Monterey Park City Council
March 18, 2026

Exhibit C – Scope of Services | 82 |
You can help reduce the risk of fraud or compromised data by separating duties, accounts and approval workflow. Your security administrators are the only individuals able to assign users with transaction initiation privileges.

Standard security administrator model

Figure 14
*The City may waive the requirement that a security administrator cannot make a change to their own profile providing a second security administrator approves those changes.

Additionally, our online portal automatically prevents a single user from performing all actions (create, approve and release) on a single payment, even if the user is entitled to create, approve and release. At the point of release, the application verifies that two distinct users are involved in the payment life cycle, which includes the creation, approval and release of the payment, as well as the creation, approval and activation of any underlying template. Even if users have all three entitlements, they will still not be able to take all three actions on a payment on their own.
e. What is the cutoff time for same‐day wire transfers? The cutoff times for wire transfers originated via the internet and File Transmission Payments are as follows:
● Fedwire: 3:15 p.m. PT
● Book transfer/internal: 4:15 p.m. PT
● Drawdown (via Fedwire): 2:30 p.m. PT
f. Describe the ability to create and store recurring and future–dated wire instructions/templates, including the maximum retention period for future-dated transactions, timeline, and related charges? J.P. Morgan Access offers two kinds of templates to support the setup of repetitive wires.

Standard templates (City-verified, repetitive instructions) are controlled by you and are immediately available for use once approved and activated by your authorized users. You must supply the amount and value date, and may change fields that are eligible to be edited, such as payment details.

Exhibit C – Scope of Services | 83 |
Enhanced Templates are setup and approved by the City but have the added feature of being verified and activated by the bank prior to use. Bank activation of these templates is usually a 24-48 hour turnaround, after which the template is available for use. With enhanced templates you supply only the amount and value date. Depending on the payment method and the account, you can also enter between one to four lines of payment details, as well as optional information on regulatory reporting and instruction code tabs.

Our payment processing system accepts payment instructions up to 365 days prior to value date and warehouses these transactions in our systems until the value date specified. Warehousing is not limited to certain types of transactions.
g. Describe the bank’s procedure for providing payment confirmation information (e.g., reference numbers) upon acceptance and execution of the wire transfer request.

Here’s our procedure for providing payment confirmation information.

J.P. Morgan Access
The online portal provides transaction reference numbers when the payment instruction is released. Our highly automated systems release transactions minutes after input. The full wire execution and confirmation process, including release to the clearing system, receipt of a clearing system reference number, and making this reference number available to the City, is completed within minutes of initiation.

Once the transaction has been processed and pushed to the respective clearing, a unique transaction reference number is automatically generated by our internal processing system. Reporting is made available to you through the online portal, providing summary-level information for all transactions initiated and their status (Entered, Approved and Released), based on a specified date range.

File Transmission
After successfully transmitting the payment file via File Transmission Payments, you will receive a confirmation report from us containing the status of payment instructions, either accepted for processing or rejected. This confirmation report contains the Client Confirmation Number (CCN) for each accepted transaction and reason for any transaction that is rejected.

The clearing reference number (e.g., fed reference number) is available through J.P. Morgan Access. h. Describe the bank’s policy for handling a failed wire transfer. How and when would the City be notified?
For wires initiated by the City, there are several ways we can notify you of a failed item, depending on the stage in the process when the failure is established.

We conduct several validation steps during the payment initiation process, starting with the actual payment input process. Through the electronic banking system, required fields must be completed before release.

From this step onward, we perform validation checks against data files submitted to the bank.

Exhibit C – Scope of Services | 84 |
If a payment is returned from the receiving bank, you’ll see a credit posted to your account through information reporting and a notification via J.P. Morgan Access Notifications, if subscribed.

The Transaction Services feature via J.P. Morgan Access can be used to trace a wire or investigate a wire.

Any failure will be immediately acknowledged, whether through an electronic notification process or if your designated CSA, Analicet Burciaga, contacts you to discuss the transaction. We also manually review returned payments to see if it’s possible to correct the payment format.

In the unlikely event of our processing error, we’ll arrange for proper value of the funds transfer without cost to you.

13. Lockbox (Wholesale and Retail)
The City currently utilizes a utility lockbox to receive water and sewer payments. The Lockbox average weekly amount is approximately $81,000 and the volume is approximately 361 per week. Payments are 100% physical checks or money orders.

As checks remain viable within the public sector, many organizations still face challenges with manual processes and inefficiencies.

Our Wholesale Lockbox, a solution powered by Receivables Online, allows you to direct payments to one of our local processing centers where payments are automatically collected, processed and deposited into your J.P. Morgan bank accounts.

We can help the City post receivables quickly, reduce exceptions and strengthen your cash position.

Benefit from our investments in equipment refreshes with artificial intelligence and machine learning technology to minimize exception processing.

OUR EXPANSIVE NETWORK 9,000+ clients served across North America 25,000+ active lockboxes $550+ billion funds processed annually

Exhibit C – Scope of Services | 85 |
A nationwide network of processing sites
We own and operate our full-service, nationwide lockbox network of processing sites with fully automated wholesale and scannable services. We offer a full range of wholesale lockbox services, using a common nationwide network platform, in:
● Binghamton, New York
● Chicago, Illinois
● Dallas, Texas
● Detroit, Michigan
● Los Angeles, California
● New York, New York
● Phoenix, Arizona
● Toronto, Canada (mail receipt hub only)
We recommend our Los Angeles, California site for your processing needs.

A proprietary, online receivables tool
You can report, enrich and reconcile your lockbox payments alongside other payment channels with Receivables Online. Our Receivables Online browser provides same-day decisioning and an account reconciliation tool to combine advanced image and data capture technology. It delivers all you need in a single online repository to:
● Access images and information related to payments you receive ● Reference ACH or wire payments you receive, as an option ● Review images in our 10-year archive for all your lockboxes in our network sites using only one client ID Easy navigation, advanced queries, payment alerts and workflow tools give your accounts receivable, credit and customer service staffs the ability to make informed business decisions quickly and without handling paper documents.

Our commitment to quality
In-depth knowledge of client requirements and a commitment to high-quality execution drive our delivery of superior financial services and solutions.

Our quality assurance practices include a disciplined approach to:
● Performance metrics and satisfaction indicators that are linked to client priorities ● Employee merit-based performance, reward and recognition programs

Exhibit C – Scope of Services | 86 |
Please describe:
a. The deadline and format of data transmissions.

We provide data transmissions between the hours of 5:00 a.m. and 10:00 p.m. PT at a pre-designated, mutually agreed-upon time. We generally request a two hour transmission window.

Our standard formats include:
● The ANSI X.12 823 and 820 formats
● All standard variations of the 80-character-per-record lockbox BAI2 format accepted by major accounts receivable software vendors such as Oracle, SAP (their lockbox BAI1 and BAI2 formats) and PeopleSoft (their 102-character variation)
Sample standard BAI2 formats are provided in the Lockbox BAI Data Transmission Guidelines and Formats Description document in Appendix 8. Proprietary formats can be accommodated as well. A one-time programming charge may be assessed when significant format customization is required. b. Lockbox address and location requirement.

We recommend you use our Los Angeles, CA lockbox location.

Due to the sensitive nature of the information, the firm does not release specific details on the location of primary, back-up data centers and processing sites. However, if selected, we are happy to offer a tour of our Los Angeles lockbox site to the City.
c. Breakdown of wholesale versus retail processing.

We process both wholesale and retail payments using the same equipment in the lockbox department. There is no priority between wholesale or scannable items. However, lockboxes with a large volume of payments with coupons may be processed on separate equipment.

The monthly averages at our Los Angeles lockbox are included in the table below.

Los Angeles Wholesale lockbox monthly averages
Items 708,422 Document images 1,849,159
Dollars deposited (000) $3,528,546 Number of active lockboxes 2,480 Keystrokes 24,627,871 Number of clients 1,352
d. Locations of processing centers.

We own and operate our full-service, nationwide lockbox network of processing sites with fully automated wholesale and scannable services. J.P. Morgan offers a full range of wholesale lockbox services, using a common nationwide network platform, in:

Exhibit C – Scope of Services | 87 |
● Binghamton, New York
● Chicago, Illinois
● Dalles, Texas
● Detroit, Michigan
● Los Angeles, California
● New York, New York
● Phoenix, Arizona
We recommend our Los Angeles, California site for your processing needs. e. Handling of items not able to be processed or return items.

We maintain a comprehensive database that details your return item handling instructions, which may vary by lockbox even if multiple lockboxes share the same depository account. During the check clearing process, deposited checks may be returned by the paying bank for a number of reasons, such as: non-sufficient funds (NSF), uncollected funds, stop payment or account closed. Most returned items are routed through the Federal Reserve System to our regional return processing areas.

After processing your return items per your handling instructions, the returns system will generate a debit to your designated demand deposit account (DDA). The actual return items are matched to a return item advice and mailed to you via U.S. First Class Mail to the DDA statement address. The return advice lists the dollar amount and the reason for return for each item.

Items being redeposited are assigned availability and re-entered into the clearing system. Typically, redeposits are not posted to your DDA and do not appear on the return item advice.

We can provide a variety of optional services to meet the City’s needs for handling return items that include Receivables Online for return item reporting and the option to automatically redeposit returned items. During your account implementation, we will work with you to set up solutions to meet your needs.

Receivables Online
The Receivables Online check return service provides timely notification of return activity for U.S. lockboxes, allowing the City to follow up promptly with delinquent customers and update your accounting records. ● Both redeposited items and final returns are available on the business day following a return item's processing date.
● For all final returns, the original item is updated with a status marker to indicate that the item was returned. This information is available for 10 years, with long-term storage. ● The Return Item Summary report helps the City analyze patterns and trends of delinquent payers. ● An alert can be set up to automatically notify the City of return activity. ● A monthly return item maintenance fee applies per lockbox. We assess a detail reporting fee per return item in addition to regular return item handling fees.

Exhibit C – Scope of Services | 88 |
f. Remittance document layout requirements.

During the implementation process we will test your remittance coupon. Recommendations would be made before testing with our requirements outlined in the coupon specification document. g. Transmission requirements.

For wholesale lockboxes with data transmissions in a standard file format, the minimum lead time is approximately 30 business days (6 weeks) after all processing and data format requirements are finalized.

Provision of customized formats or data edits will extend the timeline by two to three weeks. Scannable wholesale lockboxes require approximately 60 business days (12 weeks) once the data file transmission requirements are confirmed and sample coupons are received. h. Treatment of exception items.

Decision Manager is a value-added service for Wholesale and Scannable Lockbox. The service enables the City to identify and take action on transactions in your lockbox that trigger exceptions. You set up specific processing rules for your transactions; any exceptions are routed to a decisioning queue in Receivables Online, where the City can select to accept, reject or reprocess them.

Eligible transactions include:
● Unbalanced transactions
● Checks without coupons
● Stop/Go file exceptions
● Missing or invalid invoice information
● Other exception items matching client-specific pre-established criteria

Exhibit C – Scope of Services | 89 |
How Decision Manager works

Figure 15
i. Imaging capabilities.

We offer two lockbox imaging services:
● Image transmission: An image file that can be imported into an in-house image system ● Receivables Online: A digital receivables management platform accessed through our online portal Clients who have not invested in an in-house image application have elected to use the online service. For those clients with an in-house image system, receiving a daily file of images and an associated index file that is then incorporated into their internal system has made the image transmission method a better alternative.

Receivables Online
Receivables Online (RO) is a digital receivables management platform and account reconciliation solution accessed through J.P. Morgan Access®. It combines advanced image and data capture technology to deliver a consolidated view of current-day and long-term remittance data.

You can also use simple navigation, advanced queries, payment alerts, and workflow tools to give your accounts receivable, credit and customer service staff the ability to make informed business decisions quickly without handling paper documents.

In addition to having access to view receivables information online, you can also establish file integration with your system of record to import data for cash application and reconciliation reporting.

Exhibit C – Scope of Services | 90 |
j. Conversion of consumer checks to ACH payments.

We provide conversion of consumer checks to ACH debits, but not within the wholesale lockbox environment, where most payments are business to business.
k. Disposition of documents (including imaging capabilities and truncation).

Our lockbox services offer comprehensive imaging capabilities and document disposition processes designed to meet your needs. We offer a long-term image archive where images are stored for 10 years. duplex imaging (imaging of the front and back of the documents) of invoice/accompanying remittance document is available for lockboxes.

Our standard product offering is to image checks, remittance documents and no-check mail for our clients and provide online access via Receivables Online. We retain all paper for 21 calendar days, after which it is destroyed. Envelopes are usually discarded, but must be imaged if the City requests postmark data entry.

Remittance Association (RA) is an optional value-added service of Receivables Online, that provides reconciliation between ACH and wire payment activity with remittance advices that are received through a separate channel via email. The remittance advices created from client emails and sent to their unique J.P. Morgan email box will be associated to the payment transactions and delivered to the client via data transmission to their ERP.

Consolidate incoming receivables of checks, ACH, J.P. Morgan Real-Time Payments and wires

Figure 16

Receivables Online lets the City view transaction data and images that are stored on a server at the bank.

You access the server via the internet, using a standard web browser. Your lockbox images are available after each transaction is completed.

Further, electronic payments are available on a scheduled basis. Images are retained in a high-speed, online storage archive for more than a month. The City may also choose to use our 10-year archive solution, on the same web browser, for your long-term retention needs.

Exhibit C – Scope of Services | 91 |
Receivables Online is powered by J.P. Morgan Access, which allows the application to act as your one-stop shop for all of your reporting needs.
l. Is there a “low volume” surcharge? Please explain.

No, there is no surcharge for low volume.

Pricing offered is based on the City’s relationship with J. P. Morgan and projected transactional volumes.

Please see our Cost Proposal for pricing.

14. Intra‐bank Account Transfers
a. Describe the process of initiating an intra‐bank account transfer.

The City can use Account Transfer to transfer funds between U.S. J.P. Morgan bank accounts. Funds move in real-time between accounts. Account transfers are executed against the available balance.

Cutoff time for same-day transaction posting is 8:00 p.m. PT; any transaction initiated after this time will roll the value date and post on the following business day.
b. Does the bank offer dual control release options (secondary approval levels) for electronically- initiated transfers? If so, describe.

Yes, the bank offers dual control release options for electronically-initiated transfers.

Our online platform offers you comprehensive and configurable user entitlements, limits and approval workflow providing you with optimal control. Select from a wide range of security options, including dual control among users, daily or transaction limits and transaction approval rules.

You designate the rights of each user on the platform. You can restrict each user by dollar amount and function. Dollar amounts can be either single transaction, daily aggregate or both.

Additionally, the online platform requires two unique users for the creation, approval and release of any transaction. Two unique users must also be involved in the creation, approval and activation of any underlying template. Even if a user has all three entitlements, they cannot initiate all three actions on a transaction on their own.
c. What is the cutoff time for same‐day intra‐bank account transfers? The cutoff time for same-day transaction posting is 8:00 p.m. PT; any transaction initiated after this time will roll the value date and post on the following business day.

Exhibit C – Scope of Services | 92 |

15. Statements and Documents
a. How soon after the cutoff date are the following items ready online? ● Bank statements
Electronic statements are available within two business days. Paper statements, when required, are usually printed and sent to your designated address by the second business day, following the end of each month. ● Partial reconciliation information
From statement cutoff to receipt of account statements, canceled checks and partial reconcilement information, our normal turnaround time spans up to five business days.

Please note that turnaround times are measured from statement cutoff date for partial reconciliation. ● Full reconciliation information
From statement cutoff to receipt of account statements, canceled checks and full reconcilement information, our normal turnaround time spans up to five business days.

Please note that turnaround times are measured from receipt of final issue file for full reconciliation. ● Account analysis statements
Our electronic billing statements are available online through J.P. Morgan Access on the sixth business day after the close of the billing period. You can download files as PDF, Excel and CSV formats—as well as 822 (file transmission only). Also, we offer CAMT.086 ISO formatted billing files, the newest industry standard electronic statement.
b. Provide a sample Bank Monthly Statement.

The account bank statement in PDF format shows each section of the bank statement in a separate section—summary, grouped transactions (e.g., checks paid, electronic withdrawals), and daily ending balance. Totals are displayed at the end of each section for clarity.

Exhibit C – Scope of Services | 93 |
Summary section

Figure 17

Exhibit C – Scope of Services | 94 |
Grouped transactions section

Figure 18

Exhibit C – Scope of Services | 95 |
Daily ending balance section

Figure 19

c. Are electronic images stored in the bank’s online reporting system? If so, does the bank charge for these services? If yes, provide details on how the charges are figured.

Yes, electronic images are stored on our online portal. We offer paid item images in different media to meet the City’s image strategy. Options for paid check images are:
● Online: Retrieve in seconds, compared with hours or even days for physical retrieval and the quality of the reproduced image is extremely clear

Exhibit C – Scope of Services | 96 |
● Online bulk image retrieval: A batch of items is provided in a PDF or ZIP file format ● Image transmission: Receive fast, automated image files directly transmitted to your internal check archive for high-volume clients
There is a one-time to charge to image and store the item.

Pricing offered is based on the City’s relationship with J.P. Morgan and projected transactional volumes.

Please see our Cost Proposal for pricing.
d. How long are electronic images for deposited and disbursement items available for customer access?
Yes, we accommodate image delivery via the Statements and Checks functionalities on J.P. Morgan Access and via Receivables Online.

Check disbursements, check images are available the same day the check is presented and stored for 7 years (standard) with an option to extend retention up to 10 years. For positive pay clients, exceptions include check images for your review and decision.

The deposit information for branch teller, branch night drop, vault (via armored car) and ATM deposit options is viewable on a same day basis on J.P. Morgan Access, with any images available the following day. Images submitted using Remote Deposit Capture are available for viewing the same day. e. How does your image system capture and report images for damaged checks? We perform MICR repair on damaged checks to provide an image. If the item is missing, we provide a message indicating that the image is not available.
f. What technology would you recommend the City use to store historical data? Our banking portal can export information on daily or a specified date range of activity, including wire transfers, ACH payments, drafts, checks and statements. Receive balance and transaction information in the following formats for interface to treasury workstation environments:
● Excel
● BAI2
● CSV
● SWIFT MT942/MT940
● ISO 20022 camt.052 /.053/.054
● PDF
● Open Financial Exchange (OFX)
You can also export data to Excel and other software packages.

If you prefer a transfer to your internal systems, a direct transmission can provide prior-day and current-day data in BAI2, CSV, SWIFT MT 942/940, ISO 20022 camt.052/.053/.054 and ANSI ASC EDI X12 821 formats.

This service, separate from our banking portal, is typically requested for large-volume accounts.

Exhibit C – Scope of Services | 97 |
g. Can historical data be downloaded?
Yes, historical data can be downloaded. Our banking portal can export information on daily or a specified date range of activity, including wire transfers, ACH payments, drafts, checks, and statements. Furthermore, paid check images are accessible via our banking portal for up to 7 years, even after an account has been closed, with an option to extend retention up to 10 years.

16. Reconciliation Services
a. Does your bank offer Account Reconciliation Program (ARP) services? Please discuss options (full, partial, deposit and serial sort) for reconciliation services, including:

Yes. We offer a range of account reconciliation (ARP) services. All ARP services are optional and designed to enhance reconciliation efficiencies. We offer both full and partial reconciliation and describe below.

Full reconciliation
Receive a reconciliation of outstanding and paid checks, with the option of reconciling accounts by the week, month, fiscal or calendar year in a format tailored to meet your needs.

Provide detailed check issue data, including account numbers, check numbers, issue dates, dollar amounts and reference information (up to 15 bytes) for full reconciliation.

Choose how you wish to supply this data, in a file transmission or by upload or manual key entry to J.P. Morgan Access, as needed by the check activity in each account.

With check issued data, we perform a full reconciliation of activity in the account, delivering a reconciliation report package via the online portal. The standard full reconciliation package contains an account statement, balance sheet, paid and outstanding check listing, plus a summary including check number, issue date, amount paid and paid date.

Partial reconciliation
Receive a detailed listing of checks paid against a disbursement account over a client-defined period of time with partial reconciliation. This service also details certain other categories, such as stopped checks.

Checks are typically listed in check serial number sequence with the amount and date each check was paid.

The reports are available via the banking portal.

Reconciliation reporting
View your reconciliation report package on J.P. Morgan Access within five business days from the close of a cutoff cycle. Download reconciliation reports in PDF and daily paid files in TXT format from the Recon Output tab in Access Checks.

Exhibit C – Scope of Services | 98 |
Account reconciliation reports

Figure 20
Data Download
Use the Data Download feature of the banking portal to reconcile accounts or perform extensive research on check activity. Data Download allows you to download disbursement transaction detail information in a CSV or QuickBooks format file (QBO).

Transactions available for ARP include outstanding and cancelled check status transactions along with paid, stop payment and return transactions. Non-ARP accounts only have paid, stop payment and return transactions reported.

To meet your reporting needs, determine filters from these options:
● Account number
● Transaction status category
● Date paid
● Effective date
Each request is tracked and delivered in your inbox on the online portal.

With activation of reconcilement service, you incur a monthly maintenance fee on your account analysis statement.

Exhibit C – Scope of Services | 99 |
● File transmission deadlines
Our cutoff time for receiving transmitted files for issued checks, adds and deletes is 11:00 p.m. PT for that day’s effective date.

J.P. Morgan Access input file uploads are accepted up to 7:30 p.m. PT for that night's processing. Any file received and accepted after that will be included in the next day’s account reconciliation batches.

Our cutoff time for receiving manual issues through the online portal is 7:30 p.m. PT.

Paid check files are generally available by 5:00 a.m. PT. We transmit reconciled check files within 24 hours of completed reconciliation.
● File layout requirements
Manage file delivery per your preference:
● Upload option: Upload files containing positive pay issues, voids/cancels and stop payment requests into the banking portal in fixed text, CSV or XML formats ● Transmission option: Transmit the positive pay, check issue files directly to the bank For validation, receive an automated acknowledgement of your check issuance file transmission within one hour of file receipt, via the internet or transmission. For ARP input file specifications, please see the ARP Issue File Layout sample in Appendix 9.

Sample ARP file layout

Figure 21

You can also receive direct transmission of prior-day balance reporting in BAI2 format and direct transmission of check paid detail for uploading into your accounting, ERP and/or treasury workstation.

Customized file format setup for incoming files
We also offer an option for you to map your issue file using two custom file formats—delimited (CSV) and fixed width. You can specify the file format type in the New File Format Setup page, which is accessed through the Recon Input tab in our banking portal.

Exhibit C – Scope of Services | 100 |
Adding a new delimited (CSV) file format

Figure 22

● Imaging capabilities (e.g., paper, electronic)
We offer paid item images in different media to meet the City’s image strategy. Options for paid check images are:
● Online via J.P. Morgan Access: Retrieve in seconds, compared with hours or even days for physical retrieval and the quality of the reproduced image is extremely clear (see image example below)
● Bulk image retrieval via J.P. Morgan Access: A batch of items is provided in a PDF or ZIP file format
● Image transmission: Receive fast, automated image files directly transmitted to your internal check archive for high-volume clients
● Reporting capabilities
The bank offers a comprehensive range of reconciliation services and reporting capabilities designed to enhance reconciliation efficiencies. These services include both full and partial reconciliation options. Full reconciliation provides a detailed reconciliation of outstanding and paid checks, with options to reconcile accounts by week, month, fiscal, or calendar year. Detailed check issue data is provided, and reconciliation reports are delivered via the online portal. Partial reconciliation offers a detailed listing of checks paid against a disbursement account over a client-defined period, with reports available via the banking portal.

Reconciliation reports are available within five business days from the close of a cutoff cycle and can be downloaded in PDF and TXT formats. The bank also offers a Data Download feature for extensive research on check activity, allowing transactions to be downloaded in CSV or QuickBooks format files. Additionally, the bank provides various balance and transaction detail reports, which can be exported in multiple formats, including CSV, BAI2, QuickBooks (QBO), ISO camt.052/.053/.054, and Swift MT942/MT940 formats.

Exhibit C – Scope of Services | 101 |
The bank's ARP services include a variety of report options for full and partial reconciliation, such as Bank Statement, Consolidated Diagnostic Summary Report, Consolidated Reconciliation Report, Current Stop Reconciliation Report, DDA Paid File, Daily Paid File, Miscellaneous Credit Reconciliation Report, Miscellaneous Debit Reconciliation Report, Outstanding Settlement Report, Paid No Issue Report, Paid Only Diagnostic Summary Report, Paid Only Reconciliation Report, Recap of Posted Items, Reconciliation Data File, Stop Reconciliation Report, Unmatched Report, Unpaid Only Diagnostic Summary Report, and Unpaid Only Reconciliation Report. These reports provide detailed information on credit, debit, and paid check activity, exception items, and outstanding checks, among other details. ● System requirements for interface
We can exchange files through SFTP, HTTPS, AS2, FileAct and EBICS. b. Provide sample reports for all options.

Please see Appendix 10 for sample ARP reports.
c. Are the systems integrated for checks, ACH, and wire transfers? If so, please describe. If not, please provide information about any plans to do so.

Yes. File Transmission Payments supports the ability to upload or transmit a single file with mixed payment types in ISO 20022 XML v3, SAP IDoc and our proprietary Global Flat File (GFF) formats, including the following payment types:
● Domestic U.S. and global wire payments
● Domestic U.S. and global ACH payments
● U.S. and Canada check payments
● Global multibank payments
● Domestic U.S. Virtual Card
● Same currency and cross-currency urgent and non-urgent payments With Host-to-Host Online, you can have a final review and approval of the file before it is released for processing.

Our banking platform also provides the ability to initiate wires, originate ACH and view check information. d. Describe how reconciliation data is transmitted to the City.

View your reconciliation report package on J.P. Morgan Access within five business days from the close of a cutoff cycle. Download reconciliation reports in PDF and daily paid files in TXT format from the Recon Output tab in Access Checks.

Transaction detail is available via our File Transmission service and/or from J.P. Morgan Access Cash Reports. These formats provide current and prior day reporting of your balances and transaction activity that posted to the account (i.e., does not include outstanding checks)

Exhibit C – Scope of Services | 102 |
● Balance and Transaction Detail reports available online, downloaded to Excel and PDF ● Export files in CSV, BAI2 and QuickBooks (QBO)
● ISO camt.052/.053/.054 and Swift MT942/MT940 formats

17. File Transfer
a. How are file transfers initiated? In what formats is the information available for retrieval? File transfers are initiated through J.P. Morgan File Transmission. You begin by establishing a secure connection between your Enterprise Resource Planning (ERP) System to J.P. Morgan.

You provide a single payment file with various payment types—ACH, wire, virtual card and check print outsource. File Transmission Payments then authenticates the file, validates its content, and routes the transactions to the correct settlement networks.

Our file transmission platform is a secure data communications environment that provides the City with a comprehensive two-way exchange of data between your ERP system and J.P. Morgan. This leverages industry-standard communication protocols, such as SWIFTNet FileAct, SFTP, AS2 and HTTPS.

We support industry-standard file formats, including:
● For payments: ISO 20022 XML, pain.001.001.03 (and v2), collections pain.008.001.02, our proprietary Global Flat File (GFF), ASC X12, IDoc PEXR 2002, PEXR2003 ● For payment file confirmations: ISO 20022 XML, pain.002 and ASC X12. ● For reporting: ISO 20022 camt.052/053/054, SWIFT MT940/942, BAI2 and CSV. b. Do the means to connect to the bank’s systems vary by transaction type? By using File Transmission Payments, our global mixed payables solution for electronic file transfer, the City can produce a single payment file from your Enterprise Resource Planning (ERP) or Treasury Workstation system for all payment types, e.g., wires, ACH, checks, FX, and transmit them to the bank in a single format (such as ISO 20022 XML). The bank then translates the file into the various formats required by each payment processing system, saving the City from having to separate files for each transaction type.

Check instructions sent to J.P. Morgan for printing will automatically have the issue records created for positive pay.

File Transmission Payments provides the City with a secured pipeline with J.P. Morgan. It allows you to streamline operations and reduce expense by transferring to J.P. Morgan many of the tasks involved in payments initiation and reconcilement. The translation facility is designed to support all transaction types, as well as split remittance details and return file acknowledgements.

Exhibit C – Scope of Services | 103 |
c. Does your system provide for electronic confirmation of receipt for file transmissions? Yes, for payment files transmitted via File Transmission, a confirmation report will be transmitted to you providing a status of payments, with a client confirmation number assigned for successful payments accepted for processing and a reason for rejected transactions. Once the transaction has been processed and pushed to the respective clearing system, a transaction reference number is automatically generated by our internal processing system and included in reporting.
d. Is there an existing interface with the City’s financial system, Tyler Enterprise (formerly Munis), or would a custom interface need to be developed? Will there be a charge for the interface? With file transmission, we could integrate with Tyler Enterprise using standard ISO (Payments) and BAI2, SWIFT, CSV and OFX (Reporting) file formats, and provide a global view of account balance and transaction details in a single place and file delivery in near real-time for view of payment initiation status.

Supporting your integration efforts
We will work with the City during the implementation phase to establish the pre-agreed file format interface between your ERP system and our electronic banking channels.

We have developed a number of key services to facilitate the required integration with your ERP system:
● We provide documentation on the required specification details for both import and export file formats and can provide sample files on request.
● Your designated file transmission client technical onboarding manager together with your designated client onboarding manager, will work with you to make sure the process of integrating our system with yours is as simple as possible.
● During the implementation stage, we will help validate and provide feedback on files.

Additionally, for implementing direct host-to-host connectivity, we have a designated testing environment managed by our Client Testing Center, making sure all required file transmission testing is executed efficiently and effectively. The technical integration follows the following testing process:
● Tests are designed to validate connectivity between the City and J.P. Morgan. The City must pre-test file contents and formats prior to testing linkage to J.P. Morgan. ● Test transmissions should simulate production files, containing positive dollar value transactions. All test files are received into a test environment and do not post to activate accounts. Testing will include all requested acknowledgment services.
● Testing results, as well as any necessary modifications, will be communicated and documented.

Testing will continue until acceptable results are achieved. J.P. Morgan requires three successive successful tests prior to moving to the production environment. ● J.P. Morgan proactively monitors all initial production (live) files.

Exhibit C – Scope of Services | 104 |
To establish a smooth migration to J.P. Morgan’s platforms, our Technical Service Group will also provide training and assistance to the City’s staff to make sure that users are familiar with the functionality of the system.
e. How is connectivity initiated? What protocols are used to facilitate the interface? Our secure data communications environment for file transmissions provides the City with a comprehensive, two-way exchange of data between Tyler Enterprise and the bank. This solution leverages industry-standard communication protocols, such as:
● sFTP
● HTTPS
● EBICS
● FTPS
● AS2
● SwiftNet FileAct
f. Describe the process the bank uses to verify that all records have been received and processed.

Upon receipt of the payment files at J.P. Morgan's host server, an email notification will be sent to the City to state the file has been successfully received.

Our File Transmission Payments service will perform the following processes:
● Authentication (confirm credentials to make certain that the file is from the City and validate the appropriateness of file type being sent)
● Validation of structural integrity (syntax checks)
● Duplication checks at both the file and transaction level to prevent duplicate payments ● Validation of content instructions are checked against high level criteria to make certain entitlement originated from specified accounts.
● Splitting and routing to the respective J.P. Morgan back-end systems or other banks for processing.

The City can send a single payment file with instructions to J.P. Morgan branches or other banks. g. What controls are in place to protect against lost files and duplicate transmissions? How will the City be notified of a duplicate file?
We employ several controls to protect against lost files and duplicate transmissions. Upon receipt of a payment file, the file transmission platform performs necessary authentication on the credentials and structural integrity validation of the payment file as well as check for any duplication at both the file and transaction levels.

If a duplicate file is detected, the system will automatically reject it and the rejection will be reflected in the Confirmation Report sent back to the City via the same file transmission connectivity. Additionally, we provide a highly secure, scalable file transmission platform with geographically diverse redundancy, virtually 24/7/365 connectivity and prompt processing. This robust infrastructure helps mitigate the risk of lost files. Clients can also monitor the status of their file transmissions in real-time through the online portal, which provides visibility into current-day and prior-day file transmissions, allowing early intervention if files are missing or

Exhibit C – Scope of Services | 105 |
have failed. Notifications of file failures are automatically configured to be sent via the online portal, so clients are promptly informed of any issues.

18. Overnight Investment/Investment Sweep
The City requires an automated service that allows for the daily accommodation as low as zero balances in the accounts and a sweep or other vehicle for investment of excess funds. a. Describe your policy and processes.

We offer integrated off-balance sheet investment solutions as well as our Hybrid DDA solution for excess operating balances not needed to offset bank fees with earnings credit allowance.

Recent central bank actions have resulted in an evolving rate environment, making an optimized, flexible account structure a key component of a successful business strategy.

Our Hybrid DDA allows you to earn both a competitive ECR and interest from a single account.

This solution opens the door to a simplified account structure, allows for balances to offset service fees and minimizes time spent managing investments.

Sweep to money market fund
We offer both end-of-day and intraday investment sweeps to J.P. Morgan and select third-party money market funds (MMF) helping you efficiently invest account balances, maintain liquidity and meet investment guidelines. Investment sweep services afford competitive returns while simultaneously providing fluid integration with operating accounts.

Our sweep product offering provides you visibility of accounts and returns online through J.P. Morgan Access Liquidity Solutions, available via the online portal.

Exhibit C – Scope of Services | 106 |
Use our breadth of services, reputation, and financial strength and stability to build upon the efficiency and value of our own cash management operation. Below, please see investment details on the sweep offering available to you.

You can combine intraday and end-of-day investments as a way to address any cash flow activity that may take place after intraday investment cutoff times.

End-of-day
Receive end-of-day sweep options with J.P. Morgan and select third-party money market funds (MMFs) to implement an effective sweep structure. The amount invested via the sweep is determined by the available account balance at sweep time in conjunction with pre-established, sweep parameters you define.

End-of-day sweep offering
Money market funds (MMF)
Exposure The specific MMF selected; see prospectus at
Rating https://am.jpmorgan.com/us/en/asset-management/liq/ Timing Last transaction of the business banking day
Return of funds The morning of the next business day
Interest/Dividends Dividends accrue daily, paid monthly on a 365-day basis Restrictions/Comments  U.S. corporations/entities must invest in U.S.-registered funds  End-of-day sweep: Investment cap established based on average stable balance
 See prospectus for fund details

Set your parameters, such as target balance and sweep increments, during the initial sweep setup, and you can modify parameters by contacting Customer Service.

Highlights of end-of-day sweeps
End-of-day sweeps are based on a target balance set by you which should be maintained in the account at all times.

Benefit when balances exceeding the target are moved by the sweep system into the selected investment vehicle in increments you define:
 End-of-day collected balances that exceed the target balance are automatically invested up to the account’s investment cap. Balances above the cap may also be invested depending on availability of shares.  End-of-day sweeps are processed as the last transaction of the business day. MMFs are automatically returned the morning of the next trading day.
 For maximum flexibility, we permit sweep increments as small as $1.00.  An investment cap is established for each account based on the estimated average sweep balances.

Exhibit C – Scope of Services | 107 |
End-of-day sweeps are processed as the lasts transaction of the business day and do not have designated cutoff times.

End-of-day money market funds availability and cutoff times J.P. Morgan fund Cutoff time
U.S. Government Money Market Fund Last transaction of the day U.S. Treasury Plus Money Market Fund Last transaction of the day 100% U.S. Treasury Money Market Fund Last transaction of the day Note: Select third-party provider funds may be available. The Prime Fund calculates its net asset value to four decimals (e.g., $1.0000) using market-based pricing and operates with a floating net asset value. b. What short term investment vehicle(s) does the bank propose to use for the overnight investment or sweep of the City’s demand deposit accounts?
We offer a variety of deposit and investment alternatives for your operating and reserve balances including:
● Commercial Checking with Interest
● Hybrid DDA
● Money Market Deposit Account (MMDA)
● Certificates of deposit (CD)
● Liquidity Management Account (LMA)
● Client Directed investment into Money Market Funds (sweep functionality offered) ● End of Day (Roundtrip) Investment Sweeps
● Intraday Investment Sweeps
c. Does a reserve requirement apply to these proposed options? In calculating the ECR, we currently do not deduct the reserve requirement from the available balance.

Since October 1, 2008, the Federal Reserve has paid interest on reserves held at the Federal Reserve by member banks. We pass this benefit to you by basing the earnings credit on 100% of the eligible balance of non-interest-bearing demand deposit accounts.

Exhibit C – Scope of Services | 108 |
d. Will the bank assess FDIC or FICO or other charges to the City? If so, what is the fee for an entire year on a $1 million balance? How is this charge computed? Is it assessed on a ledger or collected balances?
Yes. We charge a balance-based charge (BBC), which is a monthly administrative fee assessed to address various regulatory and other charges affecting the bank. The rate is set by the bank and subject to periodic review and adjustment.

We use the following formula to calculate the BBC:

Balance-based charge calculation (monthly)
Average positive ledger balance x charge rate x number of calendar days in the month Actual number of days in the year

Since January 2, 2010, our BBC rate has been 0.13%.

As with other eligible fees, the monthly BBC may be offset by earnings credit provided by J.P. Morgan. This charge is included in monthly account analysis statements.

The fee for an entire year on a $1 million balance is $1,324.93.

BBC charge is calculated on the average positive ledger balance. e. Provide investment return history for the previous three years for each option proposed. Show the yield for each.

For your convenience, please visit link https://am.jpmorgan.com/us/en/asset- management/liq/products/jpmorgan-u-s-government-money-market-fund-capital-4812c0670 and select the share class from the dropdown—the fact sheet on this page shows the return history. f. Describe your policy for crediting interest earned to demand accounts.

The interest on MMF investments (dividends) is calculated daily and credited monthly on the first business day of the subsequent month.

You may access your investment daily interest (dividend) on your monthly investment statement or by logging into your J.P. Morgan Access Liquidity Solutions online platform (where applicable). g. What time of day is the sweep deadline? Is it end of day or next day? We offer the City end-of-day investment sweeps.

End-of-day sweeps are processed as the last transaction of the business day and do not have designated cutoff times. Money market funds are automatically returned the morning of the next business day.

Exhibit C – Scope of Services | 109 |
End-of-day money market funds availability and cutoff times J.P. Morgan fund Cutoff time
U.S. Government Money Market Fund Last transaction of the day U.S. Treasury Plus Money Market Fund Last transaction of the day 100% U.S. Treasury Money Market Fund Last transaction of the day Note: Select third-party provider funds may be available. The Prime Fund calculates its net asset value to four decimals (e.g., $1.0000) using market-based pricing and operates with a floating net asset value.

19. Earnings Credit Rates (ECR)
a. What are the options of compensating your bank, i.e., direct fees, or compensating balances, or a combination of both? Is the price the same for either option? If not, what is the difference? If on a fee basis, can excess balances be used to offset activity charges partially? Will earnings credit on collected balances in excess of those required to pay expenses incurred in any month be carried forward to offset future bank charges? Provide the bank’s ECR for compensating balance method of payment.

We offer a hybrid demand deposit account (DDA) with the option of either paying a “hard dollar” interest, an earnings credit allowance (“soft dollar”), or a combination of both. Pricing information is available in our Cost Proposal.

We offer an earnings credit–a soft dollar value calculation–on cash balances. This earnings credit can be used to offset certain banking service fees and may enable you to realize greater value for your cash compared to other alternatives. The account analysis statement automatically applies the earnings credit to offset service fees for an analysis period.

To the extent that earnings credits are not sufficient to offset all service charges, you pay hard dollars for the balance. We will debit your account of choice monthly for this payment. Balances required to offset service charges will vary based on fluctuations in the earnings credit rate and account activity. The earnings credit allowance is automatically credited to your monthly applicable billing statement.

Recent central bank actions have resulted in an evolving rate environment, making an optimized, flexible account structure a key component of a successful business strategy. The J.P. Morgan Hybrid DDA allows you to earn both a competitive ECR and interest from a single account.

The earnings credit rate is a bank managed rate that we review and update periodically after considering a range of factors, including the market rate environment. Using a managed rate helps to maintain pricing flexibility while helping to protect you from the short-term rate volatility that could result from using an indexed rate.

The earnings credit allowance is calculated based on the average daily positive collected balances in your accounts less the reserve requirement (currently 0%) using the following calculation:

Exhibit C – Scope of Services | 110 |
Monthly earnings credit allowance calculation
(Average monthly investable balance x ECR x actual number of days in month) Actual number of days in year

b. How is your bank’s earnings credit determined, adjusted, and applied? Please include in the explanation the impact of the bank’s reserve requirement, and the formula for converting services charges to balance requirements.

The earnings credit rate (ECR) is a bank managed rate that is reviewed and updated periodically after considering a range of factors, including the market rate environment. Using a managed rate helps to maintain pricing flexibility while protecting clients from short-term rate volatility that could result from using an indexed rate.

The earnings credit allowance is calculated based on the average daily positive collected balances in your accounts, less the reserve requirement (currently 0%), using the following calculation: (Average monthly investable balance x ECR x actual number of days in month) / Actual number of days in year.

Since October 1, 2008, the Federal Reserve has paid interest on reserves held at the Federal Reserve by member banks, and this benefit is passed to clients by basing the earnings credit on 100% of the eligible balance of non-interest-bearing demand deposit accounts. c. Provide monthly rate history for the last two years.

J.P. Morgan’s prior rates are listed below:

Earnings credit rate history
Oct-25 2.80% Feb-25 3.05% Jun-24 3.85%
Sept-25 3.05% Jan-25 3.05% May-24 3.85%
Aug-25 3.05% Dec-24 3.25% Apr-24 3.85%
Jul-25 3.05% Nov-24 3.25% Mar-24 3.85%
Jun-25 3.05% Oct-24 3.45% Feb-24 3.85%
May-25 3.05% Sept-24 3.85% Jan-24 3.85%
Apr-25 3.05% Aug-24 3.85% Dec-23 3.85%
Mar-25 3.05% Jul-24 3.85% Nov-23 3.85%
d. What is the bank’s current earnings credit rate? Are you willing to lock in a “floor” earnings credit rate? If so, for how long?
We are offering the City bank managed premium rates of:

Exhibit C – Scope of Services | 111 |
● ECR: 280bps
● Interest rate: 270bps
Managed rates allow for flexibility as the rate environment shifts. We will work with the City to set an appropriate peg balance for a strategic deployment of yield to offset bank fees or earn hard dollar interest. e. Are you willing to link the earnings credit rate to a market index? If so, which index would you suggest and what spread?
The ECR is a bank managed rate reviewed and updated periodically by J.P. Morgan after considering a range of factors, including the market rate environment. Using a managed rate helps to maintain pricing flexibility while helping to protect you from the short-term rate volatility that could result from using an indexed rate.
f. What time frame does your bank use when reviewing balances for deficiency or excess (e.g., rolling 12-month average, calendar quarter, calendar year, etc.)? Earnings credit is calculated and applied each month. Based on our understanding of the City’s balances and priorities, we would recommend the City leverage a Hybrid DDA to maximize the monthly earnings credit allowance.

The Hybrid DDA offers a solution similar to the functionality of an overnight sweep service. In the Hybrid DDA solution, balances earn an ECA up to a predetermined threshold to offset bank service fees with balances above the threshold earning hard dollar interest. Thus, instead of sweeping to a separate account each night, your excess balance remains in the DDA and earns interest. Additionally, the Hybrid DDA does not have an investment cap like an end-of-day money market fund (MMF) sweep solution.

Balances up to a predetermined threshold (peg balance) earn an ECA at the proposed ECR of 2.80%. Funds up to the peg balance are used to offset bank service fees. Balances above the peg balance earn hard dollar interest at a proposed rate of 2.70%. Interest accrues daily and is paid monthly. The below illustrates how the Hybrid DDA works.

Exhibit C – Scope of Services | 112 |
Hybrid DDA structure

Figure 23

The peg balance can be changed at any time prior to the next billing cycle (and applied on a go forward basis) to adjust for unplanned changes in service fees (e.g., significant volume changes, service additions/deletions, to compensate for periods in which minimum balance levels fall below the peg balance amount).

Calculation of ECR and interest
The ECR and interest rate are bank managed rates that are reviewed and updated periodically by us after considering a range of factors, including the market rate environment. Using a managed rate helps maintain pricing flexibility while also helping protect you from the short-term rate volatility that could result from using an indexed rate.

The ECA is calculated and applied monthly on the balances up to the peg balance.

Monthly earnings credit allowance calculation
(Average monthly investable balance x ECR x actual number of days in month) Actual number of days in year

Hard dollar interest accrues daily on the closing daily balance above the ECR peg balance and is paid monthly.

Daily interest accrual calculation
(Daily positive collected balance above the peg x account interest rate)

Exhibit C – Scope of Services | 113 |
Actual number of days in year

20. Account Analysis
a. Describe your Account Analysis service, including frequency of online availability, daily, weekly, monthly?
The City receives an account analysis statement each month identifying all services provided, product volumes and the resulting service charge incurred.

Benefit from retrieving electronic account analysis statements via our online portal, J.P. Morgan Access.

Each month, you receive a summary account analysis statement for your entire billing relationship in addition to a detailed account analysis statement for each individual account. The statement includes:
● Balance/Compensation analysis: Provides a summarized view of the balances, service charges and earnings allowance applied to your account.
● Service/Activity analysis: Details the services used in the statement month by product category.

You can retrieve your electronic account analysis statements on the sixth business day after the close of the billing period. View, print and export all sections of your account analysis statement through the online portal.

Analysis statements are available in PDF, Excel and CSV formats. Additionally, EDI 822 format is available through direct transmission or secure email. We also offer CAMT.086 ISO formatted billing files, the newest industry standard electronic statement.

You can group specific accounts and billing relationships together for online analysis purposes and create user profiles giving access to specific accounts or billing relationships, as required. b. Provide a sample analysis statement and include the Association for Financial Professionals (AFP) Service Codes on the analysis statement.

We provide a statement option that includes AFP service codes on U.S. account analysis statements. We utilize the 2020 version of AFP Service codes, which are included on both paper and electronic statements.

While we are not an accredited AFP Service Codes provider, our pro forma conforms to the AFP service

Exhibit C – Scope of Services | 114 |
code construct, and we will work with you to map the service codes to any software currently in use for bank fee analysis.

Sample account analysis in Adobe PDF format
Account analysis statements in PDF format show each section of billing information in a separate table. Total charges are displayed at the end of each table for clarity.

Balance and Compensation Analysis section

Figure 24

Exhibit C – Scope of Services | 115 |
Activity Summary section

Figure 25

Relationship Balance Compensation History section

Figure 26

Exhibit C – Scope of Services | 116 |

21. End‐of‐Day Overdrafts
a. What are the fees and interest charges associated with overdrafts? How are these charges calculated?
We charge for the use of end-of-day (EOD) uncollected funds by applying a daily variable overdraft (OD) rate to individual DDAs for each day an overdraft occurs. There may also be a fee per occurrence. Offset Interest and overdraft fees are eligible for offset with earnings credit allowance generated through positive investable balances associated with related stand-alone or group billing relationships.

The negative collected balance fee is calculated daily, as follows:

Negative collected balance fee calculation
(negative collected balance x overdraft rate)
360 days
There is also a per occurrence fee for each day an account maintains an EOD negative collected balance.

J.P. Morgan’s policy is that collected balances be maintained in the account(s) at all times to cover daily cash disbursements. Credit arrangements or netting/pooling arrangements that may be required would be determined and discussed in advance with the City’s relationship manager. b. Is there a fee per check or occurrence when there is an overdraft? There is also a per occurrence fee for each day an account maintains an EOD negative collected balance. c. Is there a daily cap on fees?
No, there is no daily cap on overdraft fees. The negative collected balance amount is assessed a fee based on our prevailing Prime Rate + 3%. There is no cap on this charge.

22. Daylight Overdrafts
a. Describe the bank’s policies concerning daylight balance overdrafts. Indicate whether this is applied to each account or across all accounts of a client relationship.

Considering the established credit standing, an appropriate intraday credit limit is made available to make sure your transactions flow smoothly and efficiently through our systems. The limit is electronically verified by our Funds Transfer Balance Control System. Payments within the limit, plus the current cash position in your account, are executed.

Exhibit C – Scope of Services | 117 |
b. Are outgoing wire transfers held if the intra-day limit is reached? Should a payment take your account balances over the intraday limit, the transfer will be stored electronically and referred to your funds control officer for approval. If covering funds are received while the payment is stored, the transfer will be automatically released without manual intervention. c. How does the bank process wire transfer instructions that are rejected for credit or daylight overdraft issues? How and when is the City notified? Who will be the bank contact person? The bank will process and re-credit your account on the same day upon receipt of a rejected wire. For certain methods of payment initiation, your designated client service team will notify you of the returned or rejected wire transfer and the reason for the rejection. You can also view the details of the returned item via J.P. Morgan Access once it’s been posted.
d. Does the bank establish an intra-day limit per account or customer? How flexible can the bank be in setting an appropriate limit for the City?
We establish an intraday limit and describe our process below.

Considering the established credit standing, an appropriate intraday credit limit is made available to make sure your transactions flow smoothly and efficiently through our systems. The limit is electronically verified by our Funds Transfer Balance Control System. Payments within the limit, plus the current cash position in your account, are executed.

Should a payment take your account balances over the intraday limit, the transfer will be stored electronically and referred to your funds control officer for approval. If covering funds are received while the payment is stored, the transfer will be automatically released without manual intervention.

Intra-day limits are regularly reviewed to make sure appropriate levels are set at the customer level. e. If the bank incurs a daylight overdraft charge from the Fed, will it pass this charge on to its customers? If so, how (e.g. intra‐day loan, daylight overdraft facility fees)? How is the cost allocated among customers?
We do not charge clients for Fed daylight overdrafts arising in the context of normal clearing activities at this time, which is current market practice.

Exhibit C – Scope of Services | 118 |

23. Procurement (Purchasing Cards) or P-card
The banking services can include Procurement Card Services but is not a requirement. Additionally, vendors may submit a proposal for Procurement services only without banking services.

Please respond to each item listed below:
a. Describe your online card management processes: new card issuance, deletion, replacement, modification, etc.

We offer three options for initial and ongoing card issuance:
● Spreadsheet application
● Online applications
● Paper applications
The City’s cardholders can use PaymentNet to make changes to their personal settings, such as email notifications (as well as the associated email address), password/security questions and page views.

As a program administrator, you can choose which self-service actions are available to cardholders who are assigned to a specific hierarchy ID. These actions, which your users will see on the My Account Detail page, give users control over the management of their card accounts.

Depending on the options you select, cardholders will be able to edit contact information for their accounts, temporarily suspend and then reactivate a card, cancel a card they no longer need and request the replacement of a lost or damaged card.
● Update Account Information: Allows a cardholder to edit the Cardholder Address, Home Address, and Contact Information associated with their accounts. ● Suspend/Reactivate Card: Allows a cardholder to suspend an account, for example during a leave of absence, and then reactivate it upon their return.
● Cancel Card: Allows a cardholder to deactivate a card that is no longer needed. ● Issue Replacement Card: Allows a cardholder to request a replacement for a lost or damaged card.

You can also select Rush Card Delivery if you want to allow cardholders to request rush delivery for a replacement card (an additional fee may apply).
b. Describe the bank’s system requirements.

PaymentNet is cloud-based and the City can easily access all of your transaction data online through a supported secure internet browser at any time.

Current hardware and software requirements include:

Exhibit C – Scope of Services | 119 |
Hardware/Software Requirement
Processor Pentium® or Celeron® 500 MHz processor (minimum) Operating System Windows 7
Supported Browsers PaymentNet is supported for use with:
 Mozilla Firefox® 78.9 and above on Windows 7
 Google Chrome™ 91 and above on Windows 7
J.P. Morgan encourages users to use a supported browser for a better experience.

Browser Requirements Configure your internet browser to accommodate the following:
 Enable JavaScript
 Allow cookies
 Turn off pop-up blocking in your browser and within other security software on your computer
 Support AES 128-bit encryption security.
 Support EV SSL (Extended Validation SSL) certificates.

Additional Software  Adobe Acrobat Reader® 4.0 or higher. Reader is available for free on the Adobe website
 Any file decompression software (for example, WinZip)  Microsoft Excel® 2003 or later is required to view and download reports, imports, and mappers
Memory 512 Mb RAM (minimum), 1 GB RAM (recommended)
Storage Capacity 300 Mb available free space after installation of operating system and browser (minimum), 500 Mb (recommended)
Communication Direct internet connection.
 PaymentNet works best over broadband connections
 Dial-up connections are not recommended for performance reasons Monitor/Resolution SVGA 1024 x 768 resolution, 256-color (minimum) Spam Blocking Check with your company or organization technical support department to verify the following email addresses and domains are not blocked.

Email Addresses
 [email protected]
 [email protected]
 [email protected]
Domains
 paymentnet.jpmorgan.com
 jpmchase.com
 chase.com
 jpmorgan.com

Exhibit C – Scope of Services | 120 |
c. Describe the bank’s technical capabilities internet.

Our bank's technical capabilities on the internet are robust and designed to provide secure and efficient access to services. PaymentNet is a cloud-based system that allows clients to access transaction data online through a supported secure internet browser at any time.

The system and network architecture are designed to promote the highest level of industry security standards, utilizing digital certificate technology and secure, encrypted browser sessions with 128-bit TLS.

Additional security measures include multiple redundant hardware, firewall equipment, and an intrusion detection system. Internet applications require a Perimeter Infrastructure Assessment review and approval, including mandatory vulnerability testing and security design review. The network is configured with multiple diversely routed paths to re-direct traffic in case of disruptions, delivering continuous communication even during provider outages.

Supported browsers for PaymentNet include Mozilla Firefox 78.9 and above, and Google Chrome 91 and above on Windows 7. Users are encouraged to use a supported browser for a better experience. The system also supports various hardware and software requirements, including specific processor, operating system, memory, storage capacity, and communication specifications. d. Describe the bank’s information reporting capabilities.

Our proprietary PaymentNet system provides the tools and information for the City to effectively manage your commercial card program activity. PaymentNet reports all data passed by merchants at the point of sale.

Monitor your spend to help support policy compliance, identify frequently used vendors, support auditing requirements and analyze expenses by hierarchy level. The features and functions of our reporting solution include:

PaymentNet feature How you benefit
A library of reports covering
key operational categories
Meet common program needs with reports categories of accounts, administration, cardholders, merchants, and transactions, as well as in-depth reports if you use our virtual cards
Options for generating reports
on-demand or on a pre-set
schedule
Create daily, weekly, monthly, by cycle, quarterly and annual reports in real time or set up reports for automatic generation based on your goals Tools to tailor reports Use filters and queries to refine report information and yield the precise details to meet specific objectives, provide to special audiences
Flexible output formats Download for further analysis or archive reports in Excel, PDF and CSV format and print copies as needed.

Email notification Set up notification via email when a report is ready to view or download Information access 24/7/365 Simply use a secure web browser (e.g., Firefox or Chrome) and enable JavaScript and cookies for authorized users to virtually access their PaymentNet accounts and reports

Exhibit C – Scope of Services | 121 |
e. What is the settlement deadline and billing cycle options? We offer a wide range of billing cycle closing dates, allowing the City to select the date that is most appropriate for your calendar. This date can vary for each subsidiary that has its own accounting system.

Billing runs on a 30-day cycle with payment due 25 days after the end of the cycle. There are several flexible payment options, with shorter payment cycles tied to reduced credit exposure and improved rebates. f. What daily and monthly reconciliation reports are available? PaymentNet generates several standard reports that contain transactions made during a billing cycle:
● Statement of Account: This report provides a listing of previous cycle transaction information as well as accounting code allocations, transaction notes, custom fields and transaction addendum detail when available.
● Transaction Summary by Hierarchy: This report provides summary information on spend by hierarchy and cardholders within a defined cycle/period. It includes the total number of debits and credits, total dollar amount of debits and credits, and the aggregate total of all debit and credit transactions.

Reports can be scheduled to generate on a recurring basis or run on demand. Note that transaction reports are not official bank billing statements and cannot be used for remittance purposes.

Our clients report a matching and automatic reconciliation rate of

97.5% to 99.9%.

The reconciliation file sent from PaymentNet to the City’s ERP system can assist you in identifying discrepancies such as partial payment amounts.

PaymentNet also provides exception reporting on all of your transactions (e.g., the Order Audit and Unusual Activity Analysis reports). In the rare case when an automatic match does not occur, your program administrator can manually reconcile the transaction in PaymentNet.

Your Tyler Enterprise ERP system can be configured to mark a transaction as paid/cleared when the transaction has posted and reconciled or when the payment is made for the posted transaction. g. Describe the payment options.

Our standard settlement format for centrally billed accounts is auto debit (also called direct debit); however, the City can select other forms of payment, such as ACH, check or wire.

Please note that if the City elects individual bill/individual pay, auto-debit is not an option. Cardholders may make payments by check, our pay-by-phone voice response unit (VRU) or your bank’s online bill-pay service.

If the City elects individual bill/central pay, “ACH CTX 820” is the preferred method (includes additional details with the ACH payment letting us know how to allocate the payment to each individual account).

We accommodate the following payment options:

Increase Efficiency Achieve an automatic reconciliation rate of 97.5% to 99.9%.

Exhibit C – Scope of Services | 122 |
● Auto debit: Auto debit payments are electronically withdrawn each month. (Note that your organization is responsible for updates to account information.) Your implementation associate will help set up this functionality.
● ACH CCD: J.P. Morgan currently accepts Cash Concentration or Disbursement (CCD) and Cash Concentration or Disbursement (CCD+) corporate ACH payment types for a single billable account.

The remittance account number must be provided with each payment. The CCD or CCD+ is standard for corporate bill account payments.
● ACH CTX: The CTX or Corporate Trade Payment includes an EDI 820 that allows the City to send remittance instructions for one or more card accounts. This payment type is acceptable for one or more corporate bill account payments, or a combination of individual bill and corporate bill account payments. If the City wishes to use this method, your implementation team will assign a technical consultant to your program.
● Check: You can pay by check for individuals or as a consolidated payment. Please note that checks must be accompanied by remittance that includes the FULL 16-digit account number to where the funds should be applied.
● Online Bill Pay: Individuals can submit payments through their bank’s online bill payment platform. ● Wire: Use this option when accompanied with a full 16-digit account number and sent to DDA 5241618. A valid 16-digit credit card number and company name must be provided in the description field in the wire form for proper payment posting. Failure to provide valid 16-digit account number can delay or cause payment to not be posted.

Payments made by ACH will be posted, once received, within two business days if accompanied by full remittance information; payments by check will also be posted within two business days of receipt if accompanied by full remittance information.
h. Describe card control and usage restriction options.

We offer numerous card controls and key administrative features such as full hierarchy support, real-time adjustments of spend controls online and denial at the point of sale for transactions that do not meet your requirements.

The City’s program administrator can establish dollar, transaction, merchant category code (MCC) and cash advance limits at any level of your hierarchy: by individual, department or for the entire organization.

Exhibit C – Scope of Services | 123 |
Control options by hierarchy level

Figure 27
PaymentNet provides a variety of controls for all level of your organizational hierarchy.

Standard controls available for our commercial cards include:
● Dollar limits: Dollar limit controls include cycle spend, transaction amount, daily spend amount, monthly spend, and spend limits by MCC
● Transaction limits: Limits can be placed on the number of transactions allowed per day and per month
● MCC restrictions: Limits can be applied to MCCs with a dollar amount, transaction value or the number of transactions allowed per day
● Cash advance controls: You have the ability to control monthly cash advance amounts or totally restrict the ability to use the cash advance options
● Guidance line: Suspends your ability to continue to use the card when the total balance reaches its limit
MCC blocking
The merchant category code (MCC) can be used to block merchants and set card limits. The City specifies acceptable and restricted merchant types and set restrictions for individual cardholders, departments or the entire organization.

Leverage up to 180 MCCs per group in as many as nine MCC groups. MCC groups can have a custom name applied for your internal purposes. Available limits include daily number of transactions, daily spend amount and monthly number of transactions. We can also place boundaries by MCC group to determine how much a cardholder can spend at a group of merchants. This MCC group limitation can be restricted by daily number of transactions, transaction amount and monthly spend.

As a best practice, clients usually establish templates of MCC groups that apply to different cardholder profiles. We are happy to assist you in opening or blocking MCC groups as needed.

Exhibit C – Scope of Services | 124 |
i. Describe the security features – including account number encryption policy.

PaymentNet’s system and network architecture are designed to promote the highest level of industry security standards while still offering limitless user access. PaymentNet security is based on digital certificate technology that uses certificates issued by recognized authorities, and internet-based access is restricted to secure, encrypted browser sessions using 128-bit TLS. Additional security measures include the following:
● Web servers protected by multiple, redundant hardware ● Firewall equipment and hardware augmented by an intrusion detection system ● No remote access by unauthorized third parties
● All servers on internal network segments, not accessible from the internet ● Data transfers based on TLS (default) or custom encryption arrangements made on a client needs basis (PKI, PGP, etc.)
Authentication
To control data and network access, we have established several strong authentication measures, including the following:
● PaymentNet uses an ID naming convention consisting of a three-part key: organization ID, user ID and password. Password entry is masked on all input forms. Users will only be prompted to enter their Organization ID if their user ID is not unique across all PaymentNet users. ● Program administrators can set passwords. Once created, a password is stored as a one-way encrypted token, and the actual password cannot be retrieved. ● Security event logging/monitoring for authentication and authorization failures can be provided to clients on administrative reports.
● File permissions are set on an as-needed basis and are frequently reviewed.

Encryption
PaymentNet uses industry-accepted encryption procedures, including:
● Encryption in all communications with the PaymentNet site or FTP server ● TLS for all HTTP; PKI, PGP, SecureExport and similar methods for file transfer and storage ● Typical: TLS 1.2, RC4 with 128-bit encryption (high); RSA with 2048-bit exchange Session management
Methods for session management include:

Exhibit C – Scope of Services | 125 |
● Session timeout features and timeout period
● Session management values established by use of a random user session ID and deleted at session termination
● Access to information beyond the login page secured from access after session is completed by application authentication against a session token on each page request ● Memory-based cookies used to manage session ID
● Persistent cookies used for local ID retention only
Application design
The following application design elements of PaymentNet also enhance security:
● Integrated features to eliminate caching of confidential data after user session completion ● Application architecture that includes separation of application, data, and security ● No utilization of standard Common Gateway Interface (CGI) programs or directories ● Dynamic directory listings disabled on web servers
● No persistent code downloaded to web browser clients
j. Describe the interface options with internal financial systems.

Rather than building an expense reporting system, PaymentNet serves as a complete online program management solution. The City will have full visibility from an expense/transaction perspective, whether purchases are business-to-business (B2B) or travel related. In addition, the City will have the ability to create an approval structure, based on hierarchy or other preference.

If the City elects to leverage the services of a traditional expense reporting provider to create expense reports, PaymentNet can easily share payment details, along with associated receipts via transmission.

Expense reporting is frequently managed through specially designed systems such as Oracle, Concur, Extensity, Gelco and Necho. Rather than simply mirroring the functionality of these systems, we have found that our clients prefer importing commercial card data directly from PaymentNet into these existing applications.

The advantages of this solution are twofold:
● First, our clients can continue to use the in-house systems in which they have already made significant investments (many organizations, for example, already have customized policies and procedures that are incorporated into these systems).
● Second, we have more than two decades of experience in this area and can map card data to virtually any expense reporting system. In addition, our clients work closely with J.P. Morgan’s technical consultants to help make sure that the data interface process works smoothly before the first commercial card purchase is even made.

Exhibit C – Scope of Services | 126 |
We have considerable experience and expertise in integrating data with our clients’ internal systems, including with Tyler Enterprise and the setup of Visa Commercial Format (VCF) file feeds. We also offer several other file options to fit clients’ data formatting needs, giving you additional benefits over a VCF (e.g., access to hierarchy data). The City’s product implementation specialist will consult with you on the transmission method that best fits your organization’s needs. k. What is your fraud policy?
Receive the protection you need from fraud losses with our fraud screening process. Our communication process makes sure that the right person is contacted when we suspect fraud.

Benefit from fraud screening 24/7/365
As a result of our screening process, fraud rates for our Commercial Card programs are far lower than the fraud associated with consumer cards, which speaks to the strength of our fraud prevention practices, as well as our relationships with clients in establishing effective card controls.

Our team of experienced fraud prevention analysts use specialized screening tools to constantly monitor transactions for suspicious activity and to aid in detecting fraud and minimizing losses.

The fraud detection systems we use are flexible and target both general and specific fraud trends.

The screening process uses several indicators to identify possible fraud.

The categories we monitor include unusual purchases such as jewelry or electronics, high-risk MCCs and questionable geographic areas.

Cash advances are also monitored for high-risk locations and large dollar amounts. Suspicious transactions are further identified based on details that include the authorization type, merchant type, location of recent fraud trends, account history, expiration date entered and decline reason. If authorizations meet these pre-defined criteria, the account is sent to a fraud handling queue or blocked for referral.

Upon request, our Fraud team will provide a detailed walkthrough to the City’s executives and program administrators explaining how we address fraud in depth. The walkthrough includes collaboration with your program administrators to identify and implement ongoing improvements.

Communication process
When a potentially fraudulent transaction is identified, a fraud analyst will evaluate the account’s history and activity. If fraud is still suspected, the analyst will contact the cardholder to confirm card possession, verify the cardholder using security identifiers on file and validate the transaction(s).

Screening for fraud Criteria are defined based on analysis of data from current fraud trends: Fraud patterns Specific or high-risk Merchant Category Codes (MCCs) Dollar amounts and cash advances Geographic location Specific merchants and unusual purchases such as jewelry or electronics

Exhibit C – Scope of Services | 127 |
As an option, cardholders can enroll to receive fraud alerts via text message or email. Fraud alerts notify cardholders when suspicious transactions are identified on their account and allows them to quickly respond to validate transactions.

Depending on the circumstances, we may continue to monitor the account for suspicious charges or suspend it temporarily to minimize potential fraud losses. If we suspect employee misuse of funds, we will contact the City’s program administrator directly.

Enroll to receive potential fraud alerts via SMS text message or email

Under most circumstances, an email is sent to the cardholder at the email address on file and a temporary hold is place on the card. The hold will remain on the account until an authorized party contacts us to confirm the validity of the transaction. After the first attempt, we will email the cardholder a second time. On the third attempt, we will email the cardholder and program administrator.

Cardholders can sign up for SMS and email through the fraud alerts process by visiting ccportal.jpmorgan.com. Once the cardholder is registered for alerts, the cardholder is notified via an alert when we find suspicious activity on their account.

If the cardholder is signed up for SMS alerts and a transaction is identified as suspicious, an SMS alert is sent to the cardholder’s registered phone number. If the transaction is valid, the cardholder can respond indicating such and the hold is removed. If the cardholder responds indicating the transaction is fraudulent, the hold remains and the cardholder is required to call Customer Service.

Process for identifying and communicating fraud (if not enrolled in alerts)

Figure 28
These steps help to mitigate fraud losses.

Exhibit C – Scope of Services | 128 |
Additional fraud protection
As a client you also benefit from our third-party fraud waiver and Visa’s liability waiver for employee fraud to complement our fraud screening.

Due to the sensitive nature of fraudulent transactions, we require that fraud be reported by phone to an expert in our Fraud department. Reporting fraud by phone makes sure that all fraudulent transactions are identified as soon as possible. The card is blocked and no further transactions can be processed, immediately stopping fraud attempts.

There are also systematic processes to provide for timeliness of opening and resolving a fraud case, as well as requirements put in place by Visa. In most cases, we can provide a complete resolution in one call, which avoids multiple call-back attempts and saves time on resolving any open issues. l. Do you have rebates for purchases?
Yes, the City’s Commercial Cards are structured with a competitive rebate schedule.

Our competitive rebate allows your organization to leverage efficient payment solutions at no direct cost while generating revenue relative to spend.

Please refer to the Cost Proposal for rebate details.
m. Describe your rate and fee structure.

Our rate and fee structure for credit cards includes various components. Please refer to our Cost Proposal. n. What are your virtual card options - including one-time use payments.

Virtual cards at J.P. Morgan provide an electronic, credit card-based payment method that helps clients like the City more efficiently manage your payment process. Virtual cards also help reduce costs and transform traditional areas of expense into potential revenue generators.

We offer a true virtual card solution. Each virtual card has a credit limit equal to the approved payment amount. With a design that creates just one account per payment, the merchant only has access to approved funds for a specific payment.

When all four key elements of purchase payments to transactions match—account number, dates, dollar amount and merchant category code (MCC)—reconciliation occurs automatically. A reconciliation file is then delivered to the City’s ERP system.

We offer various integration options for virtual cards—API, batch and online—that leverage PaymentNet.

Several of our clients leverage API and batch for specific use cases. These clients enjoy a cohesive/consistent experience with the robust capabilities that PaymentNet offers.

Exhibit C – Scope of Services | 129 |

Couple powerful payment control, anti-fraud and reconciliation features with the flexibility, float and rebate of a purchasing card.

When you replace less efficient payment methods, such as checks, with virtual cards, you hold onto cash longer while paying suppliers sooner.

Streamline program management
As part of our virtual card solution, access our industry-leading PaymentNet system, the engine that interfaces with Visa to create your accounts.

Use PaymentNet for account and transaction management, advanced reporting, activity monitoring, statement access, reconciliation and data integration tasks.
o. Include three (3) references.

We are proud of the relationships we have with our clients. The clients listed below have agreed to serve as references for our Commercial Card and core banking offerings, service and functionality as applicable. We have attempted to select clients that are similar in size and scope to the City, allowing you to accurately assess our compatibility with your organization. We have also sought to balance perspectives from long term clients and recent implementations. Preference was given to clients who also leverage a Tyler ERP instance.

INCREASE EFFICIENCY Use PaymentNet to: Automate administration Gain more control over payments Streamline account reconciliation

Exhibit C – Scope of Services | 130 |
City of San Luis Obispo
Contact Name, Title Emily Jackson, Finance Director
Address 990 Palm St, San Luis Obispo, CA 93401
Phone (805) 781-7125 Email [email protected]
Length of time services provided 8 years
Services Commercial Card (Purchasing Card)
Other Banking Services include but are not limited to: online banking services, liquidity management, core depository services, lockbox, branch and vault deposits, core disbursements and merchant processing

City of Santa Monica
Contact Name, Title Sean Tong
Address 1685 Main St, Santa Monica, CA 90401
Phone (310) 458-2201 Email [email protected]
Length of time services provided 1 year
Services Commercial Card (One Card)
Other Banking Services include but are not limited to: online banking services, liquidity management, lockbox, branch and vault deposits, core disbursements, and fraud protection services

City of Surprise
Contact Name, Title Mari Lugo, Revenue Manager
Address 16000 N Civic Center Plaza, Surprise, AZ 85374
Phone (623) 222-1843 Email [email protected]
Length of time services provided 10 years
Services Commercial Card (One Card and Virtual Card)
Other Banking Services include but are not limited to: online banking services, liquidity management, lockbox, virtual reference numbers, core disbursements, and fraud protection services

Exhibit C – Scope of Services | 131 |

24. Disaster Recovery
a. Describe the bank’s formal and tested disaster recovery plan.

The Firm has a dedicated Technology Resiliency Program that establishes critical services, capabilities, controls, and procedures designed to promote continuity and recovery of operations in case of a disruption.

The program focuses on rigorous recovery scenarios and testing based on criticality and takes an “all hazards” approach to resiliency to include events that have a cyber nature.

For additional information please see the enclosed overview of our Enterprise Resiliency Program, Appendix

3. b. How quickly will back-up facilities be activated? We have established policies and assigned responsibilities to make certain that appropriate contingency plans are developed and maintained for each business area that supports J.P. Morgan Access. The intent of these contingency plans is to confirm the continued operation of critical systems in case of a disaster, emergency or other unforeseen events threatening interruption of these systems.

Your client service associate will remain in constant contact with you in a contingency situation.

The bank’s client services and technical support teams monitor a number of indicators to measure network availability and response speeds. Statistics are gathered monthly. As of July 2025, the J.P. Morgan Access average uptime was 100%.
c. Describe the bank’s operating capabilities to assist the City in the event of a disaster or declared emergency.

Recovering from, or even avoiding a service disruption, whether a component failure or a full-scale disaster, depends on a comprehensive and effective contingency and business resiliency planning process combined with experienced people to execute the plan. Our business resiliency plans address all aspects of the business—including employees, facilities, systems, telecommunications, and third parties. Our business resiliency plans are living documents that we update on an ongoing basis to incorporate lessons learned. They are also tested regularly to validate the effectiveness and
completeness of the plans.

The preparation
We understand how critical it is to have a business resiliency program in place. When the news hits about potential disaster situations, such as a hurricane, our business resiliency planning program has already activated.

Planning for disasters The importance of preparation Our global footprint provides built-in redundancy for many core processing, operations and service delivery functions. We have strategically located data centers and operation centers throughout the world. This geographic distribution helps to reduce the impact of a local disruption on our business.

Exhibit C – Scope of Services | 132 |
We do extensive planning to be ready for situations where our clients may lose critical infrastructure and resources necessary to transact business, including payroll and deposits, through typical channels.

Our preparation involves information gathering about our clients in the impacted region. This allows us to provide clients with alternative options for issuing checks, submitting payroll and other file transmissions before a hurricane or other disaster event strikes the region. An overview of our Business Resiliency Program is included in Appendix 3. Additional considerations are listed in the below section for helping you plan your organization’s business resiliency program.

Considerations when creating your business resiliency program We also recommend best practices for our clients’ internal business resiliency planning efforts, such as the following:
● Verify your mobile information is updated with us, so we can contact you in case you are unable to reach
your offices.
● Plan for having sufficient cash on hand to be ready
when your business reopens.
● Make certain any services that are part of your
business resiliency planning program are setup in
advance. For example:
 Use J.P. Morgan Access to upload files if you
are unable to send in a direct transmission.
 Submit same-day ACH files to originate transactions less than $1,000,000. Update “opt out” status, if applicable.
 Consider deadlines for check print outsourcing as part of your business resiliency planning. — Next-day mail – 5:00 p.m. PT
— Same-day mail – 5:30 a.m. PT
 Coin and currency
— When using vault, confirm armored courier contact information is up-to-date with your courier.
— When using night drop, consider alternative locations in case the primary location is not available.
 Commercial card clients may want to consider contacting your commercial card relationship manager or program manager for assistance with increasing limits, expanding merchant category code groups or verifying account status.

We’re here to help! The importance of preparation In the event of a disaster, we strive to maintain service at the levels established during normal operations. We will work hard to keep our clients informed throughout the entire event.

Exhibit C – Scope of Services | 133 |
How we helped
We understand the need to have a bank that helps clients navigate both living and working through an actual disaster and the aftermath. We have employees on the ground for these natural disasters, just like our clients, so we understand how our collective businesses and people are impacted by a disaster. We work hard to be there for you and our own people. Understanding our clients and their businesses is key. We were here for our clients when they needed us most. The following examples illustrate how we help our clients during these events:
● After a natural disaster, J.P. Morgan immediately begins its recovery efforts, including prioritizing cash shipments to branches with the greatest needs, and refunding or waiving certain fees to eligible customers in the affected areas.
● Relationship managers worked with clients to quickly
determine cash flow concerns.
● Our client services associate’s (CSA) knowledge and
understanding of their clients helps them identify the need for action. The constant outreach by our CSAs, coupled
with their understanding of our clients’ needs is an
invaluable asset for J.P. Morgan that provides many
benefits for our clients.
● Our product teams evaluate the storm and take action to determine how the storm may affect our clients. This
prompted a relationship manager and client service manager to reach out to a client to determine their immediate needs. One client’s large geographically disbursed retail presence had them making fast decisions and quick changes. The client was extremely appreciative of our efforts and stressed that of all of their banks, J.P. Morgan was the most effective with communication. We provided daily reports about open branches, allowing this client to make informed decisions about how to make deposits, while battling the floods and effects of the storm. ● Our employees receive emergency housing or other assistance from J.P. Morgan after a natural disaster has happened. While the business is focused on taking care of its employees, the bank prepares to help communities across the country—even before a natural disaster has happened.

That includes making sure ATMs and branches have enough funds and are up and running so customers can have access to their money when they need it.

25. Dispute Resolution Process
a. Describe your process for:
● Positive Pay
We have been an industry leader in offering a wide a variety of sophisticated fraud protection services to protect our clients and the bank from financial loss due to payment fraud. The laws governing checks and negotiable instruments, primarily in Federal Regulation CC and the Uniform Commercial Code (UCC), and interpretation of those laws have been changing to reflect a shared responsibility and partnership between How we helped! Communication Understanding time-sensitivity Understanding client needs Looking out for fraud Escalating issues and change requests

Exhibit C – Scope of Services | 134 |
clients and their banks. Therefore, we strongly recommend that the City use positive pay, payee name verification and other applicable fraud protection services, to prevent losses due to check fraud.

Each situation is different and will be examined and researched carefully by our Fraud Control team. The aspect of liability will then be determined on a case-by-case basis, after all the supporting facts have been reviewed.

Currently in most states, the UCC provides for defenses that can be raised to a claim of loss due to check fraud based on the following principles:

UCC principles
Ordinary care The observance of reasonable commercial standards that prevail in the area in which the person is located and with respect to the business in which the person is engaged.

Comparative negligence In situations where there is loss due to fraud, a court would compare the client’s negligence against the bank's negligence to determine who should be liable.

Contributory negligence The client could be found to have contributed to the loss if, for example, they fail to safeguard checks from forgery or alteration by a “reasonable commercial standard,” and that failure to safeguard contributes to the forgery or alteration.

Reasonable promptness Clients must exercise reasonable promptness in examining statements, or items to determine if any payment was not authorized and to notify the bank.

The UCC allows for certain terms to be modified by agreement, and most banks, through their account terms, require clients to review their statements within 30 or 60 days and report any errors. ● Paper checks
Each situation is different and will be examined and researched carefully by our Fraud Control team. The aspect of liability will then be determined on a case-by-case-basis, after all the supporting facts have been reviewed.

The laws governing checks and negotiable instruments, primarily in Federal Regulation CC and the Uniform Commercial Code (UCC), and interpretation of those laws have been changing to reflect a shared responsibility and partnership between clients and their banks. Therefore, we strongly recommend that the City use positive pay, payee name verification and other applicable fraud protection services, to prevent losses due to check fraud.

Currently in most states, the UCC provides for defenses that can be raised to a claim of loss due to check fraud based on the following principles:

UCC principles
Ordinary care The observance of reasonable commercial standards that prevail in the area in which the person is located and with respect to the business in which the person is engaged.

Comparative negligence In situations where there is loss due to fraud, a court would compare the client’s negligence against the bank's negligence to determine who should be liable.

Exhibit C – Scope of Services | 135 |
UCC principles
Contributory negligence The client could be found to have contributed to the loss if, for example, they fail to safeguard checks from forgery or alteration by a “reasonable commercial standard,” and that failure to safeguard contributes to the forgery or alteration.

Reasonable promptness Clients must exercise reasonable promptness in examining statements, or items to determine if any payment was not authorized and to notify the bank.

The UCC allows for certain terms to be modified by agreement and most banks, through their account terms, require clients to review their statements within 30 or 60 days and report any errors.

The bank has a designated fraud area that works closely with the client to send out and subsequently obtain any necessary information (i.e., affidavits of forgery) to begin the recovery process. Concurrently, after being notified, the fraud recovery area immediately contacts the bank of first deposit in an effort to place a hold on any remaining funds in the account. Upon receipt of the appropriate documentation from our clients, the bank’s fraud recovery area will then forward the necessary information to the bank of first deposit and continue working the case until an official response has been received back.

J.P. Morgan and the banking industry standard operating procedure is to issue a credit to a client’s account once the investigation has been completed and the reimbursement is received from the bank of first deposit.

Breach of warranty resides with the bank of first deposit. On average, a claim may take 90-120 days to resolve. The credit usually takes place within three banking days after receiving the reimbursement check.

There is no governing time frame for a response. If we receive a denial, no credit is issued. ● Payments and Deposits
J.P. Morgan’s account and service terms documentation specifically addresses this question and will control in case of fraudulent deposit items. Generally, we accept liability (subject to express limitations) only to the extent caused by our breach of contract, negligence or willful misconduct.

J.P. Morgan Access Transaction Services provides you tools to initiate inquiries and amend and cancel payments, all with a built-in audit trail.

Easily initiate:
● Inquiries for wire and ACH transactions: Request additional information, assistance or action from the bank related to your transactions and to make changes if desired ● Deletions: Stop an ACH transaction from being processed prior to any movement of funds ● Reversals: Reverse a payment that has already been processed by the bank Alternatively, for ACH payments, you can modify or delete a transaction using ACH file warehouse or you can transmit a reversal file to the bank.

Analicet Burciaga has the authority to engage all levels of management, as well as to escalate both within the Client Service organization and across all J.P. Morgan departments. In addition, your CSA will regularly communicate with your treasury management officer, so all parties supporting you are informed of your relationship activity. Your CSA and treasury management officer will coordinate to verify that issues are resolved, and will engage additional resolution contacts within J.P. Morgan as necessary.

Exhibit C – Scope of Services | 136 |
● Lockbox
One of the advantages of our network is our service staff. Your designated CSA, with backup, handles all of your lockbox adjustments and error resolutions.
● Others
Our established escalation process for Commercial Card includes designated points of escalation for the City’s cardholders, program administrators and contract administrators.

Our support specialists are empowered to make key decisions and act on behalf of the bank to promptly assist the City with any issues that may arise. With our “one call” service philosophy we aim to resolve matters quickly and to satisfaction, without requiring a second call.

Research and escalation processes are in place so that your employees receive timely, dependable support when immediate issue resolution is not feasible.

Disputes can be initiated by calling the number on the back of card or via PaymentNet. b. Are there any established turn-around times for research and adjustment items? If yes, please specify.

The turnaround for inquiries is dependent upon the complexity of the request, but most research inquiries can be completed in a matter of hours. Our goal is to provide timely updates.

26. Vault Services
a. Describe your vault services (i.e., location, deadlines, preparation, technologies).

We offer flexible depository services to meet the City’s check and cash deposit needs. As one of the largest depository banks in the United States, we have made investments to maintain greater control over the quality and efficiency of each transaction. Use our cash vault services for deposits if your average deposits exceed Chase branch thresholds.

Offering convenient cash vault services
Benefit from making cash deposits from your location(s) using our cash vault services. You arrange to contract with an armored courier to drop off deposits at one of our more than 100 vault locations. We recommend you use our Los Angeles, California vault in Montebello.

Exhibit C – Scope of Services | 137 |

How cash vault services works
Step 1: Your selected armored courier picks up your deposit bags and delivers them to our Los Angeles cash vault site.

Step 2: Your deposits are processed and credited to your account by cash vault processing specialists using our advanced equipment.

If we receive your deposit prior to the cutoff time (8:00 p.m. for cash-only and 5:00 p.m. local time for mixed deposit at the Los Angeles vault), we provide provisional, same-day ledger credit and may convert your cash deposits into usable funds on the same day.

Coin deposits greater than $10 may be credited to your account on a delayed basis.

Step 3: Your cash-only deposit transactions post to your designated DDA with the deposit bag number and deposit ticket date to assist with your reconciliation. Verification of the cash occurs within 48 hours.

Step 4: Choose your notification method for any discrepancies (if any) during implementation.

Step 5: Request an email notification of adjustment information, a mailed advice on the day following verification or access to our Web Currency Services portal to view your account detail.

Please, keep in mind:
● Adjustments post electronically to J.P. Morgan Access, our banking portal, and to your bank statement
● Included are:
 A cash credit or debit adjustment with the dollar amount  Your account number
 Original deposit amount
 Original deposit date
 Processing vault ID and adjustment

Exhibit C – Scope of Services | 138 |
Please refer to Appendix 5 for our Cash Vault Services Deposit Preparation Guide. b. Describe supporting technologies
Our cash vault sites use a variety of scanners and sorters. The brands used are proprietary and not disclosed.
c. List the fees structure.

Please refer to the Cost Proposal.

D. CONTROL

1. Specify whether the online capabilities are accessible 24/7. If not, list the hours of availability for each service.

J.P. Morgan Access is available 24/7, except for scheduled maintenance. Each weekend, maintenance on the banking portal is conducted from 2:00 p.m. Saturday until 10:00 p.m. Sunday PT. Users may not be able to access the portal for information reporting and transaction initiation during this scheduled time.

2. Regarding Data Security and Anti-Fraud Procedures, describe your institution’s overall security system to safeguard the City’s funds, preventing fraudulent transactions, and identify and alert the City of irregular/abnormal transactions and transaction patterns. The institution shall serve as a partner in the City’s internal control framework on the banking/cash-handling-related functions.

Please identify technologies you have in place that will assist the City in improving its internal control effectiveness.

Protecting against cybersecurity threats is a 24/7 operation.

It’s not a question of if an organization will be hit, but when it will happen.

Awareness and education remain crucial steps to help
protect against fraud as cybercriminals target organizations both large and small throughout the world.

By reviewing and testing your organization’s resiliency and recovery plans before an actual cyberattack occurs, your organization can be better prepared to manage responses to employees and the public.
“The threat of cybersecurity may very well be the biggest threat to the U.S. financial system.” Jamie Dimon, Chairman and CEO JPMorgan Chase & Co.

Exhibit C – Scope of Services | 139 |
Elements of good cybersecurity hygiene

Figure 29

Value beyond the incentive plan: Cybersecurity and threat mitigation J.P. Morgan can help your organization anticipate threats, prepare defenses and coordinate action to counter against financial attacks. The resulting benefit: cost savings and greater peace of mind.

Our approach to cybersecurity is based on three key principles:

Awareness
J.P. Morgan can help identify potential threats to your organization and recognize the symptoms of a weak defense or mitigation structure.

We provide client education briefings to inform you of the latest threat intelligence, which you can use to help identify strategies to enhance your cyber and fraud programs.

It is equally important to understand the liability threats associated with approved transactions, along with the protections (or lack thereof) associated with different payment types.

Allow us to help put threats into perspective by sharing industry intelligence and the experiences of other businesses that have faced similar challenges.

Exhibit C – Scope of Services | 140 |
Collaboration
No product or service solution can fully protect
against fraud on its own. Organizations must be
diligent and willing to evolve as attackers become
bolder and more creative.

Together, we can collaborate with other
organizations, including federal and local law
enforcement, to better protect your interests and the
overall financial environment.

Preparedness
The best protection is preparation. By sharing industry best practices, we can help your organization assess, manage and develop plans to reduce your exposure. Better security can lead to greater financial stability and improved cash flow.

Moreover, we help put those plans into action using test scenarios. Hosted simulations demonstrate the real- life implications of an attack and help gauge organizational resiliency.

Once you are able to establish the viability of your security structure and practices, we can continue to work with you to suggest ways to close gaps and bolster defenses.

Hosted simulations
J.P. Morgan can host tabletop exercises that simulate a ransomware attack scenario. The simulations mimic real-life implications of an attack and help test an organization’s resiliency strategies.

Resiliency plans should be tested regularly and enhanced with simulated drills. Scheduled testing gives an organization the opportunity to identify gaps, implement necessary changes and boost employee efficiency with resiliency procedures.

Please refer to the Cybersecurity and Technology Client Letter in Appendix 11.

3. Describe the electronic and/or manual system used to provide the proposed services along with backup and recovery capabilities.

With J.P. Morgan Access, the City receives a highly intuitive and easy to use, cash management solution that seamlessly integrates all treasury activities through a secure portal using a single authentication process.

Advantage for the City: J.P. Morgan Access ranked #1 in payments and treasury management. 2024 Coalition Greenwich Digital Banking Benchmark study

“We constantly explore the use of new, innovative technology to detect cyberthreats quickly and efficiently. We continually work with public and private sector partners to help protect the financial sector.” JF Legault, JPMorganChase Deputy CISO

Exhibit C – Scope of Services | 141 |
As an integrated cash management platform, our online portal transforms the way treasurers manage and monitor cash balances, daily transactions and information. Our service is proof of our dedication to investing in leading edge technology, product innovation and improving the client experience.

Our comprehensive cash management system at a glance

Figure 30

The online portal represents a simple, intuitive and multi-functional channel that provides rich information and transaction capabilities with a single sign-on to product applications across the Treasury Services product line.

Comprehensive functionality provides secure, seamless access to products across our services. Review and manage data, customize treasury activities, initiate payments, coordinate entitlements and manage tasks with a single point of access to cash management.

Benefits of our approach: Online portal—simple, intuitive and integrated

Powerful security
Receive protection of privacy and authenticity of users, data and transactions when you access the portal via our sophisticated multi-layer security system

Exhibit C – Scope of Services | 142 |
Benefits of our approach: Online portal—simple, intuitive and integrated

Easy to use
Use a single sign-on and seamlessly access authorized accounts and functionality with automatic upgrades when users sign on

Saves time
View critical information at your fingertips on your customized home page—with features and capabilities that are just a few clicks away

Alert notifications
Set up a variety of customizable business critical alert notifications to save you time and make sure you don’t miss anything

Decision support interfaces
Manage your data effectively using filtering and export technologies

Virtually effortless administration
Security administrators use simple and intuitive tools to manage frequent user entitlement changes in real time, and save time with features like cloning entitlements and cloning account and user groups

Flexibility
Select the services required to support your current business environment and add additional services as your needs evolve

Self-service training and education
Access a single and consistent location called the Access Help Center for product and service learning options, a guides library, an intuitive online webinar registration tool that allows your staff to participate as needed—plus other tools and resources

Backup and recovery capabilities
We have established policies and assigned responsibilities to make certain that appropriate contingency plans are developed and maintained for each business area that supports J.P. Morgan Access. The intent of these contingency plans is to confirm the continued operation of critical systems in case of a disaster, emergency or other unforeseen events threatening interruption of these systems.

Your client service associate will remain in constant contact with you in a contingency situation.

4. Who would the City contact to initiate day-to- day banking transactions if online capabilities and functionality are temporarily unavailable?
Your client service associate will remain in constant contact with you in a contingency situation and can assist in facilitating banking transactions.

Exhibit C – Scope of Services | 143 |

5. Include a copy of the Service Organization Control (SOC) reports conducted under the Statements on Standards for Attestation Engagements No. 18 (SSAE 18) regarding controls.

JPMorgan Chase Bank, N.A. has engaged a public accounting firm to perform a System and Organization Controls (“SOC 1”, formerly referred to as SSAE16 or SAS70) examination of certain treasury services operations and SOC 1 reports are provided in Appendix 12.

In addition, we have a letter outlining J.P. Morgan’s Information Security Program and Technology Governance. Please refer to Appendix 11 for our Cybersecurity Overview client letter.

J.P. Morgan has a comprehensive internal risk framework designed to provide a sound and well-controlled operating environment. This includes a rigorous Operational Risk Management program that requires assessment and testing of operating controls, complemented by policies, procedures and metrics, as well as a comprehensive, risk-based internal audit program. For information about the firm's internal controls please refer to the JPMorgan Chase & Co. annual report for management's assessment of the effectiveness of its internal control over financial reporting and our independent auditor's opinion on the effectiveness of the firm's internal control over financial reporting. The annual report is available at:
http://investor.shareholder.com/jpmorganchase/annual.cfm

6. Describe the bank’s security procedures for its information reporting system, both for access and information protection.

Our online portal uses a multi-layer security system designed to protect the privacy and identity of users, while maximizing data and transaction integrity.
● Control: The City’s security environment is maintained by your assigned security administrators, who create and authorize users for online services. Using online administration tools, security administrators can lock down security with precise user entitlements, limits and account settings and generate entitlement reports to meet auditing requirements. ● Two-step logon: The system uses an enhanced two-step logon to help validate that users are accessing the authentic J.P. Morgan Access website.
● Single Sign-On: A distinct user ID and password give the City’s users access to the platform and product functions that do not involve the initiation of value-bearing transactions. Users entitled to transaction initiation or that fall under certain regulatory requirements will also require a security token to log on.
● User authentication: During the initial access to the server, users’ identities are validated against their registered profiles.
● Log on control: After three log on attempts, the system automatically locks out a user who enters an invalid password and generates an entry in the security log. The three failed log on attempt restriction prior to disabling a user is on a per session basis. This is set by our systems. ● Computer registration: Each time a user logs on through an unrecognized computer, the system prompts the user to re-register the unit using an activation code delivered via an out-of-band channel, such as email, help desk or in person by a City security administrator. ● Digital signature: Authentication is required for users accessing functions involving value-bearing transactions or security activities (e.g., wires and ACH). We use a two-factor authentication process:

Exhibit C – Scope of Services | 144 |
 Digital signature authentication is achieved through J.P. Morgan’s patent-pending solution leveraging RSA SecurID token technology to provide signatures.  Users enter their user ID, password and RSA SecurID token code when logging on. They are prompted to re-enter their password and token code before moving funds during their secure session.
● Data protection: Industry-standard 256-bit Transport Layer Security encryption helps maintain confidential access and delivery of data, and transaction facilities. ● Session timeout: After 15 minutes of inactivity, users are automatically logged off.

Administrative functions with Manager
Your assigned security administrators maintain the City’s security environment in J.P. Morgan Access using the online administration tools available in Manager.

Manager provides simplified, self-service administration capabilities. It’s the security administrator’s one- stop-shop for all administration functions. It all starts with the Manager menu.

Manager navigation

Figure 31

Manager menu options help security administrators take action. View your administration options in the main Manage menu including:
● Manager Home is where you access your Company Overview to view your relationship summary and navigate to common pages to view more detail, including accounts, products and users; additionally you can approve requests and initiate user management. ● Relationship Browser is where you can see relationships between accounts, products & users to understand your relationship structure and verify user entitlements. ● Security is where you set up location groups, default user limits and same-day ACH functions, as well as manage tokens.
● Workflow & Configuration is the place to select approvers, set up approval rules and categories. ● Action Items is where you create new requests and view and edit user details.

Exhibit C – Scope of Services | 145 |
User entitlements
The City nominates your own security administrators to establish and approve users for accounts, services and functions using an online entitlement feature. As a standard practice, and to help the City maintain audit controls, a minimum of two security administrators are required for user setup and maintenance. ● One security administrator establishes users for accounts, services (e.g., ACH initiation, funds transfer initiation or balance reporting), and functions (e.g., reporting, transaction initiation and transaction approval or release).
● A second security administrator approves the user entitlements granted by the first security administrator.
● For each user created by a City security administrator, we establish basic authentication user IDs.

Digital signature authentication IDs are established for users authorized for transaction initiation and administrative functions.
● RSA SecurID tokens are assigned by the security administrator to those users who need to perform digital signatures.
● Users log on to the portal to start the new user identification process with the secured information provided in a welcome email generated after the user was created and approved by the security administrators. The user validates their contact information, leverages a one-time pin and creates their own password.
 This logon procedure, in combination with the acknowledgement and pre-established user entitlements, creates an electronic user profile that is employed for all J.P. Morgan Access communications with J.P. Morgan. Each user’s desktop view of the portal reflects the accounts, services and functions to which that user has been entitled.

Standard security administrator model

Figure 32
You can waive the requirement that a security administrator cannot make a change to their own profile providing that a second security administrator approves those changes.

Exhibit C – Scope of Services | 146 |

7. Is system administration performed by the bank or the customer? What functions does the security administrator perform?
The City’s security administrators will first establish their own basic authentication IDs and digital signature authority then use the online entitlement feature to establish and approve additional users for accounts, services and functions.

To help meet your audit controls, we require two security administrators to be involved in user setup and maintenance. Additionally, if security administrators are entitled to use product functions, such as cash reporting, wire initiation, etc., two other security administrators must prepare and approve the product function entitlements.

We may recommend the City enforce dual control within your organization as follows:
● One security administrator establishes users for services—ACH, wire, balance reporting, etc.—and functions—transaction initiation, transaction approval, release, reporting with account assignment, etc.
● A different security administrator approves the users for the accounts, services and functions established by the first security administrator.

To provide a complete audit trail, the system date/time-stamps and associates all actions executed to a request within the platform, including the user who performed them. These requests are available online and as download reports for historical review.

8. Is an audit trail report available, showing all activity, by whom and when, for each system? Our online portal offers a variety of audit reports detailing information on each user which are available to the City’s security administrators:
● Credentials Report: Includes user name, J.P. Morgan Access user ID, user status, credential status (password or token, last login date, user status and token expiration date). ● Entitlement Report
 Summary: Provides a high-level review of the products assigned to selected user(s) or user group(s).
 Summary + Details: Provides a detailed view of all assigned products, functions, capabilities and information for the selected user(s) or user group(s). ● Audit and Event Log: Captures each step in the transition and template workflow. Create, modify, approve, reject, activate, delete, etc. It also captures all activities for Reports, Statements and Loans.

The retention period for the Entitlement is up to 90 days. The Audit and Event Log is available for 365 days from the current date.

Exhibit C – Scope of Services | 147 |
User entitlements report

Figure 33

Exhibit C – Scope of Services | 148 |
Request Reports

Figure 34

9. Describe the types of insurance and bonding carried.

Please refer to Appendix 13 for certificates of insurance.

10. Include a copy of the bank’s most recent reports issued per the Statement on Standards for Attestation Engagements (SSAE 16) for any processes or systems relevant to the services under this RFP.

JPMorgan Chase Bank, N.A. has engaged a public accounting firm to perform a System and Organization Controls (“SOC 1”, formerly referred to as SSAE16 or SAS70) examination of certain treasury services operations and SOC 1 reports are provided in Appendix 12.

Exhibit C – Scope of Services | 149 |
In addition, we have a letter outlining J.P. Morgan’s Information Security Program and Technology Governance. Please refer to Appendix 11 for our Cybersecurity Overview client letter.

11. If not already covered in the SSAE 16 report, describe the disaster recovery plans for each proposed service for short‐ and long‐term disaster and power failure recovery.

The firm employs a Service Level Management Framework which align services and service levels with enterprise needs and expectations, including identification, specification, design, publishing, agreement and monitoring of the services, service levels and performance indicators. The process confirms service level agreements (SLAs) to manage business end-user expectations and satisfaction levels and to make certain agreed services are being delivered to requirements.

For additional information please refer to Appendix 3, for the overview of our Resiliency Program.

12. Describe any additional security measures available to the City to minimize the risk of unauthorized transactions in its accounts.

The Firm's Global Compliance Program focuses on overseeing compliance with laws, rules, and regulations applicable to the Firm's products and services to clients and counterparties.

The Firm is dedicated to participating in international efforts to combat money laundering and the funding of terrorist activities and has an Anti-Money Laundering Compliance Program (“AML Program”), which incorporates a Customer Identification Program, designed to address the requirements of the USA PATRIOT Act and other applicable laws and regulations, relating to the prevention of money laundering and terrorist financing. The Firm is also subject to the regulations administered by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) and has policies and procedures regarding the prohibitions and restrictions mandated by OFAC and all other sanctions laws and regulations applicable in the jurisdictions in which the Firm operates.

Compliance with the legal and regulatory requirements that govern the management of client relationships is critical for the Firm to protect itself and the international financial system from the abuses of illicit finance. Our firm is fully dedicated to full compliance with these legal and regulatory requirements.

The Firm has a compliance program and policies for addressing internal and external fraud, including reporting payment/wire fraud and anti-money laundering (AML) fraud.

Reporting payment/wire fraud
Fraudulent transactions reported to J.P. Morgan are addressed with a high degree of urgency with the referring party and potentially a recall request to the beneficiary bank, and if applicable, cases are reviewed internally for further investigation and if required, we will refer investigations to local government authorities.

J.P. Morgan also partners with industry organizations focused on mitigating fraud to share intelligence in an attempt to develop best practices.

Exhibit C – Scope of Services | 150 |
E. IMPLEMENTATION/CONVERSION

1. Please provide a detailed implementation and conversion plan which identify all tasks, estimated timeframes for the tasks, milestones, roles and responsibilities for the City and Bank’s personnel. A list of the minimum anticipated deliverables such as, but not limited to:
● Configure bank account structure
● Implement electronic banking and reporting
● Configure and test file transmissions and electronic communication channels ● Establish security and encryption protocol
● Implement ACH debit blocks, where appropriate
● Implement other banking services as determined
● All necessary processes required of the City’s current Bank to ensure a seamless transition.

Please refer to Section 8 for a sample implementation schedule. a. If a conversion team is used, how will the City’s account be transitioned to the ongoing client service team?
The City’s designated onboarding specialist will serve as your primary point of contact and is responsible for coordinating the implementation of your services. Your onboarding specialist is also the contact between all levels of your staff (e.g., management, users, technical staff and external partners) and J.P. Morgan.

Your designated onboarding specialist will schedule a kickoff meeting for large or complex Client Onboarding.

Key tasks, assignments and time frames are documented and shared with project team members. Your onboarding specialist will schedule subsequent meetings to track and support the progress of the implementation. You decide how often these meetings are held. We recommend meeting weekly for complex Client Onboarding.

Ongoing support is provided to you by the Client Service and Technical Support teams. These teams provide training, usage assistance and technical support via telephone.

Exhibit C – Scope of Services | 151 |
● The support provided by J.P. Morgan does not end once we implement your service(s). We believe continuous support is critical to your overall account relationship. After Client Onboarding, your designated Client Service Associate (CSA), Analicet Burciaga, becomes your ongoing contact to make sure that your expectations are consistently met.
● We will supply you with necessary product guides, procedure manuals and user guides required for the products and services being implemented. Additionally, we will provide training that is required or requested. Our objective is for you to fully understand our products so you can take full advantage of their benefits and features.
b. Indicate your plan for initial and ongoing education and training for City employees in the use of your systems.

We offer you a variety of methods for training, such as webinars, phone and short step-by-step prerecorded videos.

The following resources are available for our banking portal:
● Online resources: Available through the J.P. Morgan Access Help page, resources include online help articles, FAQs, guides and a range of live and pre-recorded webinar offerings on how you can use the J.P. Morgan Access products and services. Short how-to videos are also available from certain J.P. Morgan Access pages.
● Webinar training: Instructor-led sessions are available on many of our products. For J.P. Morgan Access, we have webinars for each of our products in the J.P. Morgan Access family. Each webinar lasts between 15-90 minutes. Webinar registration is available via the Help page. ● Phone training: Customized, one-on-one training conducted over the phone is offered to meet your specific needs for all J.P. Morgan Access products and services. To schedule a one-on-one session, simply contact Client Access Training, Monday through Friday, 4:30 a.m. until 4:00 p.m. PT.

During Client Onboarding and post-production, users and security administrators from the City are able to participate in real-time training with one of our skilled agents. Also, we will provide helpful user guides and support channels for technical or ad hoc questions as they arise. These include the Concourse Client Support Team, Payments Solution Center, and your dedicated Client Service Account Manager.

F. NEW SERVICES AND IDEAS

1. Provide information on how the bank plans to keep its product line competitive. Describe what approach the bank is taking in the development of new services, what new services and/or features the bank plans to offer, and what the estimated time frame is for providing any new services and/or features.

Our clients need to easily integrate innovative solutions into their daily business operations to take advantage of greater convenience, information accuracy and increased efficiency. We work closely with our clients to understand their current needs and anticipate future needs.

Exhibit C – Scope of Services | 152 |
For example, J.P. Morgan has a long-term commitment to leading the industry’s transition to electronic payments. We support the expansion of check image, internet-based technologies and the use of artificial intelligence for improving transaction return processing and limiting administrative returns, as well as automating fraud detection and prevention efforts.

Leadership and influence
Our clients benefit from our industry influence. J.P. Morgan Treasury Services is an active member of industry forums and roundtables sponsored by groups such as the Bank
Administration Institute (BAI), Association of Financial Professionals (AFP), X9 Accredited Standards Committee, hardware/software vendors, the Federal Reserve and the
National Automated Clearing House Association (Nacha).

Our involvement on boards and operational committees lends us opportunity to share the course and direction of the payments market. For example, our active participation on the Nacha Board of Directors, the Rules and Operating
Committee and the Clearing House Payments Association,
allowed J.P. Morgan to play an integral part in the formation of the new Nacha Same Day ACH Rule changes on behalf of
our clients.

Innovation
Client feedback and demand drive the development,
design and implementation of our product enhancements.

We constantly evaluate existing product delivery platforms and processes, gathering information from direct customer contact, internal customer contact personnel, other banks and regulators.

An example of this commitment was the creation of new
alerts and Transaction Services within our portal,
J.P. Morgan Access. Clients asked to be alerted when
there were issues with executing a wire transfer or when Fed or CHIP wire transfer funds were returned. These
alerts are now available on the portal’s home page.

Our financial strength and scale allow for significant
investments in technology that enhance the bank’s ability to provide ongoing improvements as technologies
advance.

STRATEGIC INVESTMENTS What we are doing to innovate We have hired thousands of personnel, invested hundreds of millions of dollars in new technology and implemented training and education programs. As of December 31, 2024, JPMorganChase had 317,233 employees globally, an increase of 7,307 employees from the prior year. Our employees are located in 66 countries with 59% of the firm’s employees located in the U.S. We have branches in 48 states and Washington D.C.

DELIVERING DIFFERENTIATION We deliver differentiation by distinguishing our product set and leading the industry in cash management solutions. We plan to further our leadership in product and payment capabilities by: Focusing on industry specialization Deepening industry-specific offerings Leading in payments solutions Integrating platforms Providing an excellent client experience Creating a smoother, simpler and faster implementation process

Exhibit C – Scope of Services | 153 |
The bank’s product and market management teams actively participate in the design and deployment of new and enhanced services. We continually innovate to enhance our client solutions, reduce processing costs and increase operating efficiency.

While explicit research and development costs are not disclosed, our technology investment, which includes technology, communication and equipment costs, is expected to be $18 billion for 2025.

Minimizing disruptions
As any change or update we make to our products has the potential to affect our clients, we focus on minimizing disruption when adding new features and enhancing functionality. Our development teams have years of treasury management experience. Our track record for implementing product enhancements quickly and effectively speaks for itself. Additionally, because we do not outsource development, clients work closely with our development teams and bankers to fine tune solutions, implementation and operations.

We continually enhance services based on client input, product expertise and quality management feedback.

Benefit from our commitment to significant resources and investments into product development and technology upgrades to continuously improve service quality and product offerings.

We evaluate all ideas and opportunities to understand client needs, market trends and strategic fit, then drive opportunities through a disciplined product development process, with standard deliverables and value-based decisioning along with entrance and exit criteria.

Clients say our approach fosters lasting relationships and positions us as innovators  Assess: Gather clients to confirm market penetration, competitive positioning and demand  Define: Work with clients or prospects to evaluate the value proposition and proposed pricing models, and identify high-level requirement
 Develop: Engage clients in hands-on evaluation of the proposed product or user interfaces  Validate: Live client interaction with production-ready capabilities to influence general availability and ongoing development schedule

Our New Business Initiative Approval Group manages product innovation and development life cycles by involving a cross-functional executive team. Hear about new bank initiatives and opportunities from James Calucin.

Exhibit C – Scope of Services | 154 |
Our product strategy focuses on delivering market-leading products with improved client experience.

Our long-term goal is to lead the industry in wholesale payments through all channels.

We continue to actively invest in product and service
development to close competitive gaps, address customer pain points and differentiate ourselves in the marketplace with value added services.

Innovation strategy
We understand your business and pain points. We focus on these themes for innovation to help you mitigate or resolve those pain points. Some new services and enhancements cross multiple themes to tackle multiple pain points with one solution.

Innovation strategies
Efficiency and optimization
Benefits to the
City
 Save time with cash flow forecasting, optimized liquidity and a reduction in manual processes
 Save money by establishing optimal ways to send and receive funds, reduce paper and remove friction
 Increase visibility with well-designed tools across all channels and geographies Recent
enhancements
 Mixed payment file transmission with virtual card
 Lockbox Decision Manager provides a review of all documents associated with a transaction to provide an accept or reject decision
 J.P. Morgan Real-Time Payments through API channels
 Global Mass Pay gives you the power to send low-value, high-volume cross-currency payments without an account in the payment currency
 Easier integration with ERPs
 Use Kinexys Digital Payments to instantly send and receive business-to-business payments using our first-ever digital currency powered by blockchain  Access now offers Confirmation Payment notification for all types of incoming and outgoing payments
 Cashflow360: End-to-end automation of core accounts payable and accounts receivables processes with automated workflow capabilities
 Virtual Account Management: Streamlined account structures and centralized processing with the vision of a single bank account leveraging an account sub-ledger Upcoming
developments
 Global Payments Strategy: Increase payment efficiency, maximize cost savings, increase smart metrics and unlock value of liquidity
MARKET LEADERSHIP Faster, efficient and secure payments Integrated product offerings across treasury, card and merchant solutions Ubiquitous, omni-channel experience Increased in self-serve capability and process automation Simplified global experience

Exhibit C – Scope of Services | 155 |
Innovation strategies
Ease of doing business
Benefits to the
City
 Participate in a smooth transition with technology that overcomes roadblocks provided by experienced onboarding teams
 Improve payables and receivables processes with fast and simple solutions  Spend less time onboarding and opening accounts
Recent
enhancements
 Cashflow360
 Know Your Customer (KYC) process simplification and shorter time frame  Chase Connect enhancements include a redesigned portal  Chase Connect Simple Pricing offers everything you need for one price  Additional APIs make it easier to connect with J.P. Morgan:
 Access APIs for reporting
 J.P. Morgan Real-Time Payments
 Integration with ERPs
Upcoming
developments
 Easier integration with more ERPs
 Virtual Branch (for some international regions): Eliminates the need to be physically present at traditional bank branches
 Exchange documents with your relationship team in a simple, secure way Enriched insights
Benefits to the
City
 Transformative data is contextualized, clear and actionable  Implement effective solutions through strategic consulting that matches each of your specific needs to the right solution
 Make the complex simple with comprehensive digital solutions that put everything in one place
Recent
enhancements
 Merchant Services integration with digital (J.P. Morgan Access)  Portal for supplier payments that creates lower risk exposure because we store suppliers’ sensitive bank information
 Data visualization provides dynamic display of transaction flows, interactive analytics dashboard and the ability to drill down to details
 Virtual card with real-time access and 24/7 availability Upcoming
developments
 Commercial card integration with Chase Connect
Risk mitigation
Benefits to the
City
 Identify potential gaps in fraud protection on your J.P. Morgan accounts  Reduce fraud exposure
 Enable more informed risk mitigation decision-making
 Increase resiliency and redundancy with multifaceted payment solutions  Stay ahead of cyber and fraud risk with a proactive defense

Exhibit C – Scope of Services | 156 |
Innovation strategies
Recent
enhancements
 Proprietary fraud diagnostic tool
 Leverage our Cyber Security Operations Centers
 Provide cyber fraud training sessions
 Focus on J.P. Morgan Access client security controls
 Early Warning advanced analytics integration through Merchant Services  Early Warning advanced analytics integration through ACH  Just-in-Time Funding
 Multibank Cross-Currency Sweeps
 Reduce your payment risk by going paperless
Upcoming
developments
 FinTech Evaluations

Optional services
We have gained considerable experience in pairing and tailoring our products to the specific needs of our public entity clients. Our ability to develop effective and relevant solutions, has earned an impressive reputation within the public sector.

Please refer to the following descriptions of the optional, value-added services and products that are most relevant to the City’s current situation in question 2 below.

We are dedicated to driving the payments industry forward with new and innovative functionality and products that provide our clients with the most flexible payment processing options available.

2. Describe any services, technological enhancements or otherwise, that the City should consider for improving operational or cash management processes.

Our particular expertise lies in adapting and aligning our vast breadth of solutions to the specific operating requirements and environments of our clients.

We accomplish this by listening to our clients and developing an understanding of their operating environments. We then construct a solution that not only meets our clients’ existing operational needs, but also challenges them to consider additional operational improvements.

It is our intent to bring this same approach to the City as we endeavor to strengthen and grow our relationship. The services below are proposed to augment and complement the requirements included in the RFP. Each of these services is incremental to the solutions presented in the body of our response. Pricing for these services will be provided upon request.

Exhibit C – Scope of Services | 157 |
Value-added optional product and services
● Merchant Services
● Check Print
● Digital Bill Payment
● J.P. Morgan Concourse
● Account Validation Service
● Entity Validation Service
● Iteration Matrix
● Paymode
Merchant Services
Merchant Services is a trusted industry leader in payments processing and a critical line of business under our J.P. Morgan Payments group, helping clients optimize, grow, simplify and protect their payments. More than 4,000 Merchant Services’ employees help organizations like the City implement and advance more secure and efficient payments programs that matter most to your customers, while establishing an optimal processing environment to help you streamline operations and optimize the cost of doing business.

Our market leadership is more than just numbers. We actively participate in industry and regulatory initiatives, and we are a leading institution in the development of international industry standards. We hold important positions on committees that shape the course and direction of each market where we provide customer payment solutions and pass the benefits of this influence and experience on to our clients.

Our global merchant processing volume for 2024 was more than $2.61 trillion and comprised of clients across a broad range of industries, segments and locations. Our proprietary platforms enable us to offer the City integrated solutions for all major payment types—from credit and debit processing to digital, alternative and mobile payment options. We support a variety of point-of-sale and card-not-present environments while providing security and reliability and a full spectrum of payments services we can tailor to meet your objectives.

Check print
We offer check print services for the City to outsource this function and leverage the bank’s economies of scale and fraud protection.

Let us help you lower operating costs and reduce risks associated with printing checks or remittances in- house with our comprehensive check print services.

Exhibit C – Scope of Services | 158 |
For nearly 30 years, we have helped clients benefit from outsourcing the check print function. Through significant infrastructure and technology investments in our U.S. printing facilities, we offer a low-cost, high- quality printing solution that is designed specifically for you and can be adapted as your needs change.

Security features built into the check itself
The City benefits from using check stock with the most robust security features in the industry.

New check paper stock provides security features, such as micro printing and an advisory icon.

Trying to move from paper to electronic payments?
We understand checks are necessary. Consider outsourcing non-core payables functions and migrate your workstream to begin the transition toward more electronic payment operations. Leverage a single, common electronic banking channel, either through direct transmission or the J.P. Morgan Access online portal, to initiate your check payment instructions electronically to outsource your check printing.

We also offer the option to streamline the digital delivery of checks for in-network lockboxes with CheckMatch. This enhancement identifies and routes checks for digital delivery, bypassing the courier, which reduces delivery costs and minimizes opportunities for fraud. Creating cash flow efficiencies allows the City to focus more on payee payment-conversion initiatives. To add value, we work with you to continue optimizing the payables process.

Worried about fraud?
Our check print service integrates with our suite of fraud prevention services to provide the benefits of positive pay services. We automatically generate and send the check issue information to our account reconciliation processing (ARP) platform and Chase teller systems across the country. Positive pay minimizes your exposure to check fraud, as checks presented must match your issue information, including the payee name.

Checks deposited at a Chase ATM are also screened against the positive pay records. Checks that do not match your issue records receive a funds availability hold against the check amount, allowing you to perform

Exhibit C – Scope of Services | 159 |
a positive pay exception review and a pay or return decision before the check amount is available to the depositor. Please note that payee name verification is not part of the ATM positive pay review.

We’re here for the long run
If your check payment volume is dwindling, does it make sense to upgrade and maintain equipment? Probably not, but capital investment makes sense for us, as our check print volumes have been increasing due to more and more clients outsourcing their processes.

Our advanced print production facilities use digital printing technologies to deliver accurate, high-quality checks. And, we maintain and upgrade our check printing equipment regularly. Recently, we invested $20 million in our redundant check print facilities. We print and mail more than 50 million checks annually, including 1.3 million checks per month, for our treasury services clients.

These are just some of the many benefits you realize in choosing J.P. Morgan as your check print outsourcing provider.

Digital Bill Payment
Your customers expect modern methods to view and pay their bills. J.P. Morgan has joined with Paymentus to offer a market-leading, paperless electronic bill presentment and payment solution. Through our collaborative relationship, we offer your customers a seamless and fast payment experience.

Our relationship with Paymentus, an industry-leading eBilling and payment solutions provider, unites innovative technology with the security and confidence of a world-class treasury and merchant services bank. The resulting solution, Digital Bill Payment, meets your needs for a simplified, secure and customizable experience. It gives your customers the ability to pay when, where and how they want.

Digital Bill Payment provides a single, integrated solution for web, mobile, interactive voice response (IVR) and in-person payments and more. Your customers can easily view invoices electronically through an online portal and pay a single invoice or multiple invoices with:
● eCheck
● Credit or debit card
● Digital wallets
● In-person cash payments
SIMPLIFY AND STREAMLINE Stay close to the payment life cycle Improve reconciliation Reduce paper float, improving cash flow Expedite collections with electronic payments

Exhibit C – Scope of Services | 160 |
Keeping it simple
As a fully hosted, single-vendor solution, Digital Bill Payment eases the burdens, pitfalls and fees that come with coordinating various systems. Our solution helps you better manage your billing and payment process.

You get access to a spectrum of services and capabilities with one connection and one integration.

Digital Bill Payment provides you with an omni-channel payment solution to meet your current requirements and your future growth opportunities, including PayPal, Venmo and many digital wallets. You choose when and how you enable them—whether it’s today or down the line as your needs change.

J.P. Morgan Concourse
J.P. Morgan Concourse™ is an end-to-end, digital, omni-channel solution. It provides the City with a seamless digital payout experience that lets you directly connect with your customers and suppliers through multiple channels, including a City-branded online and mobile portal that we host securely.

Concourse provides the City with an incredible amount of flexibility, including multiple payment methods, comprehensive reporting and integration options.

As a solution we fully own and support, Concourse delivers J.P. Morgan’s payment processing excellence, security and expertise to the City, providing you with a single end-to-end access point.

Helping clients meet their objective to own the customer experience The payments ecosystem is evolving faster than ever, and the City needs a provider that helps manage complexity and oversees your end-to-end payables activity across regions and rails.

Our new digital platform, J.P. Morgan Concourse™, is nimble and integrates disruptive and up-and-coming payments technology as it becomes available. The City is in control, and we can easily add (or remove) the additional methods of payment available as you desire. This flexibility even extends to changing options among different programs to meet respective line-of-business needs where regulatory requirements might exist. This is all available to the City via Concourse, allowing you to make changes on demand.

Providing a streamlined and intuitive user experience to the customer Our Concourse platform offers a modern, intuitive and simple interface to payees receiving payments from the City. Concourse offers automatic payment communications to payees via a City-branded email or SMS text. In addition, a City-branded customer portal is available where payees can review payment details and accept payments through their preferred payment method made by you.

Concourse offers the flexibility for the City to initiate payments to your counterparties intelligently and offer them a variety of payment options to choose from.
● You can opt to offer traditional payment methods, such as Check and Same Day or Next Day ACH. ● You may also choose more “instant” options, such as Zelle® and J.P. Morgan Real-Time Payments network or push to a debit card.

Exhibit C – Scope of Services | 161 |
● You have the ability to push funds directly to alternative methods of payments, including Venmo or PayPalTM digital wallets.

We offer a seamless experience for the City’s payees to select their preferred method of payment based on the payment options that you make available. Whether that individual is representing themselves or their business, our model is designed to support the City’s beneficiaries.

You can customize the payment reference information to make information available to payees in the Concourse interface, including adding specific legal verbiage or marketing adage.

Concourse provides the City the ability to apply customized content and styling to your payee facing portal while supporting multiple languages, such as English, French and Spanish.

Account Validation Service
As reliance on electronic payments continues to grow, so does the need to validate and authenticate payment data. Our industry-leading Account Validation Service (AVS) allows you to originate payments with confidence, combatting fraudsters and reducing threats.

AVS is a routing engine and service offering for validating counterparty payee information using the bank’s ACH data and Early Warning® databases. Using data provided by you, the service verifies the status and/or ownership of a U.S. demand deposit account (DDA).

AVS offers:
● Account Verification: Uses bank routing and account number to provide real-time account status for consumer and business accounts
● Owner Authentication: Confirms customer and business
identities and enables clients to confirm account owner or authorized user
Account Verification and Owner Authentication are not required to be done together.

Additionally, Account Validation Services:
● Enables proactive validation of accounts and does not rely upon a single data provider ● Offers a waterfall approach, which allows querying across multiple data providers, expanding reach ● Queries J.P. Morgan proprietary data—both credit and debit ACH transactions ● Offers a complete solution set to meet your account validation requirements and to satisfy compliance requirements with the Nacha WEB Debit rule
AVS for the U.S. government In 2023, the United States Treasury Department selected J.P. Morgan to provide Account Validation Services to federal government agencies after a competitive selection process. Using our advanced technology, we will verify critical payment information for the U.S. government before payments are issued.

Exhibit C – Scope of Services | 162 |
Act to combat fraudsters and reduce threats with J.P. Morgan Account Validation Services

Figure 35

Our solution allows for integration through multiple interface options, including API, file transmission or through manual single- or batch-level entry of inquiries into our J.P. Morgan Access online portal. Although we see that most clients only implement and leverage a single connectivity method, all three connectivity options can be used alone or in conjunction with each other and will leverage a range of data elements for the following attributes:
● Verify ABA and account number
● Verify account open or closed status
● Verify historical risk on accounts
Our AVS solution was built specifically to allow us to offer validation services to our client base without being tied to a single data or service provider. AVS optimizes the flow of information and real-time validation by leveraging multiple data sources, including proprietary J.P. Morgan ACH and account data, Early Warning and additional third-party fintech services and micro deposits to increase validation rates.

Exhibit C – Scope of Services | 163 |
How J.P. Morgan Account Validation Services works

Figure 36
(1) AVS with EWS databases meets the Nacha Rule Requirement (2) Option available based on clients’ needs
J.P. Morgan Entity Validation Services (EVS)
J.P. Morgan Entity Validation Services (EVS) delivers a convenient and secure method to help verify individual identity or business entity information in connection with your payments initiated through J.P. Morgan to help prevent fraud and manage risk.

Exhibit C – Scope of Services | 164 |
Consider the following uses for EVS as you think of fortifying your business processes

Figure 37

EVS provides two key verification functions
Identity Verification automates the verification of your individual client’s or counterparty’s personal identity data such as name, date of birth, address and government issued ID number(s) against internal and third-party sources prior to onboarding and initiating payments.

Business Verification automates the verification of a business entity’s data such as a business’ name, registered principal business address and government issued ID number(s). Also, you can expect verification of submitted related parties such as Underlying Beneficial Owners of the business and authorized signers.

How EVS works

Figure 38
(1) May include underlying variance details, third-party summary score, third-party reason indicators

Exhibit C – Scope of Services | 165 |
Help your business operate more smoothly—and securely
EVS offers many advantages to help your business:
● Reduces the risk of fraud: Verify identity of those that you do business with—in real time—to onboard counterparties onto payments platform
● Detect potential fraud: Review information from payee change requests before updating details, lowering instance of redirection of funds to unauthorized recipients ● Increase operational efficiency: Custom response mapping to support client decisioning based on internal payment risk tolerance, reducing operating costs of manual reviews ● Accelerate expansion of marketplace solutions: Validate counterparties for successful onboarding to your platform and be ready to sell and receive payments ● Enhanced security: EVS uses J.P. Morgans global network of trustworthy data sources and does not retain personally identifiable information
Make EVS work for you

Figure 39

Notice:

These services are not intended to, and do not, satisfy any regulatory or other requirements for the establishment or maintenance of any Sanctions, Anti-Money Laundering, or Know-Your-Customer program. Clients using entity validation service products remain subject to and solely responsible for compliance with their own regulatory and sanctions obligations. Use of the services does not constitute a guarantee that transactions will be processed for verified or screened counterparties.

Exhibit C – Scope of Services | 166 |
Iteration Matrix
For virtual card clients who have suppliers that only accept payments by phone or via a website, we offer a complementary solution through our collaboration with Iteration Matrix.

Iteration Matrix provides a suite of online tools to help unlock savings and generate efficiencies including pay by phone and web (credentialed and non-credentialed), continuous enrollment and a free supplier portal.

Clients can scale accounts payable (AP) programs with minimal effort as Iteration Matrix frees up customer resources for non-virtual card supplier payments.

Iteration Matrix operates a cloud-based Procure to Pay platform that is ERP agnostic and designed to automate and simplify the AP process. They have relationships with thousands of registered suppliers.

Advantages include1:
● Supplemental to your existing J.P. Morgan
Virtual Card program
● Minimal effort to deploy
● Continuous supplier recruitment and enrollment
maximizes virtual card rebates
● Free up resources for key critical AP tasks.
● Reduces inbound inquiries from suppliers by
accelerating communication within the supplier
portal
● Managed services for all payments through the
IM Platform
● Additional subscription services offered
 Intelligent invoicing: Eliminate keying of invoices into your ERP with fully validated invoice against your Purchase Orders with our AI OCR technology and invoice processing automation  Automated Statement Reconciliation Tool: Proactively reconcile statements for customer and suppliers
 Duplicate Payment Prevention Tool: Proactively identify potential duplicate payments that ERPs will miss
 Duplicate Payment & Missed Credit Recoveries: Recover funds from duplicate paid invoices or missed supplier credits with minimal effort

1 For the avoidance of doubt, J.P. Morgan and any third parties listed on this page have not entered into a legal partnership to provide the services described above. Third party trademarks, brand names, and descriptions of products and services that appear on this page are provided by the respective third party. J.P. Morgan is not liable or responsible for such trademarks, brand names, descriptions of products, companies and or services.

A quick history of Iteration Matrix Iteration Matrix is an industry-leading fintech company accelerating payments and specializing in procure-to-pay solutions. With over a decade of experience in AP automation and payables solution, IM has developed advanced, reliable, and scalable solutions for all industry segments providing high ROI returns. Strong network of over 14,000 suppliers and growing with a focus on customer assisted payments.

Exhibit C – Scope of Services | 167 |
Supplier portal
A supplier portal will be provided for all suppliers to:
● Look up invoice & payment status
● Export payment details for AR reconciliation
● Open AP support tickets with customer
● Engage with 24/7 live support with IM’s chat agent
Paymode
The Paymode payment platform optimize payments separately from, and after, vendor onboarding to the ecosystem. It is our position that this approach to payables optimization is not a “solution for the future” because it is less efficient and comprehensive than the proposed solution enabled through our collaboration with PaymentWorks. Our proposed solution fully automates vendor identity management and payment optimization while securing your ecosystem from the evolving threats associated with transacting in a digital world.

Optimizing payments after onboarding to the ecosystem requires buyers and suppliers to implement, manage and interact with two or more payment portals. It requires more engagement from IT, requires more daily buyer and supplier FTE effort, exposes buyers to more third-party and fraud risk. It targets segments of the vendor population through manual campaigns, not the entire ecosystem.

3. Please provide any additional information that your bank believes to be pertinent, but not explicitly requested elsewhere in the RFP.

Leadership, quality, client advocacy, investment, along with unparalleled scale and commitment to delivering our services on your behalf, differentiates us from other providers and position us to help you achieve your treasury goals.

Differentiator: Industry-leading client service and implementation

Client service. Based on our 2024 client survey, 90 percent of clients provided top overall satisfaction ratings with Commercial Banking Client Service, and agreed it is easy to do business with us. We are focused on delivering an outstanding service experience that is responsive, dedicated, proactive, engaged and experienced. Further, our expert team approach includes access to back-up support.

Implementation. In our 2023 post-implementation survey, nearly 90 percent of our Commercial Banking clients surveyed rated their overall experience post implementation as very good to exceptional. We know change can be hard and has a big impact on you, your team and your business. To simplify your banking experience, our onboarding model delivers simple, fast, digital and resilient access to the resources you need.

Exhibit C – Scope of Services | 168 |

Differentiator: Insight into industry trends and best practices

Thought leadership. We can help you improve your ability to more effectively and efficiently manage cash while achieving operational cost savings, allowing you to focus on your strategic objectives. Our financial experts leverage their in-depth knowledge of current trends, challenges and opportunities in treasury management to provide tailored financial solutions to help you meet your goals.

Treasury optimization. We develop tactical, analytical outputs to help you with bank and account rationalization, centralized treasury structures, performance benchmarking diagnostics, payables and receivables optimization.

Guidance. Integrate a new treasury practice seamlessly as our dedicated Corporate Actions team shares guidance on mergers and acquisitions, spin-offs, divestitures and asset sales. We help you prepare by evaluating existing banking services and cash processes, developing customized treasury integration plans for specific transaction targets and constructing roadmaps to consolidate, simplify and scale treasury activity to improve visibility and overall efficiencies.

Risk reduction. Optimize liquidity to minimize idle balances and free up cash. J.P. Morgan Access® Liquidity Solutions, available via our electronic banking platform, provides you the tools to manage liquidity and intercompany tracking.

Differentiator: Safety and security

Cybersecurity. We invest significantly each year in cybersecurity to maintain our defenses and actively enhance our threat resiliency. While we do a lot by investing millions in cybersecurity annually to protect our systems, it’s most critical to educate our clients—and you in turn, educate your employees—on how to take action to counter fraud and mitigate risk.

We help keep you abreast of the latest potential threats with our webinars.

And when you experience a threat, leverage our Cyber Security Operations Centers working 24/7 around the world with dedicated cybersecurity staff providing follow-the-sun coverage.

Safer payment methods. Besides providing fraud protection services like positive pay, we can help you accelerate conversion to electronic payments, use technology to monitor and reconcile transactions and outsource non-key functions, such as check printing.

As fraudsters become more sophisticated, we’ve collaborated with Early Warning to offer an authentication service for payer or payee account information prior to transaction processing. Let us help mitigate risk for your supplier payments and customer collections and curb the potential for fraudulent electronic activity and administrative returns.

Differentiator: Payment leader

$18 billion
Our 2025 technology spend budget that includes investments in cybersecurity

Exhibit C – Scope of Services | 169 |
Scale advantage: Capture scale from the firm that ranks #1 in U.S. dollar treasury and commercial clearing—as of 2023, processing $3.5+ trillion in daily wire payments and $40.3 trillion in originated annual ACH payments. You benefit from later deadlines, faster clearing and operating efficiencies.

Proprietary platforms. Integrate payments seamlessly through our proprietary payments and imaging platforms, as well as commercial card and merchant processing solutions.

Industry influence. Our key industry positions in organizations like Nacha, the Faster Payments Task Force and the New York Federal Reserve lend us opportunities to impact the payment industry and share first-hand insight on modernizing payments and drive change for our clients. We translate that to better products and services for you.

Differentiator: Treasury integration

Open banking: For years we’ve supported integration of clients using SAP, Oracle, PeopleSoft, J.D. Edwards, Microsoft, etc. to our banking systems. We build upon our experience to help clients reduce implementation efforts by integrating value-added services through our collaboration with key ERP, TMS providers and FinTech.

API: This enhancement provides opportunities to explore new ways to deliver our capabilities, services and information to clients on- demand.

Enjoy seamless communication and a more fluid end-user
experience as APIs accelerate the shift from batch to real-time processing. Additionally, APIs enable batch processing of payments across multiple banks and assist with information received to reconcile payments.

G. REFERENCES
Provide at least three (3) local governmental references that are of similar size (i.e. scope of service utilization) as the City. Please include the following information for each reference:
● Contact name and title
● Name and address of the government
● Phone number and email address
● Services provided
● Number of years as customer and services provided
J.P. Morgan is proud of the relationships we have with our clients. The clients listed below have agreed to speak with the City regarding our offerings, service and functionality. We have attempted to select clients that are similar in size and scope to the City, allowing you to accurately assess our compatibility with your organization.

An application programming interface (API) is a software intermediary. Using a restaurant as an example… You (system 1) have a food order (request) The waiter (API) takes your order to the kitchen (system 2) The waiter then delivers your food (response) back to you What is an API?

Exhibit C – Scope of Services | 170 |
City of Upland
Contact Name, Title Saleha Kazmi, Accounting Supervisor Address 460 N Euclid Ave, Upland, CA 91786
Phone (909) 931-4360 Email [email protected]
Length of time services provided 7 years
Services Services include but are not limited to: online banking services, core depository services, lockbox, branch and vault deposits, core disbursements, fraud protection services, and merchant processing

City of Pleasanton
Contact Name, Title Susan Hsieh, Director of Finance
Address 123 Main Street, Pleasanton, CA 94566
Phone (925) 931-5408 Email [email protected] Length of time services provided 10 years
Services Services include but are not limited to: online banking services, cash concentration, branch and vault deposits, wholesale & scannable lockboxes, remote deposit capture, ACH origination, full account reconciliation, and fraud protection services

City of Hayward
Contact Name, Title Mary Thomas, Assistant City Manager & Interim Director of Finance Address 777 B Street, Hayward, CA 94541
Phone (510) 583-4227 Email [email protected]
Length of time services provided 7 years
Services Services include but are not limited to: online banking services, cash concentration, liquidity sweeps, branch and vault deposits, image cash letter, ACH origination, full account reconciliation, fraud protection services, and merchant processing

Exhibit C – Scope of Services | 171 |
City of Ventura
Contact Name, Title Jennifer Rowe, Treasury Manager
Address 501 Poli St., Ventura, CA 93001
Phone (805) 654-7817 Email [email protected]
Length of time services provided 6 years
Services Services include but are not limited to: online banking services, core depository services, branch and vault services, liquidity management, core disbursements, and merchant processing

H. CONTRACT/REPORTS TO BE INCLUDED IN THE PROPOSAL

1. A sample of the proposed contract for your bank’s services and all other documents that will need to be signed/entered into related to the provision of the services requested in this RFP, including any documents referenced or incorporated into the contracts/agreements.

Please access the requested, applicable account opening documents and product service agreements through this link or by scanning the QR code with your mobile device.

Scan for sample account terms and service agreements.

Please keep in mind J.P. Morgan requires execution of all applicable account opening documents, as well as all relevant product and service agreements. Sample documents are provided in Appendix 14. These sample documents are provided for the City reference only to review as part of your evaluation of this proposal and these documents may be modified by us from time to time. As such, they are intended for your review only and are not meant to be marked up or redlined.
● Sample account opening documents
● Sample product and service terms and agreements
Exceptions noted for the core Treasury Services are not necessarily applicable for Commercial Card. The Commercial Card agreement takes precedence over the client’s terms.

Refer to Appendix 15 for our sample Commercial Card Agreement.

The sample documents cover the comprehensive set of products and services that may be offered to our Commercial Banking clients in general, and the standard package may include terms for products and services that are not within the scope of services currently proposed to the City. At the time of your

Exhibit C – Scope of Services | 172 |
implementation, and based on the specific services you elect to use, you will receive the applicable agreements to be executed from your implementation project manager.

Know your customer (KYC)
J.P. Morgan is required to know its customer and to adhere to policies and procedures intended to meet those regulatory requirements that apply to safety and soundness and to fight against the funding of terrorism, money laundering and sanction related activities including performing certain transaction screenings. This means J.P. Morgan will request information about the City and its management and those having authority to transact business with J.P. Morgan in order for J.P. Morgan to comply with its policies and procedures. This is an ongoing requirement and the provision of services pursuant to this proposal and any additional products or services that may be requested is subject to and conditioned upon the ongoing satisfaction of those policies and procedures and compliance by the City with applicable law with respect to the services provided and J.P. Morgan’s policies of which the City is informed.

2. Proposed custodial agreement for the collateral pledged to secure the City’s account under the Financial Institutions Reform, Recovery and Enforcement Act, (FIRREA) requirement.

The J.P. Morgan Board of Directors has passed a resolution which delegates authority from the Board to certain personnel to, among other things, enter into agreements with governmental entities to serve as a depository and to pledge collateral to secure that entities’ public funds deposits. This resolution can be delivered upon request.

3. A sample report or a website link of the monthly bank statement, credit card processing statement, standard on-line reports, real time query screens, and any other reports that we could expect to receive.

View account analysis statements starting on the sixth business day after the close of the billing period.

Account analysis statements are available online for up to 13 months.

View bank statements online within two business days after the statement cutoff date. Bank statements are available for 7 years.

Please refer to section 15. Statements and Documents, item b for a sample online bank statement.

Several master reports form the foundation of our online centralized reporting capability. Each format is customizable to create reports tailored to specific needs.

Exhibit C – Scope of Services | 173 |
J.P. Morgan Access reports
Balance and
Transactions
Report
 Includes top-line balance and transaction summaries, detail transaction records and time- specific data
 Available for current-day, prior-day and date-range periods  Choose from many layouts: account, summary and detail, summary only, detail only or location
 Includes check/deposit ticket images, transaction note entry, and Lockbox and deposit float reporting, and also sorting and drilldown capabilities to view additional transaction details  Customize the filters and view as a Location Report that captures deposit information from each of your locations
Checks Paid
Report
 Detailed view of check transactions that have cleared through J.P. Morgan accounts  Data is available for current-day, previous-day and date-range periods  Also includes sorting options and drilldown capabilities to view check and/or deposit ticket image and additional transaction details
Returns and
Exceptions Report
 Detailed view of return items, including check returns, Automated Clearing House (ACH) returns, ACH represented checks (RCK) and ACH notification of changes (NOC)  Run the report using the default date, account and transaction settings or customize it by choosing desired criteria and settings
 Includes sorting options and drilldown capabilities to view check return images Wire Detail Report  Detailed view of incoming and outgoing wire transactions by account or date for completed Fed, CHIP and book transfer activity
Payment Reports

 View and customize payment transaction data (Wire, Book, ACH, Account Transfer, and Wire FX)
 Report can include current, pending and completed transactions  Provides both summary and detail reporting of payments Template Reports  Display and customize information for various payment types  Template details and history
 Template creation method
 Template status
EDI Reports
(prior-day only)
 Provides detailed remittance and invoice information for electronic receivables or payments for a specific settlement date in Adobe PDF or ANSI X12 820

Please refer to Appendix 2 for sample J.P. Morgan Access reports.

4. Is your bank willing and able to develop customized reports? If so, please provide specific pricing information.

Yes. We provide customized reporting as stated below:

Exhibit C – Scope of Services | 174 |
J.P. Morgan Access
Our online portal offers the City a comprehensive list of predefined reports, as well as advanced filtering and criteria capabilities, and a powerful set of interactive features, allowing you to customize reports for different views or download them into different layouts to meet your varied reporting needs.

For example, for balance and transaction reporting, the City can customize reports online with the following selection options:
● Select balances by account or groups of accounts
● Access prior business day, current business day or as of business day financial data; or select a date range of up to two years
● Evaluate account averages for this month, the prior month and year-to-date ● View balances, credits and debits
● Select from a variety of industry standard formats: Excel, CSV, PDF, MT940, ISO camt.054 and BAI2
In addition, the City can enhance the presentation of your information using the following Interactive Reporting functionalities:
● Move, show or hide fields or columns within the report ● Sort on single or multiple columns
● Use our web search tool to filter data
● Use graphs or charts to quickly visualize trends
● See your report change dynamically as you perform customization of your report ● Save and re-use the report template, print or export the report with the customized settings To enhance productivity, reports can be scheduled to run automatically via our Automated Scheduler at recurring intervals, e.g., daily, weekly or monthly. Additionally, customized reports can be shared by the creator with other the City users.

Once the scheduled reports are available in your users’ Reports Inbox, the users can download these reports at any time even outside of regular business hours, provided that this is not within our electronic banking system’s regular maintenance hours.

PaymentNet
PaymentNet’s Reporting module allows users to customize the contents and layout of reports and manage the reports they have created.

The Reporting module allows program administrators to:

Exhibit C – Scope of Services | 175 |
● Define new reports from templates provided by J.P. Morgan, change the contents and layout of a report, and specify the output format (Excel, PDF or CSV) ● Customize reports by adding data elements from all reporting categories ● Include reference data fields for Receipt Imaging, if enabled ● Sort and group report data and include calculations for subtotals, grand totals, and counts ● Share customized reports with users across your organization based on their assigned roles, such as customizing and sharing a report only with cardholders ● Schedule reports to run on a regular basis or on behalf of other users ● Find reports using search capabilities and filter options on a redesigned Report List page ● Enable the Quick Run option to allow users to run any report from the Report List page with a single click
Although only program administrators can build new reports, all users can work with available reports using the Reporting module interface.

PaymentNet reporting also provides powerful keyword search and filter capabilities. Cardholders can create and personalize new versions of their reports, adding filters and sorting the data as needed, and then produce the report in the format of their choice. They can run reports on demand (using the Quick Run button, if enabled) or schedule reports to run on a specific date or a recurring schedule.

Please refer to the separate Cost Proposal.

I. LEGAL AND FIRM ISSUES
Please disclose and explain any significant negative events in the bank’s recent history, including criminal charges, civil litigation, or administrative actions involving allegations of securities or banking law violations by the bank or its employees during the past five years. Please comment on the resolution and/or status of the actions.

JPMorgan Chase & Co. and/or its subsidiaries (collectively, the “Firm") are defendants or putative defendants in numerous legal proceedings, including private civil litigations and regulatory/government investigations. The litigations range from individual actions involving a single plaintiff to class action lawsuits with potentially millions of class members. Investigations involve both formal and informal proceedings, by both governmental agencies and self-regulatory organizations. These legal proceedings are at varying stages of adjudication, arbitration or investigation, and involve each of the Firm's lines of business and geographies and a wide variety of claims (including common law tort and contract claims and statutory antitrust, securities and consumer protection claims), some of which present novel legal theories. Based on current knowledge, the Firm believes it has asserted meritorious defenses to the claims asserted against it in its currently outstanding legal proceedings, intends to defend itself vigorously in all such matters, and does not believe that any pending legal proceeding would have a material effect on the Firm's performance of the services contemplated by the Request for Proposal. For further discussion, please refer to JPMorgan Chase & Co.'s publicly-filed disclosures, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission (available at: https://jpmorganchaseco.gcs-web.com/ir/sec-other-filings/overview).

Exhibit C – Scope of Services | 176 |
J. PART II COST PROPOSAL
The Cost Proposal must list the name and complete address of the bidder in the upper, left- hand corner.

The Cost/Price format for the proposal must be as outlined in the Agreement for services, Exhibit “A.” Total cost must be clearly indicated at the end of the Cost Proposal and entered on the first page of the proposal.

Costs must be itemized per the agreement for services.

Charges for supplies, equipment, travel, and subcontractors will be paid at cost. It is expected that general, overhead, and administrative costs are included in the hourly rate for labor. Bids submitted will be held to the total cost given in the response quote. It will be assumed that all contingencies and/or anticipated escalations are included. No additional funds will be paid above and beyond the original quote given by the selected bidder.

Please refer to our separate document PART II – COST PROPOSAL.

Introduction (Section 1) | 177 |
Introduction (Section 1)
Contents to be determined by contractor.

Doing business with the City is an honor and a privilege.

You demand excellence and take the welfare of the people you serve seriously. We want to match those high standards and support your vision and mission. We can do this by offering innovative treasury services and solutions that fit the diverse needs of your constituents.

As you read the following pages, we want you to feel confident that we’ve done our due diligence. This response outlines our understanding of the needs and operational requirements of the City.

Our seamless, cohesive approach to treasury management offers you an efficient, cutting-edge way of managing receivables, payables, liquidity and credit. We’ve also put levers in place to help make sure there are minimal disruptions to your operations in case of an economic downturn.

Our team remains by your side through thick and thin. They will periodically reassess the plan we create together so we can always stay on target—doing our best to align our initiatives with your objectives.

Thank you for giving us this opportunity. It’s our pleasure getting to know you better through your RFP and preparing a response that best addresses your questions.

We’re nearby

Our nearest branch location is located at 459 S Atlantic Blvd, only 1 mile from the City Hall.

We’re a full-service provider, offering automation of your daily tasks

We are a full-service provider of innovative cash management, liquidity, merchant and commercial card services— specifically developed to meet the challenges treasury professionals face today.

Our top priority is helping our clients accomplish their goals of automation, standardization and straight-through processing.

We stay one step ahead when it comes to Government Banking

Our government-first focus means we’re dedicated to providing the industry with innovative financial solutions and personalized client service. Our first-hand knowledge and understanding of today’s challenges comes from having supported government agencies and authorities with critical activities ranging from planning and development to tax processing, utilities, finance, procurement, public safety and disaster relief. We remain responsive to change because of our:

Introduction (Section 1) | 178 |
● Expertise: We have institutional banking knowledge gained through our more than more than 2,100 public agency clients and our Government Council resource ● Technology: Our tech innovations are funded by a technology budget of $18 billion that includes investments in cybersecurity
● Service: Stay up to date through regular relationship reviews, training opportunities and discussions with your local team
● One relationship: Leverage us to provide a broad assortment of services that can help reduce costs, improve services and better manage risks
● Onboarding: Your experienced onboarding specialist will facilitate your transition and implementation of services and provide you with insights and project visibility Our Government Council benefits you
Each year, our Government Council hosts client webinars, provides articles on topics of interest, such as shared services and mobile payments, and participates in government conferences. Learn from your peers and government sector experts about best practices and innovative solutions.

Our Government Industry Council consists of senior bank management, relationship managers, and industry and product experts who collaborate to help our products remain aligned with our clients’ financial, operational and regulatory requirements. You maintain a voice in the Government Council. Your relationship team communicates feedback to the Council to provide recommendations for improvements to our products and services.

Have confidence that you’re working with an experienced relationship team

Our Government Banking team is a specialized group of relationship managers dedicated to delivering solutions to state and local governments. We know the government sector intimately through our experience serving more than 2,100 government clients.

You will be supported by Sydney Aylward, James Calucin, Analicet Burciaga and Bri Morales who have a combined 45 years of experience.

They are here for you to handle any emergency needs that arise.

You have access to a strong and stable financial institution

Our financial stability is demonstrated by statistics (as of June 30, 2025):
● $797.2 billion in market capitalization
● $2.6 trillion in deposits
● $1.41 trillion in loans
● $357 billion total stockholder equity

Introduction (Section 1) | 179 |
We also have Tier 1 capital Ratio and Total Capital Ratios of 16.1% and 17.8%, respectively; the ratios presented are calculated under the Basel III Fully Phased-In Approach.

As of June 30, 2025, and December 31, 2024, JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A. were well-capitalized and met all capital requirements to which each was subject.

We help protect you against loss

Our online platforms have multiple security features in place.

We have several fraud solutions we are recommending for your accounts.

Our Commercial Card program also has 24/7/365 fraud screening and a liability waiver.

Please refer to our firmwide Cybersecurity and Technology Controls Overview in Appendix 11 for more information.

We make the onboarding process easy

We deliver tailored solutions that meet your needs and provide a dedicated resource to fully support your onboarding journey. We will:
● Develop a tailored implementation plan that fits the needs of your organization ● Work with you to understand each operating environment ● Collaborate with leadership to deploy a cohesive strategy ● Enhance your experience by acting on your feedback and making continuous improvement

We’re invested in your success

Our mission is to support people, strengthen communities and advance local economies. We’re deeply dedicated to local growth and transformation while maintaining the richness and culture that’s so important to you.

Introduction (Section 1) | 180 |
Building stronger communities together
Our mission: Make a lasting difference
JPMorganChase Commercial Banking provides capital,
expertise and financial solutions to spur business growth and help make communities stronger. Because we know
your success is your community’s success too.

We focus on these areas to help power economic growth:
● Affordable housing
● Community Development
● Diverse and underserved businesses
● Government
● Green Economy
● Healthcare
● Higher education
● Minority Depository Institutions (MDIs)
● Midsize companies
● Nonprofits
Here’s how we’re making a difference in your
community
We invest in the economy: We provide capital to businesses, governments and nonprofit organizations in local markets. This is how we show our support:
● Chase provided a $10.4 million loan for 3rd & Dangler apartments in LA, featuring 78 units, 77 for low- income, 39 for the formerly homeless. NCRC leads the project, with support from Hope through Housing Foundation.
● Chase provided a $4 million tax-exempt loan to refinance Tyler Valley Metro Apartments in El Monte, CA, which offers 52 units for low-income families. The site includes an after-school program by the Cesar Chavez Foundation.
● Chase provided a $29 million loan for Jordan Downs Phase S2 in LA, building 81 units for low-income households, including ADA-accessible units. 80 units receive rent subsidies through RAD and Section 8 vouchers.

Introduction (Section 1) | 181 |
● Chase provided a $1.7 million loan for West LA, converting an office into 49 PSH units for Veterans. 48 units are income-restricted and subsidized by VA vouchers. Century Affordable Development, Inc. leads, with supportive services by Century Oasis.

For 2019 to 2025 we:

Raised
$14.1 million
for local govts and nonprofits

Purchased
$1.3 billion
in goods and services

Contributed
$14.1 million
In Community
Development Support

Contributed
$64.2 million
to nonprofits

We invest in community: The strongest, most resilient communities are those with thriving educational systems, resources for people and businesses, and investments in infrastructure. ● Chase provided a $1.7 million loan for West LA, converting an office into 49 PSH units for Veterans. 48 units are income-restricted and subsidized by VA vouchers. Century Affordable Development, Inc. leads, with supportive services by Century Oasis.
● Chase invested $3.69 million in New Market Tax Credits for a $12 million project to build a 9,000 SF facility and upgrades for Citizens of the World Charter Schools in LA, boosting enrollment to 650 students. ● Chase invested $4.87 million in a $32 million project with the Entertainment Community Fund in LA, aiding building construction and rehab to support the creative economy, benefiting 5,500 people.

Our contribution to the Los
Angeles area
265
branches
1,100
ATMs

We invest in people: We’re supporting your residents in meaningful and sustainable ways. We’re creating opportunities for artists to beautify neighborhoods, for technologists to conduct research and development or for veterans to start businesses. We look forward to continuing to support the people of the City:
● Chase extended a $3.2 million loan for a 51-unit low-income senior housing project in LA, including services for formerly homeless seniors. Managed by Weingart Center, it offers comprehensive support and VASH services.
● Chase extended a $33.3 million loan for San Julian Apartments in LA, a 94-unit supportive housing project by Mercy Housing, with 93 units at 30% AMI under a 20-year HAP contract. ● Chase lent $15.3 million to Panorama City 684, LP for affordable senior housing in CA, alongside a $45 million tax-exempt loan. The project includes 239 units, with income restrictions and support services from RCC and partners.

We invest in technology: Our 2025 technology spend budget is $18 billion. This major commitment is your assurance that we are prepared and able to meet your needs and requirements during these turbulent economic conditions.

Introduction (Section 1) | 182 |
Why J.P. Morgan
We understand you’re making a big decision whether to change banks or maintain status quo. We ask you to consider the following as you review our response:
● The people and the experience: Implementation and service should be nothing short of outstanding. The bank you choose should exceed your expectations in planning, operational accuracy, troubleshooting, communication, sense of urgency, care and kindness.
● Thought leadership: The bank you select should employ the very best people in the industry who have the experience and expertise to apply best practices on a regular basis and keep you abreast of emerging technology and trends.
● New and different technology: You’re choosing a bank for its people and what the future holds. You enter a long-term strategic relationship and invest in that bank’s technology of the future. It’s important to understand your provider’s budget and roadmap. You should feel confident it has the resources and vision to stay ahead of rapidly changing technologies.
● Understanding of culture and vision: You deserve a highly experienced team of treasury experts that understands your needs, culture and vision for the future and the goals of each of your departments—both individually and as a whole.

We understand you’re working to achieve efficiency and create a bright future. We know it’s all in the details. By selecting us as your primary provider, you’re choosing a proven and dependable institution focused on aligning your objectives with solutions to exceed your goals.

In conclusion
We welcome the opportunity to discuss our recommendations, introduce our broader team and demonstrate our systems as we collaborate closely with you throughout this effort.

With more than 200 years of experience in the government sector and more than 2,100 government clients, we’re prepared to support you at any juncture—enhancing risk mitigation, boosting efficiencies and improving constituent service.

We have the experience, the solutions and the people to effectively support your goals. We’re honored you have given us this opportunity and look forward to hearing your decision.

The integrity and quality you expect.

A proven commitment to exceptional service makes certain that what matters to you, matters to us.

Our commitment
Our government expertise is one of the many reasons clients choose J.P. Morgan Commercial Banking. We provide quality service, make it easy to do business with us and build long-lasting relationships based on client satisfaction.

Introduction (Section 1) | 183 |

Project Analysis (Section 2) | 184 |
Project Analysis (Section 2)
Provide an explanation and interpretation of the challenges identified in this RFP.

We’ve read your RFP and understand that you are looking to create efficiencies, make improvements where possible and take advantage of new, applicable technologies. To that end, J.P. Morgan is dedicated to providing a tailored offering which includes a business process review. This approach allows us to identify opportunities for improvement and for deploying innovative solutions and technologies.

We know account consolidation is important to the City, and as part of a business process review we will make suggestions to optimize your account structure. We will work with you to meet established priorities and incorporate industry best practices.

Objective, Scope, Nature of Proposed Program (Section 3) | 185 | Objective, Scope, Nature of Proposed
Program (Section 3)
Describe the overall approach to the challenges, including the objective and scope of work to be performed by the contractor.

We focus on delivering an outstanding service experience. This is evident in the investment we make in our people, and the significant improvements we make in our infrastructure and technology. We believe the greatest value we can bring to you is understanding your business and organization, being prompt and proactive in our communication and providing the service that that makes life easier for you.

Being one of the world’s largest and most trusted full-service providers, we stand ready to help the City optimize efficiency, resolve cash flow challenges and streamline processes of your critical treasury management functions.

Adding value with our treasury services solutions

Figure 40

Benefit from on-site meetings/account reviews as we build a strong relationship Upon completing contracts and reviewing your business processes, we meet on site with the City as frequently as necessary to develop a detailed statement of work and client onboarding plan. Once that is in place, we hold weekly meetings, some by phone or telepresence, others in person. Including all relevant stakeholders helps make sure our efforts result in successful transition.

Once your new services begin, we commit to meeting with you quarterly or more frequently as needed so that both the City and J.P. Morgan are consistently aligned in our focus. Depending upon the agenda, we bring the appropriate key representatives from our product, operations, technology and client service teams to cover specific topics.

Objective, Scope, Nature of Proposed Program (Section 3) | 186 | We look forward to discussing these typical agenda items with you  Innovative solutions
 Goals and objectives for the next year and over the lifetime of the contract  Special projects the City may be embarking upon
 Best practice recommendations
 Considering and implementing new products
 Review of industry trends (e.g., risk mitigation, data security and fraud management, etc.)

Scope of services to be provided

Accounts and liquidity

● Consolidated account structure: We can help you consolidate your accounts as requested. These accounts will all be in a single account analysis group, allowing you to view all billing information on one consolidated statement.
● Hybrid DDA: In the current rate environment, the City can benefit from our Hybrid demand deposit account (Hybrid DDA) for excess cash balances, earning interest without managing alternative investments and enjoying a simplified, low-maintenance account. The Hybrid DDA offers full liquidity with unrestricted withdrawals, automatic earnings credit for operational efficiency, and the ability to reduce overall cash outlays for operating expenses, optimizing operating value. ● Overnight investment: We offer a variety of deposit and investment alternatives for your operating and reserve balances including:
 Commercial Checking with Interest
 Hybrid DDA
 Money Market Deposit Account (MMDA)
 Certificates of deposit (CD)
 Liquidity Management Account (LMA)
 Client Directed investment into Money Market Funds (sweep functionality offered)  End of Day (Roundtrip) Investment Sweeps
 Intraday Investment Sweeps

Objective, Scope, Nature of Proposed Program (Section 3) | 187 |

Online banking and reporting

● J.P. Morgan Access®: Our online portal, J.P. Morgan Access, represents a simple, intuitive and multi- functional channel that provides rich information and transaction capabilities with a single sign-on to product applications across the Treasury Services product line. The City’s authorized users can use our online portal for balance reporting, initiation of ACH debits and credits, wire transfer initiation, interbank account transfers and placement of stop payments on checks. You can also access reports, statements and view paid check and deposit ticket details and images in seconds. ● PaymentNet: Our proprietary PaymentNet system provides the tools and information for the City to effectively manage your commercial card program activity.

Receivables

● Deposit services: We offer flexible depository services to meet the City’s check and cash deposit needs.

Use our cash vault services for deposits if your average deposits exceed Chase branch thresholds. ● Remote Deposit Capture: Provides you desktop scanning capabilities including the ability to capture checks and full-page documents and deposit directly to your bank account ● Returned item processing: You provide us specific instructions for your return item handling that are maintained within a comprehensive database at the bank. ● Collateralization of deposits: The bank will collateralize all end-of-day ledger balances in the name of the City, above balances insured by the FDIC, at 110%, pursuant to California Government Code section 53652(a).
● Lockbox: J.P. Morgan Wholesale Lockbox, a solution powered by Receivables Online, allows you to direct payments to one of our local processing centers where payments are automatically collected, processed and deposited into your J.P. Morgan bank accounts.

Payables

● Positive pay: The ability to quickly and accurately make positive pay exception decisions online helps minimize your exposure to check fraud
● Reconciliation services: We offer both full and partial reconciliation services. Account reconciliation program (ARP) services are optional and are designed to enhance reconciliation efficiencies. ● Stop payments: Stop payments can be easily placed through our online portal, J.P. Morgan Access. ● ACH processing: We offer both online and direct send transmission to initiate ACH transactions.

Objective, Scope, Nature of Proposed Program (Section 3) | 188 | ● Wires: We offer both online and direct send transmission to initiate wire transactions. ● Procurement Card: We offer our One Card program which combines procurement card and travel card programs to earn more rebate.
● Virtual Card: Leverage an electronic, credit card-based payment method that helps more efficiently manage your payment processes, reduce costs and transform traditional areas of expense into potential revenue generators.

General banking services

● Coin/currency ordering: Request change orders as needed, establish a standing vault order or use a combination of orders. Place coin and currency orders via telephone using an interactive voice response (IVR) or through our Web Currency Services ordering platform. ● J.P. Morgan File Transmission: Establish a secure connection between your Enterprise Resource Planning (ERP) System and J.P. Morgan to initiate transactions and receive reporting.

Fraud prevention & security

● Account Validation Service: Our industry-leading Account Validation Service (AVS) allows you to originate payments with confidence, combatting fraudsters and reducing threats. ● Entity Validation Service: J.P. Morgan Entity Validation Services (EVS) delivers a convenient and secure method to help verify individual identity or business entity information in connection with your payments initiated through J.P. Morgan to help prevent fraud and manage risk. ● ACH Transaction Review with Positive Pay and next day review: ACH Transaction Blocking with ACH Positive Pay allows entitled users to review ACH debit and credit blocked transactions, allowed transactions or all transactions prior to posting the item to the DDA account as flagged during the account setup.

Conclusion
Our solutions will help the City create efficiencies and meet the objectives laid out in your RFP. Our dedication to excellence and security provides your staff with peace of mind and the confidence to manage your daily tasks with ease.

Work Program (Section 4) | 189 |
Work Program (Section 4)
Describe the work or tasks to be performed.

Our implementation approach helps make the transition smooth and efficient. While we have prepared a detailed implementation schedule, available in Section 8, actual timelines and resources are outlined once the scope of work has been completed and approved. Your assigned onboarding specialist, Annette Ramirez, has prepared a draft project plan that is specific to each service outlined in our response. The plan also identifies responsibility for each step of the implementation process. We will work with you to validate your requested solutions, establish timelines for implementation and coordinate with the necessary teams across the City.

Your onboarding specialist follows a structured project framework to execute the setup of products and services that have five key phases:

J.P. Morgan’s Proven Implementation Approach

Figure 41

Methodology (Section 5) | 190 |
Methodology (Section 5)
Describe the methodology and techniques to be employed.

When you begin your relationship with us, we apply our proven implementation approach to implement your new banking services in a structured and efficient manner, with minimal disruption to the City.

Our approach to provide smooth onboarding of new services Your dedicated onboarding specialist remains your
single point of contact throughout implementation:
● Understands your business objectives and
builds a detailed project plan to meet your
goals.
● Coordinates with your team and all
stakeholders at the bank to provide timely
delivery and an excellent experience.
● Provides end-to-end ownership of the
process, keeping you fully informed
throughout with regular progress meetings and updates.

Proven project management approach to deliver for your business

Figure 42

Our survey tells us Nearly 90% of our Commercial Banking clients surveyed rated their overall experience post implementation as very good to exceptional* We strive to improve your implementation experience by obtaining and addressing your feedback * 2023 post-implementation survey

Methodology (Section 5) | 191 |
We view the implementation process as a pivotal phase in our relationship and an opportunity to demonstrate the value of our expertise and consultative capabilities.

Our people dedicated to your success
Your dedicated onboarding specialist earns your trust as an extension of your team. Your specialist delivers expertise in project management and provides deep industry knowledge and experience.

Our technical specialists work with you to develop a
comprehensive implementation plan based on your objectives and processing systems. They provide expertise on our market- leading capabilities that simplify complex onboardings. They use proven and structured methodology to make certain highly successful outcomes that are delivered on-time.

Implementing big ideas and day-to-day improvements
Our transformation of onboarding includes advancing client onboarding technology, tools and processes. Enjoy the benefits as you:
● Execute documents anytime, anywhere using e-Signature capabilities (as permissible by local law)
● Experience a streamlined know your customer (KYC)
process that reduces information required and automates data capture through technology
● Benefit from ongoing investment in solutions to streamline the end-to-end client onboarding process
● Reduce development effort and implementation time with our proprietary ERP plug-ins and adapters
● Embed banking services in your products and processes with comprehensive API capabilities ● Our APIs provide a new digital connectivity channel to better deliver our products and services to achieve your business objectives
Onboarding—How it works
We follow an established project flow and framework when executing the setup of products and services. Please refer to Section 8 for a sample implementation schedule.

We confirm terms of the proposed process with you. Upon accepting the proposed process:
● Your Sales team shares the terms of the proposed process with our Implementation team.

Our people
866+ Onboarding team members 8 years’ industry experience (average) 87,521 onboardings completed in 2023 Our commitment to continual improvement Investing in development of our professional project managers Driving operational excellence by empowering our people to improve everyday processes Actively seeking client feedback through surveys and follow-up calls Leveraging real-time data to efficiently manage resources

Methodology (Section 5) | 192 |
● Your Sales and Implementation teams discuss the proposed process, exceptions, your goals and special conditions.
● Your Implementation team schedules a kickoff call, reviews the project plan, identifies needed documentation and establishes a meeting schedule.
● You return the required core DDA documents and product-specific documents to Implementation. ● Our Implementation team works to complete your request and verifies our systems reflect your correct information.
● Your client service associate (CSA), Analicet Burciaga, is notified of product setup completions. ● Training requirements are coordinated and scheduled with your designated contact(s). ● Training, including product manuals and sample completed order forms, is provided to you. ● Your account is monitored for a period of time (to be determined) to verify proper setup, availability, exceptions, etc.
● Your onboarding specialist confirms with you that products are working properly and sets up a meeting to review your first analysis statement.
● Your account is officially transitioned to your designated CSA for ongoing servicing.

Project Management (Section 6) | 193 |
Project Management (Section 6)
Describe the proposed management structure, organization of contracting group, and facilities available.

The City will have an assigned relationship team. Please see the below proposed management structure.

Organizational chart

Figure 43

Both JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A., are managed on a line of business basis. The business segments presented in the following figure reflect the current organization of the firm. There are three major business segments: Asset & Wealth Management, Commercial & Investment Bank and Consumer & Community Banking. The segments are based upon the products and services provided or the type of customer served.

Project Management (Section 6) | 194 |
JPMorgan Chase & Co. Lines of Business

Figure 44

The services needed to meet your requirements are provided by the Commercial Banking Government Banking team.

Commercial and Investment Bank
Commercial Banking delivers extensive industry knowledge, local expertise and dedicated service to U.S. and U.S. multinational clients. Working with our other lines of business, Commercial Banking provides comprehensive financial solutions, including lending, treasury services, investment banking and asset management products.

The Commercial Banking Treasury Services Sales team delivers cash management capabilities that help clients manage payments and receipts, as well as invest and manage funds.

Our Treasury Services business is one of the world’s largest providers of cash management, trade, liquidity and escrow services. We help resolve the cash flow and efficiency challenges facing treasury professionals.

Government Banking
Within Commercial Banking, the public sector is a key industry segment in which J.P. Morgan continues to invest.

Our Government Specialized Industry segment provides financial solutions to more than 2,100 clients at the state and local government levels.

Project Management (Section 6) | 195 |
Primary location
You have an experienced and reliable government relationship team located in Southern California. The team will be responsible for responding to your inquiries and requests for services, while attending to daily activities regarding your financial matters and accounts. This team is made up of professionals that provide answers by taking time to understand your business, listening carefully and proactively providing ideas.

Branch
For your convenience, our closest Monterey Park branch is located at 459 S Atlantic Blvd, Monterey Park, CA 91754, less than 1 mile from your City Hall location.

Assigned Personnel (Section 7) | 196 |
Assigned Personnel (Section 7)
Identify the principals having primary responsibility for implementing the proposal. Discuss their professional and academic backgrounds. Provide a summary of similar work they have previously performed. List the amount of time, on a continuous basis, that each principal will spend on this project.

Describe the responsibilities and capacity of the technical personnel involved. Substitution of project manager and/or lead personnel will not be permitted without prior written approval of the City.

Your dedicated onboarding specialist, Annette Ramirez, will act as the primary point of contact between all levels of the City (e.g., management, users, technical staff and external partners) and J.P. Morgan staff throughout your implementation and will help facilitate the transition to your day-to-day service contract once onboarding is complete. A brief bio detailing Annette’s experience and responsibilities is included below and a detailed sample implementation schedule prepared for the City is included in Section 8.

Assigned Personnel (Section 7) | 197 |
Biography
Annette Ramirez

Role Onboarding Specialist
Address 10 S Dearborn St, Floor 34
Chicago, IL 60603
Phone (312) 732-5449
Email [email protected]
Responsibilities
Annette will be responsible for the Council’s Treasury Services product and services onboarding.

She will:
 Implement products and services to meet your objectives  Manage the installation of comprehensive and complex cash management solutions  Provide the Council with onboarding support and serve as the point of contact for questions and issues  Coordinate service delivery to occur within specified timeframes so that your onboarding is a positive experience Biography
Annette Ramirez joined J.P. Morgan in November 2021 with over 6 years of experience in commercial and retail banking. Previous roles included Treasury Implementation Advisor at Bank of America and Branch Supervisor at TCF Bank. As an Onboarding Specialist, Annette will be the main point of contact throughout the life of the project, coordinating with the internal J.P. Morgan partners and client team to help ensure make sure all onboarding milestones are met to the satisfaction of the client.

Responsibilities
Your onboarding specialist is responsible for:
● Forwarding your new account and product documentation, file specifications, start-up packet(s) and procedure manuals
● Contacting your designated representative(s) to complete all required documentation and determine specific product instructions
● Reviewing and completing product questionnaires with you, as appropriate ● Opening required accounts
● Ordering depository supplies
● Coordinating with our operations group to make sure products are set up to your specifications

Assigned Personnel (Section 7) | 198 |
● Coordinating file and transmission testing with the technical implementation specialist for both teams that includes:
 Transmission options review and setup
 File testing
 File security
 Providing test outcomes (or results) and reports to you  Examining all reports and elements of file testing and processing  Updating all parties on progress
● Confirming delivery of personal identification numbers (PINS) and instruction guides ● Providing required training or other assistance, as needed ● Monitoring initial depository activity and confirming depository products are working as expected ● Organizing a post-implementation meeting to review your account analysis statement ● Coordinating the hand-off to your designated CSA, Analicet Burciaga, for ongoing servicing.

Capacity
An onboarding specialist may be supporting other client requests concurrently; however, there is not a specific number. The available capacity of our Implementation team is dependent upon the complexity of the client requests. We will give your implementation the necessary commitment of resources to proceed at a comfortable pace.

Change in personnel
While we do not anticipate a change in the City’s assigned personnel at J.P. Morgan, we will notify the City promptly if such a change were to occur and seek express permission from the City for required changes in personnel. If a change occurs, we will make it a high priority to help smooth the transition and schedule introductions to the City’s team.

Schedule (Section 8) | 199 |
Schedule (Section 8)
List the proposed schedule of activities including labor hours.

Please see the below table for our proposed schedule.

Task Name Resource Names Duration Start Finish
City of Monterey Park 196 days Mon 11/3/25 Mon 8/3/26
Initiation 3 days Mon 11/3/25 Wed 11/5/25
Review initial project scope J.P. Morgan 1 day Mon 11/3/25 Mon 11/3/25 Schedule Kick-off Call J.P. Morgan 2 days Tue 11/4/25 Wed 11/5/25 Planning 1 day Thu 11/6/25 Thu 11/6/25
Conduct Project Kick-off Call 1 day Thu 11/6/25 Thu 11/6/25 Define and confirm project scope J.P. Morgan, City 1 day Thu 11/6/25 Thu 11/6/25 Review and confirm project timeline J.P. Morgan, City 1 day Thu 11/6/25 Thu 11/6/25 Review KYC requirements J.P. Morgan, City 1 day Thu 11/6/25 Thu 11/6/25 Review documentation requirements J.P. Morgan, City 1 day Thu 11/6/25 Thu 11/6/25 Execution 184 days Mon 11/3/25 Thu 7/16/26
Account Opening 14 days Fri 11/7/25 Wed
11/26/25
US Account Opening 14 days Fri 11/7/25 Wed
11/26/25
Product & Service Setup 184 days Mon 11/3/25 Thu 7/16/26 J.P. Morgan Access - New Profile Setup
(Account Transfer, ACH, Reporting, Wires,
Statements)
21 days Wed
11/26/25
Thu
12/25/25
Create new Access profile and add core products
(Account Transfer, ACH, Reporting, Wires, Statements) J.P. Morgan 10 days Wed 11/26/25
Wed
12/10/25
Order Hard tokens for Security Administrators (if
applicable) J.P. Morgan 2 days Wed
12/10/25 Fri 12/12/25
Security Administrators Log onto J.P. Morgan
Access
City Security
Administrators 2 days Fri 12/12/25 Tue
12/16/25
Entitle Access users J.P. Morgan, City
Security Administrators 3 days Mon
12/22/25
Thu
12/25/25

Schedule (Section 8) | 200 |
J.P. Morgan Access - Account Validation
Service (AVS) 20 days Wed
11/26/25
Wed
12/24/25
J.P. Morgan Access Checks 106 days Fri 11/7/25 Fri 4/3/26 ACH Debit Blocking- Full Debit Block 1 day Wed
11/26/25
Thu
11/27/25
ACH Origination - Direct Send 107 days Wed
11/26/25 Fri 4/24/26
Cash Vault Services 6 days Wed
11/26/25 Thu 12/4/25
Host-to-Host Direct Transmission (Reporting) 95 days Wed 11/26/25 Wed 4/8/26
Lockbox 184 days Mon 11/3/25 Thu 7/16/26
Wholesale Lockbox Setup with Receivables
Online 7 days Wed
12/10/25 Fri 12/19/25
Reserve lockbox location and number J.P. Morgan 1 day Wed 12/10/25
Thu
12/11/25
Open lockbox J.P. Morgan 5 days Thu
12/11/25
Thu
12/18/25
Create new Receivables Online portal J.P. Morgan 5 days Thu 12/11/25
Thu
12/18/25
Complete user and entitlement setup for
Receivables Edge
City Security
Administrators 1 day Thu
12/18/25 Fri 12/19/25
Consolidated Receivables 5 days Thu
12/18/25
Thu
12/25/25
Establish Consolidated Receivables J.P. Morgan 5 days Thu 12/18/25
Thu
12/25/25
Scannable Lockbox 106 days Mon 11/3/25 Mon 3/30/26
Engage technical resources for technical setup
and testing
J.P. Morgan, City
Primary Contact 2 days Thu
12/11/25
Mon
12/15/25
Coupon Approval 51 days Mon 11/3/25 Mon 1/12/26
Provide J.P. Morgan scannable coupon
specification J.P. Morgan 1 day Mon 11/3/25 Mon 11/3/25 Provide PDF Sample Coupons City Print Vendor, City
Primary Contact 10 days Tue 11/4/25 Mon
11/17/25
Review PDF Sample Coupons J.P. Morgan 2 days Mon
12/15/25
Wed
12/17/25
Submit sample coupon for testing City Print Vendor, City Primary Contact 1 day Wed
12/17/25
Thu
12/18/25

Schedule (Section 8) | 201 |
Complete coupon readability testing J.P. Morgan 5 days Thu 12/18/25
Thu
12/25/25
Additional coupon readability testing (if
applicable)
City Print Vendor, City
Primary Contact 5 days Thu
12/25/25 Thu 1/1/26
Change of Address Testing (if applicable) J.P. Morgan 7 days Thu 1/1/26 Mon 1/12/26 Review & Approve Requirements Document J.P. Morgan 30 days Mon 12/15/25 Mon 1/26/26
File Formal Approval 30 days Mon
12/15/25 Mon 1/26/26
Create File Format J.P. Morgan 25 days Mon
12/15/25 Mon 1/19/26
Provide approval City Primary Contact,
City Technical Contact 5 days Mon 1/19/26 Mon 1/26/26
Setup Scannable lockbox - Standard J.P. Morgan 20 days Mon 1/26/26 Mon 2/23/26 Setup Scannable lockbox - Custom Coding
(additional timeframe if applicable) J.P. Morgan 25 days Mon 2/23/26 Mon 3/30/26 Remote Deposit Capture (RDC) 36 days Mon 11/3/25 Mon
12/22/25
Provide Scanner Comparison Guide J.P. Morgan 1 day Mon 11/3/25 Mon 11/3/25 Order scanner from vendor City Primary Contact 1 day Tue 11/4/25 Tue 11/4/25 Reserve RDC number J.P. Morgan 2 days Wed
11/26/25 Fri 11/28/25
Add RDC to account(s)/profile J.P. Morgan 5 days Wed
12/10/25
Wed
12/17/25
Complete scanner & software Installation City Technical Contact 3 days Wed 12/17/25
Mon
12/22/25
Wholesale Transmission Setup 103 days Mon 2/23/26 Thu 7/16/26 Engage technical resources for technical setup
and testing
J.P. Morgan, City
Primary Contact 2 days Mon 2/23/26 Wed 2/25/26
Review and approve requirements document City Primary Contact, City Technical Contact 5 days Wed 2/25/26 Wed 3/4/26
Review and approve file format City Primary Contact,
City Technical Contact 3 days Wed 2/25/26 Mon 3/2/26
Provide sample test documents City Primary Contact 5 days Wed 2/25/26 Wed 3/4/26 Obtain Approvals (if needed) 5 days Wed 3/4/26 Wed 3/11/26 Obtain non-standard approvals J.P. Morgan 5 days Wed 3/4/26 Wed 3/11/26

Schedule (Section 8) | 202 |
Obtain approval for custom coding
J.P. Morgan, City
Technical Contact, City
Primary Contact
5 days Wed 3/4/26 Wed 3/11/26
Submit programming request J.P. Morgan 3 days Wed 3/11/26 Mon 3/16/26 Transmission Development - Standard J.P. Morgan 20 days Mon 3/16/26 Mon 4/13/26 Transmission Development - Custom Coding
(additional timeframe if applicable) J.P. Morgan 25 days Mon 4/13/26 Mon 5/18/26 Cycle 1 Testing 10 days Mon 5/18/26 Mon 6/1/26
Create & provide test file #1 J.P. Morgan 5 days Mon 5/18/26 Mon 5/25/26 Test File and Provide Feedback City Primary Contact,
City Technical Contact 5 days Mon 5/25/26 Mon 6/1/26
Cycle 2 Testing (If needed) 10 days Mon 6/1/26 Mon 6/15/26 Create & provide test file #2 J.P. Morgan 5 days Mon 6/1/26 Mon 6/8/26 Test File and Provide Feedback City Primary Contact,
City Technical Contact 5 days Mon 6/8/26 Mon 6/15/26
Cycle 3 Testing (If needed) 10 days Mon 6/15/26 Mon 6/29/26 Create & provide test file #3 J.P. Morgan 5 days Mon 6/15/26 Mon 6/22/26 Test File and Provide Feedback City Primary Contact,
City Technical Contact 5 days Mon 6/22/26 Mon 6/29/26
Sign-off on File Testing
J.P. Morgan, City
Technical Contact, City
Primary Contact
1 day Mon 6/29/26 Tue 6/30/26
Move to production J.P. Morgan 10 days Tue 6/30/26 Tue 7/14/26 Transmit First Production Lockbox File J.P. Morgan 1 day Tue 7/14/26 Wed 7/15/26 Confirm Receipt of Production Lockbox File City Technical Contact 1 day Wed 7/15/26 Thu 7/16/26 Connectivity 22 days Wed 2/25/26 Fri 3/27/26
GTI 22 days Wed 2/25/26 Fri 3/27/26
Training 14 days Wed
12/10/25
Tue
12/30/25
Security Administrator 4 days Tue
12/16/25
Mon
12/22/25
Product Specific 14 days Wed
12/10/25
Tue
12/30/25

Schedule (Section 8) | 203 |
Closure 12 days Thu 7/16/26 Mon 8/3/26
Monitor Services During Production Verification
Period J.P. Morgan 10 days Thu 7/16/26 Thu 7/30/26
Transition to Service/ Production Handover J.P. Morgan 1 day Thu 7/30/26 Fri 7/31/26 Complete Project J.P. Morgan 1 day Fri 7/31/26 Mon 8/3/26

Program Monitoring (Section 9) | 204 |
Program Monitoring (Section 9)
Describe the quality control procedures to be utilized during the project to ensure conformance with the scope of work.

To confirm conformance with the scope of work throughout the project, we employ a comprehensive set of quality control procedures. An active Microsoft Project Plan is maintained and frequently updated to reflect the project scope, timelines and progress—with all updates and meeting minutes/status reports shared and documented for transparency and auditability. Weekly client meetings are held to review project status, key deliverables, milestones and any emerging issues—with detailed agendas and minutes documented and shared.

Implementation requests are regularly validated to make certain that all required project plans and status updates are attached within specified timeframes, confirming ongoing alignment with the defined scope. Supporting documents such as solutions outlines, onboarding checklists and confirmation templates are used to standardize and verify that all scope requirements are addressed. At project closure, a final review and client satisfaction call are conducted to confirm completion of all scope items before transitioning to client service. Throughout the project, any questions or changes related to procedures are managed through established support channels and documented change request processes, further reinforcing quality and scope adherence.

Step Purpose Frequency/timing
Project plan updates Track progress, confirm scope alignment Throughout project life cycle Meeting minutes/status updates Document decisions, changes and progress After each meeting/update Weekly client meetings Review status, deliverables and issues Weekly Use of templates/checklists Standardize scope confirmation As needed Final review and handover Confirm all scope items are complete Project closure Issue resolution Address scope-related questions/changes As needed

City Resources (Section 10) | 205 |
City Resources (Section 10)
Describe the City services and staff resources needed to supplement contractor activities to achieve identified objective(s).

The City should provide a primary point of contact for the implementation team to work with as well as any necessary technical contacts, if required. Authorized signers should be available at the start of the project to sign documents and identify and approve security administrators.

Treasury services implementation
The table below provides the resources required and the average implementation time for setup of the requested treasury services. Time is measured from receipt of completed documentation.

Implementation time averages, resources and critical success factors Service
Expected lead
time (1) Resources Critical factors
Account opening
(2)
2 days  Bank onboarding
specialist
 City cash manager
 Confirm setup requirements
 Receipt of signed documentation
 Due to the U.S. PATRIOT Act and “Customer
Identification Program” regulations, we must
receive all required documentation, properly
and fully completed, before we open an
account
 Information pursuant to the BSA that requires
us to collect and validate the personal
identification information of beneficial owners
and at least one controller
Depository
services
4-10 days  Bank onboarding
specialist
 City cash manager
 Deposit tickets
 Endorsement stamps
 Tamper-resistant plastic depository bags
 Deposit ticket MICR specification sheets are
available electronically; your onboarding
specialist will provide these upon request
 ACH Debit
Block
 Check returns
 End-of-day
sweep
 SOFTI

1-5 days  Bank onboarding
specialist
 City cash manager
 Confirm setup requirements
 Receipt of signed documentation

City Resources (Section 10) | 206 |
Implementation time averages, resources and critical success factors Service
Expected lead
time (1) Resources Critical factors
J.P. Morgan
Access
2-4 weeks  Bank onboarding
specialist
 Bank training team
 City security
administrators
 City end users
 City IT
 City’s banks
 Confirm setup requirements
 Receipt of Security Administration
Designation Form
 Security administrator and end-user ID
activation
 User and entitlement setup
 Security administrator and product training
 Create ACH/wire files and test upload
process, if applicable
 Non-banks begin reporting
Cash vault 2-3 weeks  Bank onboarding
specialist
 City cash manager
 Confirm setup requirements
 Order supplies for deposits
 IVR instructions for ordering cash
Positive pay with
payee name

2-4 weeks
4-6 weeks
(with
transmissions)
 Bank onboarding
specialist
 Bank training team
 City A/P team
 City security
administrators
 City end users
 Confirm setup requirements
 MICR and payee name testing
 Create positive pay file and test upload
process
 User and entitlement setup
 End user ID activation
 Product training
 Activate positive pay
Remote Deposit
Capture
Remote Lockbox
Capture
Without
lockbox 2-3
weeks
With lockbox
3-4 weeks

 Bank onboarding
specialist
 Bank training team
 City A/R team
 City end users
 Confirm setup requirements
 Order scanner
 Scanner installation
 Product training
 ACH direct send
 File
transmission
connectivity for
prior and/or
current-day
BAI2
transmission
 Positive pay
transmission
 Reconciliation
4-6 weeks  Bank onboarding
specialist
 Bank technical IPM
 Bank connectivity
 City IT
 City connectivity
 Confirm setup requirements
 User acceptance testing setup
 Successful file and connectivity testing
 User acceptance testing sign-off
 Partner key exchange
 Successful production verification test

City Resources (Section 10) | 207 |
Implementation time averages, resources and critical success factors Service
Expected lead
time (1) Resources Critical factors
Wholesale
lockbox
 Receivables
Online
 Data file
transmission

1-2 weeks
(open
Lockbox)
6-8 weeks
(standard file
format)
12-16 weeks
(custom file
format)
 Bank onboarding
specialist
 Bank technical IPM, if
applicable
 Bank connectivity, if
applicable
 Bank Training team
 City A/R manager
 City IT, if applicable
 City connectivity
analyst, if applicable
 City security
administrators
 City end users
 Confirm lockbox processing instructions
 Finalize data file transmission requirements, if
applicable
 Programming and customizations
 Successful file and connectivity testing, if
applicable
 Partner key exchange, if applicable
 User and entitlement setup
 End user ID activation
 Product training
File
Transmission
Payments (3)
 U.S. ACH
 Wires
 Check print
8-10 weeks
(standard file
format)
12-16 weeks
(custom file
format)
 Bank onboarding
specialist
 Bank host-to-host
project manager
 Bank host-to-host
release manager
 Bank technical IPM
 Bank connectivity
analyst
 City A/P manager
 City IT
 City connectivity
 Confirm payment types, file format and
connectivity
 Confirm setup requirements
 Receive check print logo and signatures
 Review/approve statement of work
 Conduct technical/mapping discussion
 User acceptance testing setup and
programming
 Successful file and connectivity testing
 User acceptance testing signoff
 Partner key exchange
 Successful production verification test
(1) The expected lead times are estimates for standard product setups. Actual lead-time varies according to complexity of business requirements. Complex and/or large implementations may take longer than described above. (2) Original paperwork must be received before setup may begin (3) The standard file format represents the formats that are implemented without development on the bank side (i.e., ISO20022, ANSI and Global Flat File). The custom file format represents the formats that we support but require development by us.

Virtual card implementation
Our virtual card implementation process is focused on integrating our solution with your existing financial systems and your current purchasing and payment processes.

City Resources (Section 10) | 208 |
Once you have an approved purchase or payment, your system simply requests a virtual card to append to that approved document. This allows users to continue employing your current systems for all procurement and reporting activities, without the need to access a separate J.P. Morgan system.

The timeline to implement a virtual card program is generally 75 days and our approach is easy.

Three-phased, easy implementation approach for virtual card

Design
 You engage with your experienced J.P. Morgan product implementation specialist  You provide insights into your organization, your culture, program objectives and processes  Our product implementation specialist recommends program solutions to meet your needs efficiently and expeditiously

Build
 We finalize program elements together so the solution meets your expectations  We assist your Technology team with file development and integration with your financial system

Launch
 Your product implementation specialist confirms your program is successfully integrated into your organization
 Next, your product implementation specialist provides the tools and resources for successful supplier recruitment and onboarding
 As you continue to work with your vendors, you can confidently manage your program

The following is a high-level project plan for the critical activities and milestones for the proposed solution.

Project plan

Figure 45

City Resources (Section 10) | 209 |
Please note that the campaign management and supplier recruitment process runs concurrently with implementation. It typically takes approximately 12 weeks to complete (including preparation and campaign time), but may be shorter or longer based on your number of suppliers to contact and on your level of engagement.

Throughout the course of implementation, product implementation specialist and other service team members conduct regular project status and progress review updates including:
● Weekly implementation status calls with the J.P. Morgan implementation team to review overall status and cover key action items and outstanding issues for both technical and business teams ● Weekly recruitment reports to summarize and detail progress of the J.P. Morgan supplier recruitment campaign
Implementation resources required from the City
We typically require the following resources from our clients as part of a virtual card implementation—one individual may fill multiple roles, and more than one resource can share a single role:
● Your executive sponsor ultimately responsible for the success of the project who gains buy-in from stakeholders prior to project kickoff, secures internal alignment, communicates the importance of the project at kickoff, resolves escalated issues and approves deliverables during implementation ● Your project manager with overall responsibility for the completion of tasks assigned to your project team works closely with the J.P. Morgan project manager to support proper coordination and execution of the project plan
● Your supplier management lead, usually a resource separate from the project manager or other major roles, as the point person for coordinating vendor management and supplier activation responsibilities surrounding supplier recruiting and acceptance processes ● Your accounts payable (or ERP) system lead, familiar with the design and process of your organization’s accounts payable or ERP system, and a thorough understanding of the invoice, payment, and payment file creation and/or the check printing process ● Your network operations specialist with a working knowledge of your architecture, including network, firewall, internet connectivity, file transport and digital certificates ● Your developer responsible for the development of outbound payment files and the retrieval and processing of inbound confirmation and reconciliation files

Subcontractors (Section 11) | 210 |
Subcontractors (Section 11)
If subcontractors are to be used, identify each of them in the proposal. Describe the work to be performed by them and the number of hours or the percentage of time they will devote to the project. Provide a list of their assigned staff, their qualifications, relationship to project management, schedule, costs, and hourly rates.

We do not intend to utilize subcontractors for any of the services proposed in response to this RFP. All services will be provided exclusively by J.P. Morgan.

Nevertheless, J.P. Morgan is prepared to engage in discussions regarding the potential use of subcontractors, should the City’s needs or preferences require such arrangements. Furthermore, J.P. Morgan is open to considering the partial award of business or specific service groups outlined in the RFP, subject to further negotiation and mutual agreement.

Contractor Capability and References (Section 12) | 211 | Contractor Capability and References
(Section 12)
Provide a summary of the firm's relevant background experience. Discuss the applicability of such experience to this RFP. Include examples of projects completed for other similar agencies that are of a similar nature and a contact person for each of those clients.

Our firm has extensive experience in providing financial services to a variety of clients, including local governments. In addition to the 16,000+ end-to-end implementations completed each year by J.P. Morgan, we have successfully implemented more than 360 new Commercial Bank Government clients between 2020 and 2024. Our experience includes managing complex
implementations for state programs with multiple agencies and political subdivisions, as well as providing tailored treasury solutions for local municipalities.

Included as a reference in this RFP response is the City of Santa Monica who can speak to our implementation experience.

For more detailed client references, please review the references under Section G of this RFP.

OUR PROVEN TRACK RECORD 98% of our clients are satisfied or delighted with our service managers 96% rate their service experience with us as superior to other banks with whom they do business

Alternative Proposals (Section 13) | 212 |
Alternative Proposals (Section 13)
Provide statements of alternative proposals, if any, labeled "Alternative Proposal Number One, Alternative Proposal Number Two," etc. The format of each alternative proposal submitted may be abbreviated to address just the following:
a. Work Program
b. Methodology
c. Assigned Personnel
We are proposing all requested services in whole or in part with no impact to the scope of services or pricing, based off of the scope of award.

Conflict of Interest (Section 14) | 213 |
Conflict of Interest (Section 14)
Address possible conflicts of interest with other clients affected by actions performed by the firm on behalf of the City. Although the bidder will not be automatically disqualified by reason of work performed for other parties, the City reserves the right to consider the nature and extent of such work in evaluating the proposal.

J.P. Morgan and its affiliates may be providing treasury services, debt financing, equity capital or other services (including financial advisory services) to other companies, organizations or governmental entities with which you may have conflicting interests. J.P. Morgan does not believe that the provision of those services, products or financing arrangements in the ordinary course of its business to any such entity would interfere with its ability to provide the services contemplated by this proposal. J.P. Morgan has an obligation to treat all clients fairly.

J.P. Morgan’s policies and procedures are designed to help ensure that the company pays due regard to the interests of each client and manages any potential conflict of interest appropriately and consistently with our Code of Conduct. For additional information, please refer to J.P. Morgan’s Code of Conduct:
https://www.jpmorganchase.com/about/governance/code-of-conduct

Documentation | 216 |
Documentation
J.P. Morgan has received RFP#840 for Commercial Banking and/or Procurement Card Services (the “Solicitation”), issued by City of Monterey Park (“Issuer”) and is submitting its proposal or requested information in response (the “Response”), which outlines its product and service capabilities and/or pricing as requested in the Solicitation. The Solicitation includes requests that the bidder/proposer provide certain certifications or sworn statements (collectively “Certifications”) and/or specific comments to or modifications of included standard terms and conditions, sample agreements, incorporated procurement rules, laws, and the like referenced in the Solicitation (collectively, “Issuer’s Standard Terms”). In addition, the Solicitation may indicate that any response provided by bidders/proposers constitutes an acceptance of all Issuer’s Standard Terms and concurrence with Certifications, unless expressly modified or objected to within the response.

J.P. Morgan has robust internal procedures under which Certifications and Issuer’s Standard Terms are thoroughly reviewed and vetted, from a legal, business, and factual perspective prior to entering any agreement or offer that confirms the accuracy of Certifications (if any) and/or agreement to Issuer’s Standard Terms. Except for those Certifications that we have specifically included within our Response, (“Express Certifications”), we have not invoked our internal review process in connection with any other Certifications or Issuer’s Standard Terms that may be included within this Solicitation and, accordingly our Response should not be construed as and does not constitute any express or inferred acceptance of the other Certifications and/or Issuer’s Standard Terms. Rather, in lieu of any agreement to Issuer’s Standard Terms or attestation of matters contained within the Certifications, we have enclosed within the Response our standard Account Terms, Addendum to Account Terms, United States of America, Consolidated Service Terms, and other documents that may be required by us from time to time to provide products or services to you (“Account and Service Terms”). The current Account and Service Terms applicable to the services and types of accounts that are the subject of the Solicitation are included in Appendix

14. These are provided in addition to the other components of our Response, relative to product/service descriptions and pricing.

If we are awarded the business referenced in the Solicitation, or conditionally awarded the business, subject to agreement between us as to terms and conditions under which the services are to be performed and the certifications to be provided by J.P. Morgan, we will discuss modifications to these Account and Service Terms and incorporation of specific Certifications, where appropriate, to try to meet your needs and specific legal requirements applicable to you. These will be incorporated within a mutually agreeable contract between us.

Please keep in mind, however, that J.P. Morgan’s policies do not allow for:
● The provision of unlimited indemnities;
● Conveyance of intellectual property rights;
● Acceptance of liability except to the extent caused by our breach of contract, negligence, or willful misconduct;
● Acceptance of consequential, incidental, or special damages; ● Liquidated damages;
● Agreement to miscellaneous laws, regulations, ordinances, codes, etc. that do not on their face apply to J.P. Morgan as provider of the services that are the subject of the Solicitation; or ● Deviations from the insurance coverage J.P. Morgan carries

Documentation | 217 |
Except as modified by our negotiations following notification of award or conditional award of the business referenced in the Solicitation and set forth in the final agreement between us, we anticipate that the Account and Service Terms, as applicable to services and accounts contemplated by the Solicitation will be incorporated within such final agreement. Other that those matters that are expressly affirmed in the Express Certifications contained in our Response, any Certifications and/or Issuer Standard Terms that the Solicitation may otherwise impute to any bidder/proposer submitting a response thereto, are not incorporated into, and may not be inferred, as a result of this Response.

Disclosure statement | 218 |
Disclosure statement
This document was prepared exclusively for the benefit and internal use of the party to whom it is directly addressed and delivered (the “Organization”) in order to assist the Organization in evaluating certain products or services that may be provided by J.P. Morgan.

Chase, J.P. Morgan, and JPMorganChase and InstaMed are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (if and as used herein may include as applicable employees or officers of any or all of such entities irrespective of the marketing name used). Products and services may be provided by commercial bank affiliates, securities affiliates or other J.P. Morgan affiliates or entities. In particular, securities brokerage services other than those which can be provided by commercial bank affiliates under applicable law will be provided by registered broker/dealer affiliates such as J.P. Morgan Securities LLC, J.P. Morgan Institutional Investments Inc. or by such other affiliates as may be appropriate to provide such services under applicable law. Such securities are not deposits or other obligations of any such commercial bank, are not guaranteed by any such commercial bank and are not insured by the Federal Deposit Insurance Corporation. We are not responsible for the performance of our partners, their continued service levels, or their ability to provide services.

The information herein does not purport to set forth all applicable issues and is not intended to constitute advice on legal, tax, investment, accounting, regulatory or any other matters. J.P. Morgan makes no representations as to such matters or any other effects of any transaction and shall have no responsibility or liability to you with respect thereto. You should consult with your own advisors regarding such matters and the suitability, permissibility and effect of any transaction. In no event shall J.P. Morgan nor any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon, or for any inaccuracies or errors in, or omissions from, the information herein. The information herein is not intended as nor shall it be deemed to constitute advice or a recommendation regarding the issuance of municipal securities or the use of any municipal financial products. J.P. Morgan is not providing any such advice or acting as the Organization’s agent, fiduciary or advisor, including, without limitation, as a Municipal Advisor under Section 15B of the Securities and Exchange Act of 1934, as amended.

Money Market Funds:

NOT FDIC INSURED ∙ NO BANK GUARANTEE ∙ MAY LOSE VALUE
You could lose money by investing in a money market fund. With respect to a money market fund that qualifies as a “retail” or “government” money market fund under applicable money market fund regulations, although the money market fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. In the case of a money market fund that does not qualify as a “retail” or “government” money market fund, because the share price of the money market fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. If a money market fund does not qualify as a “government” money market fund, effective October 14, 2016, the money market fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the money market fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. A money market fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

For J.P. Morgan Funds – Call 1-800-766-7722 for a fund prospectus. You can also visit us online at www.jpmorganfunds.com. Investors should carefully consider the investment objectives and risk as well as charges and expenses of the mutual fund before investing. The prospectus contains this and other information about the mutual fund. Read the prospectus carefully before investing.

JPMorgan Funds are distributed by JPMorgan Distribution Services, Inc., which is a subsidiary of JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. may receive compensation from the fund, the management company for the fund and/or the distributor of the fund for providing services as described in the prospectus for the funds. Affiliates of JPMorgan Chase & Co. also receive fees for providing various services to the funds. Securities may be provided by J.P. Morgan Institutional Investments, Inc., member FINRA/SIPC.

For Third Party Funds – The distributors of the third-party funds are not affiliated with J.P. Morgan. J.P. Morgan may receive compensation from a third-party fund, the management company for the third-party fund and/or the distributor of a third-party fund for providing services as described in the prospectus for the funds.

For all Funds – Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. This and other important information is included in the fund’s prospectus, which should be read carefully before investing. Prospectuses for mutual funds can be obtained by contacting your relationship manager.

This proposal is subject to and conditioned upon a mutually agreeable contract between the Organization and J.P. Morgan. J.P. Morgan also requires execution of all applicable product and service agreements. Implementation of products and services is subject to and conditioned upon the condition of satisfactory completion of J.P. Morgan’s “Know Your Customer” due diligence and meeting product requirements. These steps are included in J.P. Morgan’s client onboarding process.

This document may contain information that is confidential and/or proprietary to J.P. Morgan, which may only be used in order to evaluate the products and services described herein and may not be disclosed to any other person. Such information is marked “confidential” and may not be copied, published or used, in whole or in part, for any purpose other than as expressly authorized by J.P. Morgan.

Additionally, this document may contain content pertaining to J.P. Morgan initially generated by AI or other automated technologies.

To help the United States government fight the funding of terrorism and money laundering activities, U.S. law (Section 326 of the USA PATRIOT Act) requires banks and certain other financial institutions to obtain, verify, and record information that identifies each client that opens an account. What this means for our clients: Before opening a new account, we will require you to provide name, address, taxpayer identification number, and other information and/or documentation that will allow us to identify the account owner(s), as required by law.

JPMorganChase & Co. and its affiliates (JPMorganChase) may perform certain services and functions outside the United States that are indirect, ancillary, redundant back-up, back office, exception processing or services that are incidental to the performance of any resulting contract or agreement. In addition, for business resiliency purposes and disaster recovery services, subject to JPMorganChase cybersecurity and privacy policies, certain services and functions may be performed outside of the United States. JPMorganChase reserves the right to store, access, view or process any data wherever it deems appropriate for the services JPMorganChase provides. For data security and due to the sensitive nature of this information, JPMorganChase does not provide specific details on the location of its data or back-up centers, as such details are confidential and proprietary to the firm and is not for public disclosure.

Please note that we do not issue cards and prohibit use of our cards in any country against which the United States has imposed sanctions. A current list of such sanctioned countries, as well as information about sanctions, is available on the U.S. Department of the Treasury website: treas.gov/offices/enforcement/ofac.

J.P. Morgan is licensed under U.S. Pat Nos. 5,910,988 and 6,032,137.

PaymentNet® is a registered trademark of JPMorgan Chase & Co. MasterCard® and smartdata.gen2™ are trademarks of MasterCard International. Visa® is a registered trademark of Visa Inc.

Microsoft®, Excel®, and Internet Explorer® are registered trademarks of Microsoft Corporation. Adobe Acrobat® is a registered trademark of Adobe Systems Incorporated.

If this is a Commercial Card product proposal, this proposal is valid for 180 days from October 3, 2025. J.P. Morgan reserves the right to amend this proposal thereafter.

All trademarks, trade names and service marks appearing herein are the property of their respective owners.

This document does not constitute a commitment by any J.P. Morgan entity to extend or arrange credit. © 2025 JPMorgan Chase & Co. All Rights Reserved. JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured.

J.P. Morgan supports sustainable business practices and adheres to the principles of environmental sustainability wherever possible.

JAMES CALUCIN Treasury Management Officer 300 S Grand Ave, Floor 03 Los Angeles, CA 90071-3109 (213) 621-8437 [email protected] SYDNEY AYLWARD Relationship Executive 3 Park Plz, Floor 09 Irvine, CA 92614-8505 (213) 621-8145 [email protected]

Table of Contents | i |
●

RFP # 840 | October 6, 2025
Commercial Banking and Procurement Card Services PART II – COST PROPOSAL 3 Park Plaza, Floor 9 Irvine, CA 92614-8505 Proposal for City of Monterey Park

Table of Contents | ii |
Table of Contents
TABLE OF CONTENTS ............................................................................................................................................ II PART II - COST PROPOSAL .................................................................................................................................... 1 TREASURY SERVICES PRICING ............................................................................................................................ 3 COMMERCIAL CARD FINANCIAL PROPOSAL ................................................................................................... 12

PART II - COST PROPOSAL | 1 |

PART II - COST PROPOSAL
(Refer to Scope of Work, Exhibit “C”)
Name and Address
The Cost Proposal must list the name and complete address of the bidder in the upper, left-hand corner.

Cost Proposal
The Cost/Price format for the proposal must be as outlined in the Agreement for services. Exhibit A Total cost must be clearly indicated at the end of the Cost Proposal and entered on the first page of the proposal.

Costs must be itemized per the agreement for services.

Charges for supplies, equipment, travel, and subcontractors will be paid at cost. It is expected that general, overhead, and administrative costs are included in the hourly rate for labor. Bids submitted will be held to the total cost given in the response quote. It will be assumed that all contingencies and/or anticipated escalations are included. No additional funds will be paid above and beyond the original quote given by the selected bidder.

The City’s financial health is our top priority and we want to show you what financial benefits we can offer you:

Financial incentives summary

Pricing and incentives

Transition credit (1) $75,000

Waiver yields potential interest earnings on average
balance of $2.5 million
$64,250 value

Maximized liquidity

Earnings credit rate 2.80%

Hybrid demand deposit account rate 2.70%

Commercial Card

Estimated rebate on $2 million annual spend $15,145

(1) To be applied to account analysis for the first 12 months after account opening.

PART II - COST PROPOSAL | 2 |
Commercial card rate and fee structure
Our rate and fee structure for credit cards includes various components. Please refer to our Cost Proposal. ● Cash Advance Fees: Cash advance fees are 2.5% of the amount advanced, with a minimum fee of $2.50 and no maximum limit.
● Convenience Check Fees: Convenience check fees are 2% of the check amount, with a minimum fee of $1.50 and no maximum limit.
● Executive Card Fee: The annual fee per Executive Card is $75. ● International Transaction/Foreign Currency/Conversion Fees: For each international transaction, a

1.5% fee is imposed for transaction processing. This fee is waived for new and existing clients on a Visa virtual card program only.
● Rush Card Replacement Fee: There is no fee for rush card replacement. ● Late Fees: If payment in full is not received, late payment charges are applied as follows:
 Central bill: 1% of the past due amount assessed at the end of the cycle in which payment first became due and each cycle thereafter.
 Individual bill: 1% of the past due amount assessed 28 days after the end of the cycle in which payment first became due and each cycle thereafter.

Pricing Schedule
Invoice Info Label Invoice Info Value
Date: October 2025
Invoice Info Label Invoice Info Value
Name: CITY OF MONTEREY PARK
Model Name: Full Banking Services
Pricing Schedule Summary
Total Service Fees $6,647.95
Balance Incentive1 ($6,215.37)
Based on balance eligible for fee offset
Estimated Monthly Amount Due $432.58
Balance Eligible for Fee Offset $2,613,605.00
* Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis - Volumes and Balances on this Pricing Schedule are estimated. Actual volumes and balance may be different, which will result in different charges than are specified above.

Activity Summary
Item Service Tier Price Volume Total
Account Services Account Maintenance $5.0000 6 $30.00
Acct Maint-Int $5.0000 0 $0.00
Acct Maint-Int Adj Bal $5.0000 1 $5.00
Audit Confirmations Flat $150.00 - $150.00
$0.0000 0 $0.00
Check Image - Transmission $0.0000 0 $0.00
Credit Posted- Electronic $0.0500 338 $16.90
Daily Overdraft Occurrence Fee $50.0000 0 $0.00
Debit Posted - Electronic $0.0500 112 $5.60
Online Audit Confirmations Flat $35.00 - $35.00
$0.0000 0 $0.00
Post No Checks Maintenance $0.0000 0 $0.00
Statement Cycles 1 - 1 $0.0000 1 $0.00
2+ $5.0000 - $0.00
1 $0.00
$57.50
Automated Clearing House ACH Batch/File Processed $5.0000 15 $75.00 ACH Maintenance $5.0000 1 $5.00
ACH Online Same Day Credit $0.0300 0 $0.00
ACH Online Same Day Debit $0.0300 0 $0.00
ACH Originated Same Day Credit $0.0300 0 $0.00
ACH Originated Same Day Debit $0.0300 0 $0.00
ACH Positive Pay Exception $0.0000 0 $0.00
ACH Trans Block Authorized Id $0.5000 0 $0.00
Addenda Record Originated $0.0100 0 $0.00
Credit Originated $0.0100 38 $0.38
Credit Originated - JPM Access $0.0100 4,345 $43.45
Credit Received $0.0500 338 $16.90
Debit Originated $0.0100 0 $0.00
Debit Originated - JPM Access $0.0100 6 $0.06
Debit Received $0.0500 112 $5.60
Deletion / Reversal - Elec $1.0000 0 $0.00
Deletion / Reversal - Manual $5.0000 0 $0.00
Elockbox Addenda Received $0.0200 0 $0.00
Elockbox CCCS Premium $0.0000 0 $0.00
Elockbox File Processing $10.0000 0 $0.00
Elockbox Implementation* $1,000.0000 0 $0.00
Elockbox Maintenance $150.0000 0 $0.00
Elockbox Transaction Received Minimum $100.00 - $100.00 $0.1500 0 $0.00
Elockbox Transaction Reformat $0.1500 0 $0.00
JPM Access ACH Maintenance $5.0000 3 $15.00
* Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis - Volumes and Balances on this Pricing Schedule are estimated. Actual volumes and balance may be different, which will result in different charges than are specified above.

Activity Summary
Item Service Tier Price Volume Total
Notif Of Change - Email $0.2500 0 $0.00
Notif Of Change - Online $3.0000 22 $66.00
Notification Of Change $3.0000 22 $66.00
Return Item $2.0000 3 $6.00
Return Item Redeposit $3.5000 0 $0.00
Return Notification - Email $0.2500 0 $0.00
Return Notification - Online $1.0000 3 $3.00
Transaction Block Maintenance $5.0000 7 $35.00
$337.39
BAI/Swift/ISO Reporting H2H Accounts Reported $5.0000 0 $0.00 H2H Check Items Reported $0.1500 0 $0.00
H2H Files Transmitted Over 67 1 - 67 $0.0000 - $0.00
68+ $5.0000 - $0.00
0 $0.00
H2H Non-Check Items Reported $0.1500 0 $0.00
H2H Trans Detail Reported $0.0500 0 $0.00
$0.00
Balance Based Charges Balance Based Charges $288.5700 1 $288.57 $288.57
Banking Center Services ATM Cash Deposit - Image $0.0000 0 $0.00 ATM Check Deposit - Image $0.0000 0 $0.00
ATM Deposit $0.0000 0 $0.00
Branch Coin Deposit Bag $0.0000 0 $0.00
Branch Coin Deposit Full Bag $2.0000 0 $0.00
Branch Credits Posted $1.5000 0 $0.00
Branch Deposit Adjustment $8.0000 0 $0.00
Branch Deposit In Non Std Bag $2.0000 0 $0.00
Branch Deposit-Bagged Coin $7.5000 0 $0.00
Branch Order - Coin Roll $0.1000 1 $0.10
Branch Order Currency Strap $0.2500 0 $0.00
Branch Order Processed $1.5000 1 $1.50
Night Drop Cash Verification $0.0030 0 $0.00
Teller Line Cash Verification $0.0010 0 $0.00
$1.60
Depository Services Check Deposited-On Us $0.0500 0 $0.00 Check Deposited-Transit $0.0700 0 $0.00
Credits Posted $1.5000 21 $31.50
Remote Deposit Capture Item $0.0500 1,546 $77.30
Remote Deposit Capture Maint $5.0000 1 $5.00
* Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis - Volumes and Balances on this Pricing Schedule are estimated. Actual volumes and balance may be different, which will result in different charges than are specified above.

Activity Summary
Item Service Tier Price Volume Total
Remote Deposit Capture Mobile $1.0000 0 $0.00
Return - Email Notification $1.0000 5 $5.00
Return Alternate Address $2.5000 1 $2.50
Return Image $1.0000 5 $5.00
Return Item $2.0000 4 $8.00
Return Item Redeposit $1.5000 0 $0.00
$134.30
Disbursement Services Check Inquiry Maintenance $5.0000 0 $0.00 Check Print Direct Entry $3.0000 0 $0.00
Check Print File Upload $10.0000 0 $0.00
Check Print Input File $10.0000 0 $0.00
Check Print Item-Jpm Acct $0.6500 0 $0.00
Check Print Item-Non Jpm Acct $1.5000 0 $0.00
Check Print Maintenance $0.0000 0 $0.00
Check Print Maintenance $65.0000 0 $0.00
Check Print Online Maint $75.0000 0 $0.00
Check Print Postage $0.6179 0 $0.00
Check Prnt Cashier's Check $10.0000 0 $0.00
Electronic Stop Payment $0.0000 0 $0.00
Exception Notification - Acct $10.0000 5 $50.00
Image Storage Per Item $0.0350 0 $0.00
Image Transmission Per Item $0.0100 0 $0.00
Image Transmission Per Trans $5.0000 0 $0.00
Imaging Maintenance $0.0000 0 $0.00
Issue Input Upload $1.0000 0 $0.00
Manual Stop Payment $0.0000 0 $0.00
Range Stop Payment-Electronic $5.0000 0 $0.00
Recon Report / Statement Maint $0.0000 0 $0.00
Stop Payment - Electronic $5.0000 0 $0.00
Stop Payment - Manual $10.0000 0 $0.00
Stop Payment Automatic Renewal $1.0000 0 $0.00
$50.00
Host To Host H2H Monthly Maintenance Fee $100.0000 0 $0.00 H2H Monthly Trans Fee $350.0000 0 $0.00
$0.00
Int Rec & Pay - Report Alerts - Per Alert $1.0000 0 $0.00 Extended Image Storage $0.0050 0 $0.00
Long Term Storage $0.0000 0 $0.00
Long Term Storage - Check $0.0500 4,894 $244.70
Long Term Storage - Document $0.0800 5,415 $433.20
* Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis - Volumes and Balances on this Pricing Schedule are estimated. Actual volumes and balance may be different, which will result in different charges than are specified above.

Activity Summary
Item Service Tier Price Volume Total
Receivables Main - Reports $25.0000 0 $0.00
Receivables Maint - Downloads $35.0000 0 $0.00
Receivables Maint - Online $200.0000 2 $400.00
Receivables Maint - Returns $30.0000 0 $0.00
Receivables Maintenance $0.0000 0 $0.00
Receivables Maintenance Report $0.0000 0 $0.00
Transmission Maint - Data $50.0000 1 $50.00
Transmission Maint - Image $50.0000 0 $0.00
Transmission Maint - Inbound $125.0000 0 $0.00
Transmission Per Item - Data $0.0600 6,696 $401.76
Transmission Per Item - Image $0.0250 0 $0.00
$1,529.66
JPMorgan Access Accounts Reported $10.0000 7 $70.00
Acct Transfer Item $2.2500 18 $40.50
Extended Transaction Detail $0.0000 2,770 $0.00
Monthly Service $25.0000 1 $25.00
Transactions Reported - 1 Year $0.2000 0 $0.00
Transactions Reported - 2 Year $0.3000 0 $0.00
Transactions Reported - 45 Day $5.0000 0 $0.00
Transactions Reported - 90 Day $0.1000 2,770 $277.00
$412.50
Liquidity Services In-Country Sweep Master $5.0000 1 $5.00 In-Country Sweep Participant $5.0000 6 $30.00
Money Mkt Fund EOD Sweep-Maint $0.0000 1 $0.00
$35.00
Managed Services Concourse Automated Call/Chat $0.1300 0 $0.00 Concourse Express Minimum $350.00 - $350.00
$0.7000 0 $0.00
Concourse Live Agent Call/Chat $2.7500 0 $0.00
Concourse Monthly Subscription 1 - 500 $750.0000 - $0.00 501 - 1,000 $1,000.0000 - $0.00
1,001 - 3,000 $1,500.0000 - $0.00
3,001 - 6,500 $3,000.0000 - $0.00
6,501+ $5,000.0000 - $0.00
0 $0.00
$0.00
Other Product Services AVS Account Authentication 1 - 1,000 $0.4000 - $0.00 1,001 - 5,000 $0.3500 - $0.00
5,001 - 25,000 $0.3000 - $0.00
* Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis - Volumes and Balances on this Pricing Schedule are estimated. Actual volumes and balance may be different, which will result in different charges than are specified above.

Activity Summary
Item Service Tier Price Volume Total
25,001+ $0.2500 - $0.00
0 $0.00
AVS Account Verification 1 - 1,000 $0.4000 - $0.00
1,001 - 5,000 $0.3500 - $0.00
5,001 - 25,000 $0.3000 - $0.00
25,001+ $0.2500 - $0.00
0 $0.00
AVS Micro Deposit 1 - 999 $0.4000 - $0.00
1,000 - 4,999 $0.3800 - $0.00
5,000+ $0.3600 - $0.00
0 $0.00
AVS Standard 1 - 999 $0.4000 - $0.00
1,000 - 4,999 $0.3800 - $0.00
5,000+ $0.3600 - $0.00
0 $0.00
Account Confidence Score $0.5000 0 $0.00
Business Validation - Non-US 1 - 1,000 $4.0000 - $0.00
1,001 - 5,000 $3.7500 - $0.00
5,001+ $3.5000 - $0.00
0 $0.00
Business Validation - US 1 - 1,000 $3.0000 - $0.00
1,001 - 5,000 $2.9000 - $0.00
5,001+ $2.7500 - $0.00
0 $0.00
Individual Validation - Non-US 1 - 1,000 $3.0000 - $0.00 1,001 - 5,000 $2.9000 - $0.00
5,001+ $2.7500 - $0.00
0 $0.00
Individual Validation - US 1 - 1,000 $0.7500 - $0.00
1,001 - 5,000 $0.7300 - $0.00
5,001+ $0.7000 - $0.00
0 $0.00
$0.00
Reconciliation Services Account Reconciliation - Maint $0.0000 0 $0.00 Check Exception Return $5.0000 0 $0.00
Chk Protect Issuance And Recon $0.0000 0 $0.00
Data Entry - Manual $3.0000 0 $0.00
Deposit Recon Maintenance $10.0000 0 $0.00
Exception Item $0.7500 2 $1.50
Excessive ARP Rejects $2.0000 0 $0.00
Full Reconcilement - Maint $5.0000 5 $25.00
Full Reconcilement - Per Item $0.0550 712 $39.16
* Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis - Volumes and Balances on this Pricing Schedule are estimated. Actual volumes and balance may be different, which will result in different charges than are specified above.

Activity Summary
Item Service Tier Price Volume Total
Image Capture Per Item $0.0500 712 $35.60
Issue File Transmittal Report $4.0000 0 $0.00
Issue Input File With Recon $3.0000 47 $141.00
Issue Input Without Recon $10.0000 0 $0.00
Output File 1 - 3 $25.0000 - $0.00
4+ $10.0000 - $0.00
0 $0.00
Partial Reconcilement - Maint $65.0000 0 $0.00
Partial Reconciliation-Per Itm $0.2000 0 $0.00
Payee Name Verification $0.0200 0 $0.00
Positive Pay Maintenance $0.0000 5 $0.00
$242.26
Scannable Lockbox SNLB Balancing $0.1000 0 $0.00
SNLB Credit Card Authorization $2.0000 0 $0.00
SNLB Duplicate Deposit Advices $0.0000 0 $0.00
SNLB OCR Doc Image Capture $0.1000 1,605 $160.50
SNLB OCR Document $0.0500 1,605 $80.25
SNLB Scannable Item $0.3000 1,605 $481.50
SNLB Sort - Manual $0.6000 0 $0.00
Special Image HanDLIng $0.2000 0 $0.00
$722.25
Vault Services Vault Dep Partial Or Mixed Bag $7.5000 0 $0.00 Vault Deposit $2.0000 20 $40.00
Vault Deposit Adjustment $2.5000 0 $0.00
Vault Deposit Per $1,000 $0.7500 109 $81.75
Vault Deposit Rolled Coin $0.2000 25 $5.00
Vault Deposit Std Coin Bag $2.5000 0 $0.00
Vault Deposit Std Strap - Note $0.0000 0 $0.00
Vault Deposit w/ Coin $0.0000 0 $0.00
Vault Email Notification $0.0000 0 $0.00
Vault ExpEdited Special Orders $30.0000 0 $0.00
Vault Maintenance $0.0000 1 $0.00
Vault Notes Deposited $0.0000 0 $0.00
Vault Order - Coin Roll Box $0.1200 0 $0.00
Vault Order Coin Rolls $0.1500 0 $0.00
Vault Order Curr Non Std Strap $0.0250 0 $0.00
Vault Order Currency Std Strap $0.4000 0 $0.00
Vault Standard Orders $5.0000 0 $0.00
$126.75
Wholesale Lockbox Additional Programming* $150.0000 28 $4,200.00 * Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis - Volumes and Balances on this Pricing Schedule are estimated. Actual volumes and balance may be different, which will result in different charges than are specified above.

Activity Summary
Item Service Tier Price Volume Total
Cash Processing $11.0000 0 $0.00
Check Clearing $0.1100 3,348 $368.28
Check Micr Capture $0.0250 3,348 $83.70
Closed Program Viewing $100.0000 0 $0.00
Courier Delivery Service $10.0000 0 $0.00
Data Capture $0.0160 22,659 $362.54
Deposit Preparation $2.2500 21 $47.25
Document Image Capture $0.1500 3,810 $571.50
Groups/Sorts-Simple $0.0000 0 $0.00
Incoming Courier Package $30.0000 1 $30.00
Lockbox - Maint $225.0000 1 $225.00
Multiple Deposit Accounts $25.0000 0 $0.00
No Check Item $0.5500 15 $8.25
Online Decision Mgr Maint $250.0000 0 $0.00
Paper Check Copy $3.5000 0 $0.00
Paper Delivery Prep $2.0000 0 $0.00
Postage $0.6179 0 $0.00
Special Handling Other $1.5000 0 $0.00
Unprocessable Item $1.0000 15 $15.00
WNLB 25+ Accep Pay 10+ Unaccep $3.5000 0 $0.00
WNLB >10 Accep Pay > 5 Unacce $1.0000 0 $0.00
WNLB Additional Daily Deposit $25.0000 0 $0.00
WNLB Balancing $0.1500 0 $0.00
WNLB Credit Card Authorization $2.0000 0 $0.00
WNLB Duplicate Deposit Advices $60.0000 0 $0.00
WNLB Economy Lockbox Image Minimum $155.00 - $155.00
$1.5000 0 $0.00
WNLB Group/Sorts - Complex $0.6500 0 $0.00
WNLB Special Processing Maint $100.0000 0 $0.00
Weekend Processing $50.0000 0 $0.00
Wholesale Item $0.5500 1,743 $958.65
$2,670.17
Wire - U.S. Book Credit $2.0000 4 $8.00
Chips Credit Repair $7.0000 0 $0.00
Chips Credit S/T $5.0000 0 $0.00
Electronic Book Debit Repair $7.0000 0 $0.00
Electronic Book Debit S/T $2.0000 3 $6.00
Electronic Chip Debit Repair $7.0000 0 $0.00
Electronic Chip Debit S/T $5.0000 0 $0.00
Electronic Fed Debit Repair $7.0000 0 $0.00
Electronic Fed Debit S/T $2.0000 3 $6.00
Fed Credit Repair $7.0000 0 $0.00
* Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis - Volumes and Balances on this Pricing Schedule are estimated. Actual volumes and balance may be different, which will result in different charges than are specified above.

Activity Summary
Item Service Tier Price Volume Total
Fed Credit S/T $5.0000 4 $20.00
$40.00
Total Service Fees $6,647.95
* Denotes Service is a one-time charge and will not appear on customer statement on a monthly basis - Volumes and Balances on this Pricing Schedule are estimated. Actual volumes and balance may be different, which will result in different charges than are specified above.

v.76848.751115

D I S C L A I M E R

Prepared for CITY OF MONTEREY PARK

F I N A N C I A L P R O P O S A L
October 3, 2025

F I N A N C I A L P R O P O S A L

2 Financial Incentives — U.S. Programs
Annual Standard Volume Incentive
J.P. Morgan is pleased to offer a volume rebate based on annual Total Charge Volume and Settlement Terms for your programs. The Settlement Terms in your contract determine the volume rebate rate we apply to the annual Net Charge Volume for your programs, according to the schedule below.

Settlement Terms of 30 & 25 means your billing cycle has 30 calendar days and you have 25 calendar days after the cycle ends to make a payment.

Discount Interchange Rate
Should Client achieve the minimum annual Total Charge Volume required to earn a Volume Rebate as stated above, Bank will pay Client a rebate based on annual Discount Interchange Rate Transaction Volume associated with each Program. The rebate will be calculated as the Discount Interchange Rebate Rate (with categories as determined according to the following schedule) multiplied by the annual Discount Interchange Rate Transaction Volume for each respective category associated with each Program, subject to the rebate adjustments below.

Combined U.S. One Card and U.S. Virtual Card programs
Volume Rebate Rate applied to annual Net Charge Volume by Program Settlement Terms
Annual Total Charge Volume at or
above: @ 30 & 14 Settlement Terms @ 30 & 25 Settlement Terms $250,000 0.20% 0.15%
$500,000 0.30% 0.25%
$1,000,000 1.05% 1.00%
$2,000,000 1.08% 1.03%
$3,000,000 1.13% 1.08%
$4,000,000 1.15% 1.10%
$5,000,000 1.17% 1.12%
$6,000,000 1.18% 1.13%
$7,000,000 1.19% 1.14%
$8,000,000 1.20% 1.15%
$9,000,000 1.21% 1.16%
$10,000,000+ 1.22% 1.17%
Discount Interchange Rebate Rate for Combined U.S. One Card and U.S. Virtual Card programs Volume by Program Settlement Terms
Settlement Terms @ 30 & 14 Settlement Terms @ 30 & 25 Settlement Terms Category 1 0.60% 0.55%
Category 2 0.15% 0.15%