Requests for Information

JEA currently requires deposit coverage for all NEW commercial accounts equal to 2X the average of their most recent 12 months of billed consumption amounts.   For commercial customers, currently these deposits are in one of the following forms: cash, letter of credit, or surety bond. JEA is researching costs and functionality for an additional Trade Credit Insurance option to secure the receivables for our largest commercial & industrial customers.  JEA expects that trade credit insurance will provide the following benefits to both JEA and our customers; security for future billed amounts, since JEA bills customers in arrears, a low cost option for customers to provide the requested security, easy process of administration, and a methodology to allocate the cost of each participant’s policy based on creditworthiness and amount of security, performance management and reporting. 

As part of the solution, JEA requests  the proposed vendor provide cost and plans for any professional services required to implement said solution into JEA's current credit and collections processes while reducing maintenance and end-user training costs.  The solution shall also include necessary set-up testing, administrative end user training onsite at JEA, and assistance to integrate into existing billing software program where all current deposit information resides.

Response Due Date: February 26, 2020