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Speeds funds availability. Increases working capital and improves cash flow. Returned Items – If the item is flagged as duplicate via duplicate detection the City will not be able to bypass and deposit through Remote Deposit services. Any item failing the Image Quality Analysis will display to be accepted/removed. Any item amounts that were not successfully read will need to be keyed in manually. 7.How will the Proposer return validated deposit receipts to the City for nightdeposits? Inwhat time frame? Synovus does not provide validated receipts for night drop deposits. The City retains a duplicate copy for your records and verify deposit via Synovus Gateway. 8.WhatistheProposer’snotificationandadjustmentprocessforcounterfeitbillsandfraudulentchecks? Synovus is required to send all counterfeit currency to the Secret Service. We provide documentation to the City with a copy of the counterfeit note that includes what deposit the counterfeit bill was included. Notifications can be set up for email. 9.S afekeepingServices The Proposer may be required to act as custodian of the City's investment securities. For safekeeping purposes, the Proposer would be required to evidence custody by providing an original non-negotiable safekeeping receipt. As Custodian, we would provide evidence by issuing Safekeeping Receipts for all securities received in. SuchReceipts would name the institution, describe the security, reflect ownership by the City. We would only release a security upon the authority of an authorized signer or designee.A sample copy of a Safekeeping receipt is provided as “Exhibit M”. As Custodian, we would collect all coupons and other periodic income on securities held and process any instructions received by authorized City personnel. If a transaction is unable to be transacted due to an unforeseen circumstance, our office in Birmingham would complete the transaction. All transactions have secondary verifications. As Custodian, we will provide as of the last day of each month, a detailed listing of securities held in safekeeping, including each security’s description and the current market value. How would the City be compensated for a failed security due to the Proposer’s actions as it relates to Safekeeping Services as fully detailed in the Scope of Services? Fails are done at the trading level, not the safekeeping level. The City would track the fail with their trading company. July 12, 2024Page 65 City of Sunny Isles Beach RFP 24-06-01 Banking Services - Synovus Bank Submission