For hiring a Municipal Advisor, what does the RFP need to clarify regarding fees?

When hiring a Municipal Advisor, the Request for Proposals (RFP) should clarify that fees must be presented in a standard format. This approach ensures consistency and transparency across submissions, making it easier to compare proposals from different advisors. By having a standard format, municipalities can more effectively evaluate the cost structures of various advisors and assess their value propositions relative to the fees charged.

A standard format for fees can also help avoid confusion and allow for more straightforward negotiations if necessary. This clarity is vital for ensuring that decision-makers have a reliable foundation for comparing costs and services, leading to more informed decision-making when selecting a Municipal Advisor. Additionally, a clear presentation of fees can also support compliance with regulatory requirements and best practices in public finance.