This Definitive Contract contract for Aerospace & Defense > Research and Development was awarded in FY2024 on January 08, 2024 to HYPERION TECHNOLOGY GROUP, INC. by Marine Corps Systems Command (MARCORSYSCOM). There have been $75k in obligations to date with a ceiling value of $174.7k, showing a 43% burn rate so far on the contract. The contract was competed under Small Business Set-Aside -- Total preference program with 73 offers received. We expect a 1 year duration with ultimate completion date of March 09, 2025.
HYPERION TECHNOLOGY GROUP, INC. is a contractor located in MS, doing primarily Science/Engineering > Research and Development work for Army. The company receives $3.4M 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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