Replacement contract to 1231ME18D0008 (IAS issues) - this is an indefinite delivery indefinite quantity (IDIQ) fixed price contract award for escrow funds and investment services. Period of…
Ended Indefinite Delivery Contract Awarded Last action
- Contract number
- 12C0BA22D0003
- Awardee
-
Bank Of America, N.A UEI L9JEKRMMKN65 Part of Bank Of America Corporation
- Awarding agency
-
Washington Office
Rural Housing Service, Department of Agriculture
- Task orders
- 0
Award facts
- Opportunity
-
- 1231ME18R0005 Solicitation number
- Last date to order 100% complete
- IDV ceiling
- $500,000.00
- Award type
- Single award
- Who can order
- Only the awarding agency
- Contracting staff
- Funding agency
- Customer Service Center Washington Office, Department of Agriculture
- NAICS code
- 523920 Portfolio Management
- PSC
- R711 Support- Management: Banking
- Set-aside
- No set-aside
- Competition
- Not Competed under SAP · 1 offer Simplified Acquisition
- Pricing
- Firm Fixed Price
Award details come from SAM.gov/FPDS.
About this IDV
This single-award, indefinite delivery indefinite quantity fixed price contract was awarded by the Department of Agriculture Rural Housing Service Customer Service Center in St. Louis on October 27, 2021. With a potential value of $500,000, it provides for escrow funds and investment services over one base year and four option periods through May 2024.
The purpose of this contract is to replace an existing agreement for similar escrow and investment management services. As an IDIQ vehicle, specific requirements will be defined through subsequent task orders. Based on the description, it appears the Rural Housing Service utilizes escrow accounts and investment of funds to support various housing and community development programs. By awarding an IDIQ contract for these specialized financial services, the agency can efficiently order discrete projects and flexibly accommodate changing program needs over the five-year period of performance.
Bank of America Corporation was selected as the prime contractor to deliver the escrow and investment services. As a large financial institution with a dedicated federal government division, Bank of America likely possesses the expertise and capacity required to properly handle public funds. No set-asides were specified, suggesting the requirement did not lend itself to participation goals.
Description
Replacement contract to 1231ME18D0008 (IAS issues) - this is an indefinite delivery indefinite quantity (IDIQ) fixed price contract award for escrow funds and investment services. Period of performance is 1 base year, and 4 option periods. Period of
Transactions
| Action | Obligated | Date |
|---|---|---|
| Exercise an Option | $0 | |
| Exercise an Option | $0 | |
| Exercise an Option | $0 | |
| Original award | $0 |
Quick answers
Who was awarded contract 12C0BA22D0003?
12C0BA22D0003 was awarded to Bank Of America, N.A by Washington Office (Rural Housing Service) on October 27, 2021.
How much is contract 12C0BA22D0003 worth?
12C0BA22D0003's own ceiling is $500,000.
Which agency awarded contract 12C0BA22D0003?
Washington Office (Rural Housing Service) awarded 12C0BA22D0003, with funding from Customer Service Center (Washington Office).
Who can order from contract 12C0BA22D0003?
12C0BA22D0003 is a single award indefinite delivery contract. Only the awarding agency can place orders on it.
Was contract 12C0BA22D0003 competed?
The extent of competition for 12C0BA22D0003 was not competed under sap. The government received 1 offer.
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