This Purchase Order contract for Petro-Chemical Industries > Equipment Related Services was awarded in FY2020 on April 17, 2020 to Miscellaneous Foreign Contractors by Bureau of Western Hemisphere Affairs. There have been $29k in obligations to date with a ceiling value of $29k, showing a 100% burn rate so far on the contract. The contract was not competed under any preference program with 3 offers received. We expect a 1 year duration with ultimate completion date of April 30, 2021.
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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