This IDC contract for Financial services was awarded in FY2022 on October 15, 2021 to Miscellaneous Foreign Contractors by Bureau of Western Hemisphere Affairs. There have been no obligations to date with a ceiling value of $70k, showing a 0% burn rate so far on the contract. The contract was not competed under any preference program with 999 offers received.
The Federal Government competes and awards an Indefinite Delivery Contract (IDC) to support requirements where the quantity and time of delivery are unknown. Typically referred to as Indefinite Delivery-Indefinite Quantity (IDIQ) contracts, the Government has the option of awarding a single or multiple award IDIQ. Once awarded, an IDIQ acts as a master agreement between the Federal Government and one or more contractors. On an as-needed basis, Federal buying organizations place orders, commonly referred to as Task Orders against an IDIQ, to purchase goods or services available through the IDIQ.
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