2.4 Evaluation of Professional Advisors & Vendors

The Evaluation of Professional Advisors & Vendors policy sets forth the guidelines for renewing contracts, initiating performance evaluations, and performing Requests for Proposal (RFP) for the Trust’s professional advisors and vendors.

1. CONTRACT RENEWAL

a. The Chairperson’s Coordination Committee (CCC) shall assume the ongoing task of monitoring the quality of services provided by professional advisors and vendors and at its discretion has the authority to recommend, by consensus to the Board of Directors, renewal with the incumbent advisor or vendor. If consensus cannot be reached for recommendation of renewal, then the CCC shall recommend to the Board, a performance evaluation review be conducted.

2. PERFORMANCE EVALUATION

a. In the event that the Trust Board of Directors decides to conduct a performance evaluation, it shall be the responsibility of the Chairperson’s Coordination Committee (CCC) to facilitate the evaluation of the advisor or vendor. The CCC may be assisted by Trust Professionals not being evaluated.

b. The CCC shall conduct an evaluation survey that will measure the performance of the particular advisor or vendor. The survey shall be distributed to all Directors and Delegates.

c. In order for an individual evaluation to be considered each Director and Delegate shall complete and return the survey to a member of the CCC, within 15 days of receipt

d. In order for the Performance Evaluation survey to be valid, the survey must be signed, completed, and returned by 75% or more of the recipients.

e. If 75% of the recipients respond, the CCC must take into consideration the survey results and make a recommendation to the Board of Directors regarding contract renewal or an RFP.

f. If less than 75% of the recipients return the survey, the CCC may consider the survey findings; however, the CCC shall have full responsibility and authority to recommend to the Board of Directors, contract renewal or an RFP.

3. REQUEST FOR PROPOSAL

a. If the Board of Directors determines that an RFP needs to be sent out, it will be the responsibility of the appropriate committee to develop and conduct the RFP process.

b. The Board of Directors will have final determination regarding renewal or selection of professional advisors and vendors.