This Purchase Order contract for Kitchen Equipment, Materials and Services was awarded in FY2023 on Sep 29, 2023 to Price Modern LLC by Baltimore District. There have been $188.7k in obligations to date with a ceiling value of $188.7k, showing a 100% burn rate so far on the contract. The contract was competed under Small Business Set-Aside -- Total preference program with 2 offers received. We expect a 1 year duration with ultimate completion date of Sep 28, 2024.
Price Modern LLC is a contractor located in MD, doing primarily Furniture work for Homeland Security (DHS). The company receives $28.9M 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.
Purchase orders offer the Federal Government an avenue to streamline smaller purchases. Compared to the typical procurement process, where a requirement moves through several milestones before award, purchase orders allow for a quick turnaround to fulfill commodity and service needs. The total value of a transaction is the primary prerequisite for the use of purchase orders. In more familiar terms, purchase orders resemble a trip to a local retail store to buy a few items.
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