FINANCIAL_SERVICESAPPROVED

City of South Daytona Fifth Third Bank Commercial Card Service Agreement April 2026

City adopts Fifth Third Bank commercial purchasing card program

Various fees per attached fee schedule, including $250 annual program fee (waived if >$350,000 annual spend), $25 per emergency replacement card, $0.10 per transaction for online reporting, 19.8% finance charge on certain balances, and other listed chargesCity of South DaytonaFIFTH THIRD BANK NATIONAL ASSOCIATIONApril 6, 2026

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Description

The City of South Daytona entered into a Commercial Card Service Agreement with Fifth Third Bank, National Association to provide a purchasing card and related treasury management services, replacing its Bank of America program. The contract establishes an ongoing commercial credit card account with defined fees, controls, and optional ePay virtual card capabilities, with a $250 annual program fee waived if annual spend exceeds $350,000 and finance charges of 19.8% on certain balances. The agreement is effective upon execution in February 2026 and continues until either party terminates with 30 days’ notice.

Contract Details

Contract Amount

Vendor

FIFTH THIRD BANK NATIONAL ASSOCIATION

Agency

City of South Daytona, FL

Contract Type

FINANCIAL_SERVICES

Document Date

April 6, 2026

Contract Term

Effective upon bank execution on 2/11/2026; continues until terminated by either party with 30 days’ written notice

Renewal Info

Agreement runs on a continuing basis starting from bank execution on 2026-02-11 and may be terminated by either party upon 30 days’ written notice; no fixed end date or automatic renewal cycle is specified.

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