03310323D0068 - ::XX::IGG

This IDC contract for IT Outsourcing, Kitchen Equipment, Materials and Services, Education/Training > Research and Development, Business Admin Services, Public Relations and Professional Communications Services, Records Management > Professional Services, IT Hardware, Printed/Published Media was awarded in FY2023 on Aug 7, 2023 to Bloomberg Inc. by Library of Congress. There have been $4M in obligations to date with a ceiling value of $50M, showing a 8% burn rate so far on the contract. The contract was not competed under any preference program with 50 offers received. We expect a 5 year duration with ultimate completion date of Aug 30, 2028.

Bloomberg Inc. is a contractor located in VA, doing primarily IT Software work for Treasury. The company receives $24.5M 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.

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.

Read the full report

Buying Agency/Office

Congress»Library of Congress

Read the full report