This Purchase Order contract for Hardware & Tools was awarded in FY2017 on April 26, 2017 to RAPID RIVET & FASTENER CORPORA by Industrial Hardware Directorate. There have been $0.1k in obligations to date with a ceiling value of $0.1k, showing a 100% burn rate so far on the contract. The contract was not competed under any preference program with 2 offers received.
RAPID RIVET & FASTENER CORPORA is a contractor located in NY, doing primarily Hardware & Tools work for Defense. The company receives $1.8M 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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