This Purchase Order contract for Aerospace & Defense > Sustainment S&E was awarded in FY2018 on September 19, 2018 to HANDY TOOL & MFG CO INC by Aviation - Supplier Operations. There have been $40k in obligations to date with a ceiling value of $68k, showing a 59% burn rate so far on the contract. The contract was not competed under any preference program with 2 offers received. We expect a 4 year duration with ultimate completion date of November 02, 2022.
HANDY TOOL & MFG CO INC is a contractor located in NY, doing primarily Aerospace & Defense > Sustainment S&E work for Defense. The company receives $8.9M 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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