Legal Services for Treasury

The Department of the Treasury Departmental Offices established a Master IDIQ for legal services on August 6, 2010, with a final ordering date of August 5, 2020—now closed for five years and eleven months. This vehicle is no longer active and pursuing new work under it is not viable.

Over its decade of operation, the Master IDIQ generated 29 task orders totaling $59.8 million in combined potential value, with $19.3 million obligated (32 percent). All task orders were unrestricted (no set-asides). Ordering activity peaked in 2011 with 14 orders, declined to 7 in 2012, dropped to 2 in 2013, and ceased by 2015, with the most recent award issued January 27, 2015. The vehicle supported Treasury's management of crisis-era lending and investment programs under the Emergency Economic Stabilization Act of 2008, including the Capital Purchase Program, Community Development Capital Initiative, Small Business Lending Fund, Automotive Industry Financing Program, Housing Finance Agency Innovation Fund, Making Home Affordable, and Public-Private Investment Program.

The prime contractor base was concentrated among large firms. Cadwalader Wickersham & Taft LLP held 6 orders worth $11.3 million combined potential value; Hughes Hubbard & Reed LLP held 6 orders worth $1.7 million; and Paul, Weiss, Rifkind, Wharton & Garrison LLP held 6 orders worth $9.1 million. Love and Long, L.L.P. anchored the highest single value order at $20.6 million for Small Business Lending Fund closings work. Fox, Swibel, Levin & Carroll, LLP held 2 orders totaling $16.2 million combined potential value. A single customer agency—Treasury Departmental Offices—funded all 29 orders.

Task orders ranged from closure work (valued as low as $190 and $960) to major transaction-support assignments exceeding $16 million potential value. Pricing structures mixed Time and Materials, Labor Hours, and Firm Fixed Price approaches. Work was concentrated in litigation and transactional legal support tied to legacy TARP-era portfolio dispositions and program wind-downs, with most task orders closing by 2019.

Legal Services for Department of the Treasury