This Purchase Order contract for Legal services was awarded in FY2014 on June 02, 2014 to LabCorp by Justice. There have been $7.9k in obligations to date with a ceiling value of $9.3k, showing a 85% burn rate so far on the contract. The contract was not competed under any preference program with 1 offer received. We expect a 1 year duration with ultimate completion date of January 31, 2015.
LabCorp is a contractor located in NC, doing primarily Healthcare > Medical Practitioners work for Veterans Affairs. The company receives $132.3M annually in federal awards (as of FY2020). Also, they have shown success winning IDC 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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