19GG8020D0002 - REQUIREMENTS CONTRACT HEALTH INSURANCE FOR US EMB...

This IDC contract for Financial services was awarded in FY2020 on Feb 18, 2020 to TBC INSURANCE, JSC by Bureau of European and Eurasian Affairs. There have been $3.7M in obligations to date with a ceiling value of $3.7M, showing a 100% burn rate so far on the contract. The contract was not competed under any preference program with 5 offers received. We expect a 5 year duration with ultimate completion date of Mar 30, 2025.

TBC INSURANCE, JSC is a contractor doing primarily Financial services work for State. The company receives $252.8k annually in federal awards (as of FY2020). Also, they have shown success winning IDC contracts concentrated mainly on a singular customer focused portfolio.

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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Buying Agency/Office

State»Political Affairs»Bureau of European and Eurasian Affairs

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