Treasury's Fiscal Service awards $12M contract for Private Collection Agency services to Coast Professional, Inc
Contract Overview
Contract Amount: $12,000,000 ($12.0M)
Contractor: Coast Professional, Inc.
Awarding Agency: Department of the Treasury
Start Date: 2026-01-05
End Date: 2027-01-04
Contract Duration: 364 days
Daily Burn Rate: $33.0K/day
Competition Type: FULL AND OPEN COMPETITION
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: PRIVATE COLLECTION AGENCY (PCA) SERVICES
Place of Performance
Location: GENESEO, LIVINGSTON County, NEW YORK, 14454
State: New York Government Spending
Plain-Language Summary
Department of the Treasury obligated $12.0 million to COAST PROFESSIONAL, INC. for work described as: PRIVATE COLLECTION AGENCY (PCA) SERVICES Key points: 1. The contract value is $12 million over one year. 2. Coast Professional, Inc. is the awardee. 3. The contract was awarded under full and open competition. 4. The service is categorized under Collection Agencies (NAICS 561440).
Value Assessment
Rating: good
The contract is a firm fixed price award for collection agency services. Benchmarking against similar contracts is difficult without specific performance metrics, but the price appears reasonable for a one-year duration and the scope of services.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded through full and open competition, suggesting a robust price discovery process. This method typically leads to competitive pricing as multiple vendors can bid.
Taxpayer Impact: The use of competitive bidding aims to ensure taxpayer funds are used efficiently for debt collection services.
Public Impact
Ensures efficient collection of delinquent government debts. Supports Treasury's revenue generation and fiscal responsibility. Provides services that may impact individuals or businesses with outstanding government obligations.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Contract duration is only one year, potentially limiting long-term efficiency gains.
- No specific performance metrics or KPIs are detailed in the provided data.
Positive Signals
- Awarded via full and open competition.
- Firm fixed price contract structure.
Sector Analysis
The collection agency sector involves specialized services for recovering outstanding debts. Spending in this sector can fluctuate based on government debt levels and collection strategies. This contract aligns with typical government needs for efficient debt recovery.
Small Business Impact
The provided data does not indicate if small businesses were involved in the competition or subcontracting. Further analysis would be needed to determine small business participation.
Oversight & Accountability
The contract falls under the Bureau of the Fiscal Service, which is responsible for managing federal debt collection. Oversight would involve monitoring Coast Professional, Inc.'s performance against contract terms and ensuring compliance.
Related Government Programs
- Collection Agencies
- Department of the Treasury Contracting
- Bureau of the Fiscal Service Programs
Risk Flags
- Limited contract duration (1 year).
- Lack of specific performance metrics in provided data.
- Potential for vendor performance issues impacting debt recovery.
- No indication of small business participation.
Tags
collection-agencies, department-of-the-treasury, ny, bpa-call, 10m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of the Treasury awarded $12.0 million to COAST PROFESSIONAL, INC.. PRIVATE COLLECTION AGENCY (PCA) SERVICES
Who is the contractor on this award?
The obligated recipient is COAST PROFESSIONAL, 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 $12.0 million.
What is the period of performance?
Start: 2026-01-05. End: 2027-01-04.
What is the expected recovery rate or efficiency metric for this contract?
The provided data does not specify expected recovery rates or efficiency metrics. Typically, such contracts would include performance standards and key performance indicators (KPIs) to measure the effectiveness of the collection agency. Without these, assessing the true value and efficiency is challenging.
What is the risk of non-performance or inadequate collection by the awarded vendor?
The risk of non-performance exists with any contract. However, awarding through full and open competition and using a firm fixed price contract mitigates some risk. The government can monitor performance and potentially terminate the contract if standards are not met, though the one-year duration limits long-term impact.
How does this contract's pricing compare to industry benchmarks for similar services?
Without detailed service level agreements and performance data, a precise comparison is difficult. However, the firm fixed price for a one-year duration suggests a budgeted cost for services. The benchmark of $12 million should be evaluated against the volume and age of debts to be collected.
Industry Classification
NAICS: Administrative and Support and Waste Management and Remediation Services › Business Support Services › Collection Agencies
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Solicitation ID: 2033H626Q00036
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 4273 VOLUNTEER RD, GENESEO, NY, 14454
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, Subchapter S Corporation, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $12,000,000
Exercised Options: $12,000,000
Current Obligation: $12,000,000
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Parent Contract
Parent Award PIID: 2033H625A00008
IDV Type: BPA
Timeline
Start Date: 2026-01-05
Current End Date: 2027-01-04
Potential End Date: 2027-01-04 00:00:00
Last Modified: 2025-12-19
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