Treasury's Fiscal Service awards $3.35M contract for logistics support to F-Concepts, Inc
Contract Overview
Contract Amount: $3,352,966 ($3.4M)
Contractor: F-Concepts, Inc.
Awarding Agency: Department of the Treasury
Start Date: 2023-03-08
End Date: 2026-06-07
Contract Duration: 1,187 days
Daily Burn Rate: $2.8K/day
Competition Type: NOT AVAILABLE FOR COMPETITION
Number of Offers Received: 1
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: FACILITIES/WAREHOUSE/LOGISTICS SUPPORT FOR THE BUREAU OF THE FISCAL SERVICE IN MD AND DC.
Place of Performance
Location: PARKERSBURG, WOOD County, WEST VIRGINIA, 26101
Plain-Language Summary
Department of the Treasury obligated $3.4 million to F-CONCEPTS, INC. for work described as: FACILITIES/WAREHOUSE/LOGISTICS SUPPORT FOR THE BUREAU OF THE FISCAL SERVICE IN MD AND DC. Key points: 1. The contract is for facilities, warehouse, and logistics support in Maryland and DC. 2. F-Concepts, Inc. is the sole awardee, with no competition indicated. 3. The contract type is Firm Fixed Price, suggesting predictable costs. 4. The award value is $3,352,966.08 over a period of 1187 days.
Value Assessment
Rating: questionable
Pricing is not readily available for comparison against similar contracts. The lack of competition makes it difficult to assess if the price is competitive.
Cost Per Unit: N/A
Competition Analysis
Competition Level: sole-source
This contract was awarded sole-source, meaning there was no competition. This limits price discovery and potentially leads to higher costs for taxpayers.
Taxpayer Impact: The absence of competition for this logistics support contract raises concerns about potential overspending of taxpayer funds.
Public Impact
Taxpayers may be paying more than necessary due to the lack of competitive bidding. The Fiscal Service relies on F-Concepts, Inc. for essential logistics operations. The contract duration extends to June 2026, impacting long-term budget planning.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Sole-source award
- Lack of competition
- No pricing benchmark available
Positive Signals
- Firm Fixed Price contract type
- Long-term support secured
Sector Analysis
This contract falls under general administrative and support services, specifically logistics and facilities management. Benchmarks for this sector can vary widely based on scope and location.
Small Business Impact
The awardee, F-Concepts, Inc., is not identified as a small business in the provided data. Further investigation would be needed to confirm.
Oversight & Accountability
The sole-source nature of this award warrants scrutiny to ensure fair pricing and necessity. Oversight should focus on performance and justification for continued sole-source awards.
Related Government Programs
- Local Messengers and Local Delivery
- Department of the Treasury Contracting
- Bureau of the Fiscal Service Programs
Risk Flags
- Sole-source award lacks competition.
- No readily available pricing benchmarks.
- Potential for inflated costs due to lack of competition.
- Limited transparency on justification for sole-source.
- Small business participation not evident.
Tags
local-messengers-and-local-delivery, department-of-the-treasury, wv, definitive-contract, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of the Treasury awarded $3.4 million to F-CONCEPTS, INC.. FACILITIES/WAREHOUSE/LOGISTICS SUPPORT FOR THE BUREAU OF THE FISCAL SERVICE IN MD AND DC.
Who is the contractor on this award?
The obligated recipient is F-CONCEPTS, INC..
Which agency awarded this contract?
Awarding agency: Department of the Treasury (Bureau of the Fiscal Service).
What is the total obligated amount?
The obligated amount is $3.4 million.
What is the period of performance?
Start: 2023-03-08. End: 2026-06-07.
What is the justification for the sole-source award, and was a full and open competition truly not feasible?
The justification for a sole-source award is crucial for ensuring taxpayer value. Agencies must demonstrate that a full and open competition was not feasible due to specific, documented reasons, such as unique capabilities or urgent needs. Without this justification, the award raises concerns about potential circumvention of competitive processes and suboptimal pricing.
How does the pricing of this contract compare to industry benchmarks for similar logistics and warehouse support services?
Without access to detailed pricing breakdowns or comparable contract data, it is challenging to establish a precise benchmark. However, the absence of competition inherently limits the ability to validate if the pricing is competitive. A thorough review of the contract's cost elements against industry standards would be necessary to assess value for money.
What are the key performance indicators (KPIs) for this contract, and how is F-Concepts, Inc.'s performance being monitored?
Effective oversight requires clearly defined KPIs to measure the performance of F-Concepts, Inc. in providing facilities, warehouse, and logistics support. Regular monitoring and reporting on these KPIs are essential to ensure the Fiscal Service receives the contracted services efficiently and effectively, justifying the expenditure.
Industry Classification
NAICS: Transportation and Warehousing › Local Messengers and Local Delivery › Local Messengers and Local Delivery
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › ADMINISTRATIVE SUPPORT SERVICES
Competition & Pricing
Extent Competed: NOT AVAILABLE FOR COMPETITION
Solicitation Procedures: ONLY ONE SOURCE
Solicitation ID: RFQ FSA-30300100-23-034
Offers Received: 1
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 8421 FALCONE POINTE WAY, VIENNA, VA, 22182
Business Categories: 8(a) Program Participant, Asian Pacific American Owned Business, Category Business, Corporate Entity Not Tax Exempt, DoT Certified Disadvantaged Business Enterprise, Economically Disadvantaged Women Owned Small Business, Minority Owned Business, Self-Certified Small Disadvantaged Business, Small Business, Special Designations, Subchapter S Corporation, U.S.-Owned Business, Woman Owned Business, Women Owned Small Business
Financial Breakdown
Contract Ceiling: $3,352,966
Exercised Options: $3,352,966
Current Obligation: $3,352,966
Actual Outlays: $2,908,732
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Cost or Pricing Data: NO
Timeline
Start Date: 2023-03-08
Current End Date: 2026-06-07
Potential End Date: 2026-06-07 00:00:00
Last Modified: 2026-03-03
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