This contract has an initial term ending on September 30, 2007, and includes extension options for up to two years. The total value of the contract, which will be determined by the actual number of transactions processed, is estimated at $6.9 million for the three-year term.
Tier began providing Tennessee with child support payment processing services in 1999. From October 1999 through December 2003, over 11.5 million child support payments were processed, totaling more than $1.4 billion in payments to Tennessee's custodial parents.
Under the new contract, Tier will provide enhancements to its existing services including a Web-based child support payment option.