All TD bank machines on campus will be replaced with CIBC machines beginning the week of Aug. 12.
The University has signed a five-year deal with CIBC, set to bring additional revenue to the AMS, EngSoc and the University, after it filed a Request for Proposal when its ABM license was brought up for review.
The announcement came via email on Tuesday to University staff from Physical Plant Services.
“We had a contract with TD bank for the current bank machines and that expired in May,” Caroline Davis, vice-principal of finance and administration, said. “You can’t just renew an existing contract.”
The University is required under provincial legislation to bring a potential new contract to public tender, she added.
An evaluation committee, consisting of representatives from the AMS, EngSoc, the University and overseen by the Strategic Procurement Services, selected CIBC out of seven proposals based on criteria involving experience, service programming and pricing.
The new agreement was signed on July 8.
Nicola Plummer, AMS vice-president of operations, couldn’t be reached for immediate comment.
“We wanted make sure what whichever company we picked would be able to provide reliable machines and we would get some good revenue, and CIBC had the strongest score,” Davis said.
The additional revenue will support the Student Initiative Fund, she said, which funds student groups, special events and activities, particularly for projects that promote inter-cultural awareness, leadership and community-building.
She couldn’t comment on how much revenue the University would receive from CIBC for the Fund, or which other companies were considered in the selection process.
She added the decision came a little later than expected.
“Ideally you do it before the [contract] expires so you’re ready for the new one the day after,” she said. “We’re a little bit late on this but it should be okay.”
All eight of the existing TD bank machines, which are located in the JDUC, Clark Hall Pub, BioSciences Complex, Mackintosh-Corry Hall, the Queen's Centre, Botterell Hall, Victoria Hall and Jean Royce Hall, will be removed beginning Aug. 12, and the new CIBC machines will be installed starting the same week.
For the full story, read the July 30 issue of the Journal.