This Definitive Contract contract for Industrial Products & Machinery > Industrial Products & Services was awarded in FY2006 on June 30, 2006 to Raytheon Technologies by Acquisitions and Grants Office. There have been $94.3k in obligations to date with a ceiling value of $134k, showing a 70% burn rate so far on the contract. The contract was competed under Small Business Set-Aside -- Total preference program with 1 offer received. We expect a 3 year duration with ultimate completion date of June 29, 2009.
Raytheon Technologies is a contractor located in MA, doing primarily Aerospace & Defense > Weapons & Ammunition work for Navy. The company receives $28.5B 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.
Definitive contracts are single award contracts which usually result from publicly advertised Federal procurements. Historically, definitive contracts represented the most common pathway for the Federal Government to enter into agreements with contractors operating in the Federal market. With few exceptions, definitive contracts all the Federal Government purchase nearly every type of commodity, technology, or service. A known quantity or deliverable is a critical attribute of definitive contracts.
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