreement to receive or pay, and that he/she has not received or paid, any sum of money or other consideration for the execution of this Contract other than that which appears upon the face of this Contract.In Witness Whereof, Contractor and ISM have, through their duly authorized representatives, entered into this Contract. The parties, having read and understood the foregoing terms of this Contract, do by their respective signatures dated below hereby agree to the terms thereof.(Contractor:)By:Printed Name:Title:Date:(ISM):By:Printed Name:Title:Date:EXHIBIT B QUESTIONNAIREIndiana Secondary Market for Education Loans, Inc. (ISM)Investment Advisory ServicesA. Organizational SummaryPlease give a brief history of the firm including the year organized, the year the firm began providing investment consulting services to U.S. tax-exempt clients, and the nature of the firm’s ownership and specific details with regard to any affiliated companies or joint ventures.Please provide the location and function of each of your firm’s offices, include the number of professionals at each office and which services are provided by each office. Indicate which office would service this account.Please list your firm’s lines of business and the approximate contributions of each business to your organization’s total revenue. If you are an affiliate or subsidiary of an organization, what percentage of the parent firm’s total revenue does your subsidiary or affiliate generate?Please provide details on the financial condition of your firm. Most recent annual reports filed with the SEC will be acceptable, but any recent material changes should be included. Are you registered with the SEC or a state securities regulator as an investment adviser? If so, please provide all the disclosures required under those laws (including Part II of Form ADV). List the owners of the firm from largest to smallest percentage ownership. If any near-term changes to the firm’s organizational structure are anticipated please describe. Please discuss the overall business objectives of your firm with respect to future growth. Comment on any present or planned areas of emphasis over the near future. Be sure to include in your response:Total assets or client relationships that will be accepted,Maximum limits on asset amounts or number of clients per consultantPlans to develop and expand resources, merge or acquire other firms, spin off subsidiaries. Over the past five years, has your organization or any of its affiliates or parent, or any officer or principal been involved in any business litigation or other legal proceedings related to your consulting or investment activities? If so, provide a brief explanation and indicate the current status.Is your firm, its parent or affiliate a broker/dealer? Does your firm trade for client accounts through this broker/dealer? If so, to what extent?Does your firm provide investment management services to U.S. tax-exempt investors? If so, to what extent?B. Assets AdvisedHow many clients currently employ your firm for investment services? Please provide a table listing all current clients for whom you provide investment consulting services along with the following information:Name/Type of client (public plan, corporate plan, endowment, fund of hedge funds, etc.)Total size of the fundAssets on which you provide consulting servicesLength of service to themBrief one-sentence description of the type of services you provide for each clientNature of the relationship (retainer or project-based)Indicate those funds that have renewed your contract in the past 12 months.Provide a listing of clients lost and gained during the past three years, including asset size, type of plan and length of relationship for lost clients. Also provide reasons for each client that was lost. Indicate if the primary and backup consultant identified above was the primary consultant for either the clients gained or lost. What is the average client to consultant ratio? What is the maximum number of clients assigned to a consultant? What policies are in effect to control the workload as it relates to the number of clients served by the consultant? How do you measure success for clients? Where is your firm most likely to add value for ISM?In your view, how should a client measure its investment consulting firm’s “performance?” Please explain. How does the firm measure its own performance? What are the lessons your firm has learned from the market turmoil of 2008/2009? Give examples of explicit recommendations you have given to current clients during this period and describe the outcomes. Were these consultant or client initiated?C. PersonnelIdentify the different classification of employees within the firm and the totals for each classification (i.e. consultants, research analysts, etc.)Identify and provide biographies of the primary and backup consultant who would be assigned to this engagement. How many clients do these consultants currently serve? Who are the clients these consultants currently serve? Which of these consultants would attend the ISM Board meetings? Describe what incentives (i.e., equity ownership, profit sharing, etc.) are used to retain key employees. What other programs do you have in place to retain key staff? Please be detailed and specific.Please describe your firm’s back-up procedures in the event the primary consultant assigned to this account should leave the firm or is not available to attend a scheduled meeting.Have any senior personnel left the firm in the last three years? If so, please indicate when and why. In which areas/products were they involved? For personnel who have left, indicate job titles, years with the firm, when they left, and who replaced them.Please describe your internal training procedures for consultants, research analysts, and performance measurement specialists.D. Asset Allocation Model / IssuesDescribe your firm’s capabilities in providing asset allocation consulting services to ISM.How often does your firm recommend a formal review of asset allocation studies? What methodologies do you use to construct the allocation (mean-variance, other)? Do you have any plans to expand your approach to asset allocation over the next several years?Describe your firm’s capital markets model and methodology. Is the model proprietary, or does your firm rely on an outside vendor’s model? If your firm relies on an outside vendor, indicate the name of the vendor, name of the model, etc.What trends do you foresee with each of the asset classes going forward?Discuss your firm’s view and methodology for incorporating liabilities (uses) into this process. What are the pros/cons?How does your firm develop inputs to the asset allocation model? How frequently do you update these models?Does your firm develop standard inputs to the asset allocation model for all clients? Can these inputs be customized based upon individual client views, needs or requirements?Provide your firm’s current inputs to the asset allocation model. Include at a minimum expected returns, standard deviations and correlation coefficients for U.S. equities (large caps, small caps, total market), international equities (developed and emerging markets), global equities, U.S. bonds, U.S. TIPS, international bonds, treasury bills, real estate and any other significant asset classes for which your firm has developed inputs.What is the range of target allocations which you are currently recommending to similar clients?Describe your firm’s view on risk budgeting? Have you created a risk budget model that is utilized by your clients?E. Manager SearchesDescribe in detail your manager database and search process. Include the criteria used to make manager recommendations.Describe how firms get into your database?Have your most recent manager searches resulted in the same manager being selected for multiple clients? Provide the results (table format) for the three most recent manager searches for U.S. equities, non-U.S. equities, fixed-income and real estate managers. At a minimum identify the finalist candidates and indicate which firm was selected.Will your firm be the broker of record or will a manager or sub contractor be utilized for the actual transactions?F. Performance Measurement and Portfolio AnalyticsDescribe the content and format of your firm’s quarterly performance reports for the total fund, major asset classes, and individual investment managers. Provide a sample report for one of your firm’s clients that are structured similarly to ISM.Can these reports be customized to accommodate ISM’s information needs? Are there charges for these additional information requests? Within what time frames can these requested changes be implemented?What is the anticipated turnaround time for each report (number of calendar days after returns are submitted to your firm)?Describe your firm’s view on the most relevant methods of evaluating performance.Describe your firm’s performance attribution capabilities. Include a breakdown of domestic and international performance attribution capabilities. Describe your firm’s fixed income attribution model.Are your performance reports and attribution analysis tools available on-line?G. Manager EvaluationsDescribe your firm’s philosophy with respect to manager evaluations (formal review, ad hoc, etc). What are key factors that you rely on in assessing manager skill? What do you consider to be the most significant quantitative and qualitative measures?Describe your firm’s manager rating system. Include in your discussion the minimum requirements for a firm to become rated and how often firm ratings are re-evaluated. How often are on-site due diligence visits conducted with your client’s managers?If you became convinced that a particular change was necessary to the structure, management or objective of one of your client’s existing investments or investment managers, what process would you follow in promoting adoption of the change?State your willingness to make specific investment manager hiring recommendations to your clients. Give a specific example of an investment recommendation provided to a client over the last 12 months. State your willingness to recommend termination of investment managers that have performance or organizational issues. Give a specific example of a manager relationship you recommended be terminated for one of your clients in the last 12 months. H. Alternative Assets / Passive ManagementDiscuss the role of alternative assets (including real estate) within a portfolio.Identify your firm’s view of appropriate and inappropriate alternative investments for this type of mandate.Discuss your firm’s expertise with respect to alternative assets.Discuss your firm’s weaknesses with respect to alternative assets. Do you use outside services/consultants for these areas and if so, who and why?Describe your firm’s view of the role of passive management (by asset class) in your client’s portfolio. Research CapabilitiesPlease discuss in detail what you consider to be your firm’s consulting specialties, strengths and limitations.What would you recommend for the structure of our public equity allocation?Discuss your firm’s view of portable alpha strategies. What other non-traditional strategies have your recommended to your clients?Describe your firm’s commitment to research and system enhancements. Discuss the structure of your firm’s research department. Include a discussion of staff’s compensation and areas of focus or expertise.Provide three samples of original research reports recently issued by your firm. (Do not include market commentary)List notable publications that have included your firm’s research. J. Other InformationDescribe your firm’s capabilities in providing educational opportunities for trustees and staff. Does your firm hold an annual investment conference for its clients?For each of the various asset classes, discuss the strengths/weaknesses of the following investment decision making structures: authority delegated to the consultant, authority delegated to staff, or authority retained by Board, in sourcing and evaluating opportunities. Is there another decision making structure that you would recommend?Describe your firm’s ability to support issues related to securities lending and commission recapture.What does your firm recommend to clients for hedging currency exposure?State your opinion of overlay/derivative strategies and how you would recommend a client use them to reduce risk in the portfolio. Give at least 3 different examples of times you have advised clients to implement such strategies.Outline the risk monitoring system that you provide. How do you propose measuring exposures in the portfolio? How actively do you propose managing risk exposures in the portfolio?Do you or a related company have relationships with money managers that you recommend, consider for recommendation, or otherwise mention to the plan for consideration? If so, describe those relationships?Does the firm have any financial relationships with outside broker/dealers, fund of funds, or other related party? What is the relationship? Does the firm provide such services internally? Indicate the percentage of the firm’s gross and net revenue that is derived from such relationships, if any.Do you have any policies or procedures to address conflicts of interest or to prevent these payments or relationships from being considered when you provide advice to your clients?If you allow plans to pay your consulting fees using the plan’s brokerage commissions, do you monitor the amount of commissions paid and alert plans when consulting fees have been paid in full? If not, how can a plan make sure it does not over-pay its consulting fees? If you allow plans to pay your consulting fees using the plan’s brokerage commissions, what steps do you take to ensure that the plan receives best execution for its securities trades?If you are hired, will you acknowledge in writing that you have a fiduciary obligation as an investment adviser to the plan while providing the consulting services we are seeking?What percent of your clients utilize money managers, investment funds, brokerage services or other service providers from whom you receive fees? Does the firm (including key individuals employed by the firm) receive revenue from investment management firms for services other than advising such firms regarding their pension plans? Such revenues would include strategic consulting, conferences or institute fees or fees to be included in databases, among others. Identify the amount and percentage of the firm’s gross and net revenue that is derived from such sources, if any. Does the firm receive any products or services from investment managers, placement agents, or other third party? Identify each such service and whether compensation is paid, and if paid, the amount of compensation paid from each manager.Does the firm hold or sponsor investment manager or client conferences? If yes, describe such events occurring in the past year, their usual frequency. Has the firm, its principals, or any affiliate ever: (a) been the focus of a non-routine Securities and Exchange Commission (SEC) inquiry or investigation or a similar inquiry or investigation from any similar federal, state, or self regulatory body or organization, (b) been a party to any litigation concerning fiduciary responsibility or other investment related matters, or (c) submitted a claim to your errors & omission, fiduciary liability and/or fidelity bond insurance carrier(s)? If yes to any, please provide details. Is there any expectation of future litigation? If yes, please describe.Does the firm have a written code of conduct or set of standards of Professional Conduct? If so, how is employee compliance monitored?List and describe any relationships and/or contacts the firm has had with any ISM Board member and/or ISM staff within the last twelve months. Provide three (3) references that we may contact (see Exhibit E)K. Fee ProposalProvide a fee proposal for the services outlined in this RFP. Please provide fee proposals for:Full scope of services referenced above, and Manager selection service only.Are you willing to guarantee your fees for a specific period of time?Are your fees negotiable?What other costs might be incurred that we should be aware of?Include the names and phone numbers and email addresses of personnel of your organization authorized to negotiate the proposed contract.The Proposer may also provide any additional information pertaining to its proposal that may be beneficial to its submission, including a description of any special services your firm provides that may not be offered by other firms.EXHIBIT CREFERENCE LISTList similar projects, with completion dates. Attach additional sheets if necessary. Client Name: Name of Contact Person: Telephone: Email Address of Contact Person: Project Description: Dates Worked: Client Name: Name of Contact Person: Telephone: Email Address of Contact Person: Project Description: Dates Worked: Client Name: Name of Contact Person: Telephone: Email Address of Contact Person: Project Description: Dates Worked: Client Name: Name of Contact Person: Telephone: Email Address of Contact Person: Project Description: Dates Worked: ................
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