CSD-RT RFP Recordkeeping_Administration Services Response 3-

forward sufficient funds and/or instructions to cause the remittance to be

in good order.

7.4.3.1

“Good order,” as used in this Agreement, means that all required

information and/or documentation has been supplied (including

Approved Vendor allocations for each Employee) and that the

funds are properly authorized and balance to the remittance file. A

remittance shall be considered not in good order if the amount of

funds received does not balance to the file(s) received.

7.4.3.2 VRSCO shall not credit interest nor be responsible for interest or

other earnings or loss on any funds held during this data entry and

forwarding period, or for any additional period it may hold funds

for reasons not in breach of this Agreement and beyond its control.

VRSCO will not retain all Employer remittances due to the

insufficiency of limited elements of the remittance.

7.4.4

VRSCO Return of Funds Not in Good Order.

If a remittance is

received not in good order, VRSCO shall contact the Employer

within one business day and return the funds attributable to that

portion of the remittance to the Employer within three business

days of receipt or as soon as requested by the Employer.

Resolution of not in good order funds may be obtained orally from the

Employer.

7.5

Acceptance by Approved Vendors

. Employer’s instructions shall direct all

Approved Vendors to whom funds shall be forwarded by VRSCO under this

Agreement to receive funds as provided under the terms of this Agreement.

VRSCO shall not be responsible for the Employer’s selection of Vendors.

Further, except as expressly provided in this Agreement, VRSCO shall not be

responsible under this Agreement for employee enrollment, plan or participant

reporting and compliance testing, withdrawal requests or other processing and

reporting, including, but not limited to, distribution of shareholder proxies or

reports not contemplated as part of the distribution of funds to the Approved

Vendors. VRSCO shall be considered to have discharged fully its obligations

under this Agreement with respect to the forwarding of funds when the funds and

the information have been properly distributed to the Approved Vendors.

7.6

Discarding a Submitted File

7.6.1

If a file is uploaded and found to be inaccurate, the Employer’s authorized

users can discard the file until the file is processed. When the initial file is