This IDC contract for Passenger Travel was awarded in FY2019 on December 19, 2018 to KOREA RAILROAD CORPORATION by 19th Expeditionary Sustainment Command. There have been $4.6M in obligations to date with a ceiling value of $5.5M, showing a 84% burn rate so far on the contract. The contract was not competed under any preference program with 1 offer received. We expect a 5 year duration with ultimate completion date of December 26, 2023.
KOREA RAILROAD CORPORATION is a contractor located in SEOUL, doing primarily Passenger Travel work for Army. The company receives $40.3k annually in federal awards (as of FY2020). Also, they have shown success winning IDC contracts concentrated mainly on a singular customer focused portfolio.
The Federal Government competes and awards an Indefinite Delivery Contract (IDC) to support requirements where the quantity and time of delivery are unknown. Typically referred to as Indefinite Delivery-Indefinite Quantity (IDIQ) contracts, the Government has the option of awarding a single or multiple award IDIQ. Once awarded, an IDIQ acts as a master agreement between the Federal Government and one or more contractors. On an as-needed basis, Federal buying organizations place orders, commonly referred to as Task Orders against an IDIQ, to purchase goods or services available through the IDIQ.
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|Task Order No.||Contractor||Obligations||Effective Date|
|W91QVN22F0131||KOREA RAILROAD CORPORATION SEOUL BRANCH||$2.3M||12/21/2021|
|W91QVN23F0097||KOREA RAILROAD CORPORATION SEOUL BRANCH||$2.3M||12/27/2022|