This Purchase Order contract for Industrial Products & Machinery > Industrial Products & Services was awarded in FY2011 on November 10, 2010 to NEW SOURCE CORPORATION by Fleet Readiness Center Southeast - Jacksonville. There have been $2.6k in obligations to date with a ceiling value of $2.6k, showing a 100% 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 28, 2011.
NEW SOURCE CORPORATION is a contractor located in FL, doing primarily Industrial Products & Machinery > Industrial Products & Services work for Defense. The company receives $59.6k 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.
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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