This Definitive Contract contract for Logistics > Professional Services was awarded in FY2024 on May 22, 2024 to SPEVCO INCORPORATED by Tactical Aviation and Ground Munitions (TAGM). There have been $181.8k in obligations to date with a ceiling value of $1.4M, showing a 13% burn rate so far on the contract. The contract was not competed under any preference program with 1 offer received. We expect a 5 year duration with ultimate completion date of May 21, 2029.
SPEVCO INCORPORATED is a contractor located in NC, doing primarily Logistics > Professional Services work for Army. The company receives $79.9k annually in federal awards (as of FY2020). Also, they have shown success winning No/Limited Bias contracts concentrated mainly on a singular customer focused portfolio.
Definitive contracts are single award contracts which usually result from publicly advertised Federal procurements. Historically, definitive contracts represented the most common pathway for the Federal Government to enter into agreements with contractors operating in the Federal market. With few exceptions, definitive contracts all the Federal Government purchase nearly every type of commodity, technology, or service. A known quantity or deliverable is a critical attribute of definitive contracts.
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