Press Releases

The West Virginia State Treasurer’s Office has canceled and reissued the Medical Cannabis Banking Request for Proposal (RFP) as a result of no one Vendor meeting all mandatory requirements in response to the original RFP (ARFP STO19 Medical Cannabis Banking) released April 25 with submissions opened for evaluation June 5, 2019.

An internal evaluation committee reviewed all five submissions and recommended cancellation of the RFP based on the vendors’ responses. No submitting vendor met all mandatory requirements and some vendors did not meet several requirements. However, each mandatory listed was met by at least one vendor. The mandatory requirements are listed in Section 4 of the canceled RFP.

As a result, the State Treasurer’s Office worked swiftly to modify the original RFP and reissue the solicitation with modifications, including a reduction of the mandatory requirements.

“While not ideal, reducing and clarifying mandatory requirements in the RFP is necessary to move forward and select a viable vendor,” said State Treasurer John Perdue. “Implementing a medical cannabis banking solution is a top priority, and my staff and I want to make sure it is done properly. Therefore, our office is committed to making the revisions necessary to ensure a qualified and capable vendor is selected and a contract is awarded.”

The original RFP was developed to obtain the quickest, most cost-effective implementation of a medical cannabis banking program that would work with the current operating systems and accounting procedures of the State of West Virginia. Changes to the original RFP could result in altered costs, timelines and internal procedures associated with implementation. However, the rebid is not expected to compromise the overall medical cannabis program. Any delays in awarding a contract for medical cannabis banking services are expected to be minimal.

“We are not discouraged. The fact that five vendors bid on the original RFP shows that there is interest in providing these banking services and there is competition. We anticipated there would be unforeseen obstacles to work through as we establish this new process. We believe revising the RFP will clarify certain requirements and issues, and will allow all potential vendors an equal opportunity to submit proposals,” Perdue said.

Because potential Vendors are already familiar with this solicitation, the timeline between today’s solicitation release and the submission deadline will be condensed from the original six weeks to four and a half weeks in an effort to expedite the process. Proposal submissions will be due July 31.

The new RFP and its attachments and addenda are available HERE on the State Treasurer’s Office website. Vendors should check the website periodically for any changes.

As before, the timeframe associated with the evaluation process varies depending on several factors, including the number of submissions, the complexity of the submissions, and the availability of committee members. There is no definitive timeline for this process.

Starting today there will be a blackout period associated with the new RFP, which means the State Treasurer’s Office will not be able to discuss the RFP until it is awarded. Requests for information regarding the RFP and proposals must be directed to Wilma Harrison at wilma.harrison@wvsto.com.






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West Virginia State Treasurer's Office
1900 Kanawha Boulevard
Capitol Complex Building #1, Room E-145
Charleston, West Virginia 25305
304-558-5000 Toll Free: 800-422-7498

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