This contract provides for a one base year and 4 option periods of one year each, providing for five year POP provided all option periods are exercised to provide nationwide lender-placed insurance.…
Ended Definitive Contract Awarded Last action
- Contract number
- 12C0BA21C0001
- Awardee
-
Proctor Financial Inc. UEI GYV1AZ75LNM1
- Awarding agency
-
Washington Office
Rural Housing Service, Department of Agriculture
- Obligated
- $1,235,640
Award facts
- Opportunity
-
- Lender Placed Insurance Services Solicitation · 12C0BA20R0006 · Posted Aug 24, 2020
- Contract value 100% obligated
- $1,235,640.00 Current and potential, with all options
- Completion date 100% complete
- Current and potential, with all options
- Contracting staff
- NAICS code
- 524210 Insurance Agencies and Brokerages
- Set-aside
- No set-aside
- Competition
- Competed under SAP · 1 offer Simplified Acquisition
- Pricing
- Firm Fixed Price
- Place of performance
- Troy, MI 48098, USA
- Legislative mandates
-
- Service Contract Inventory FAR subpart 4.17
Award details come from SAM.gov/FPDS.
Transactions
| Action | Obligated | Date |
|---|---|---|
| Supplemental Agreement for work within scope | $57,456 | |
| Funding Only Action | -$17,124 | |
| Supplemental Agreement for work within scope | $246,000 | |
| Supplemental Agreement for work within scope | $0 | |
| Supplemental Agreement for work within scope | $64,000 | |
| Funding Only Action | $121,500 | |
| Exercise an Option | $64,500 | |
| Supplemental Agreement for work within scope | $36,160 | |
| Supplemental Agreement for work within scope | $186,000 | |
| Exercise an Option | $0 | |
| Other Administrative Action | $0 | |
| Other Administrative Action | $0 | |
| Funding Only Action | $60,000 | |
| Exercise an Option | $186,000 | |
| Supplemental Agreement for work within scope | $45,148 | |
| Original award | $186,000 |
Show all 16
About this award
The U.S. Department of Agriculture's Rural Housing Service awarded a five-year lender-placed insurance contract to Proctor Financial Inc. on December 30, 2020, with a ceiling value of $1.24 million. The definitive firm fixed-price contract (12C0BA21C0001) includes one base year and four optional one-year extensions and is being performed in Troy, Michigan. This is a non-set-aside award to the incumbent contractor, which will provide nationwide lender-placed insurance services across all 50 states, Puerto Rico, and the Virgin Islands through March 29, 2026.
Under this contract, Proctor Financial Inc. is responsible for placing hazard, flood, wind, and mobile home insurance on properties in which the agency has a financial interest. The contractor's scope includes conducting property inspections, processing claims and mailings, tracking losses, and maintaining an integrated information system to manage insurance policies and claims for over 700 properties. The incumbent contractor will continue operations that have historically managed losses exceeding $4.8 million over 12-month periods.
Description
This contract provides for a one base year and 4 option periods of one year each, providing for five year POP provided all option periods are exercised to provide nationwide lender-placed insurance. Contract 12C0BA21C0001
Quick answers
Who was awarded contract 12C0BA21C0001?
12C0BA21C0001 was awarded to Proctor Financial Inc. by Washington Office (Rural Housing Service) on December 30, 2020.
How much is contract 12C0BA21C0001 worth?
The government has obligated $1,235,640 on 12C0BA21C0001.
Was contract 12C0BA21C0001 competed?
The extent of competition for 12C0BA21C0001 was competed under sap. The government received 1 offer.
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