This Definitive Contract contract for International Affairs was awarded in FY2005 on May 26, 2005 to TAISEI CORPORATION by NAVFAC Far East. There have been $12.3M in obligations to date with a ceiling value of $12.3M, showing a 100% burn rate so far on the contract. The contract was not competed under any preference program with 6 offers received. We expect a 1 year duration with ultimate completion date of September 14, 2006.
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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