SEC Awards $11.8M IT Cabling & AV Contract to Vision Technologies, LLC

Contract Overview

Contract Amount: $11,845,113 ($11.8M)

Contractor: Vision Technologies, LLC

Awarding Agency: Securities and Exchange Commission

Start Date: 2018-09-05

End Date: 2026-01-18

Contract Duration: 2,692 days

Daily Burn Rate: $4.4K/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 1

Pricing Type: TIME AND MATERIALS

Sector: IT

Official Description: COMPREHENSIVE IT CABLING AND AUDIO-VISUAL SOLUTION

Place of Performance

Location: NEW YORK, NEW YORK County, NEW YORK, 10001

State: New York Government Spending

Plain-Language Summary

Securities and Exchange Commission obligated $11.8 million to VISION TECHNOLOGIES, LLC for work described as: COMPREHENSIVE IT CABLING AND AUDIO-VISUAL SOLUTION Key points: 1. Contract value of $11.8M for comprehensive IT cabling and audio-visual solutions. 2. Awarded under full and open competition, indicating a competitive bidding process. 3. Potential risk associated with Time and Materials pricing structure. 4. Sector is Wired Telecommunications Carriers, a critical infrastructure area.

Value Assessment

Rating: fair

The contract's Time and Materials (T&M) pricing structure can lead to cost overruns if not closely managed. Benchmarking against similar T&M contracts for IT cabling and AV services is crucial to assess value.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded under full and open competition, suggesting a robust price discovery process. However, the T&M pricing model may still allow for costs to escalate beyond initial expectations.

Taxpayer Impact: Taxpayers may face increased costs due to the T&M pricing structure, which lacks a fixed ceiling and relies on hourly rates and material costs.

Public Impact

Ensures critical IT infrastructure and communication systems for the SEC. Supports the SEC's operational efficiency through modern audio-visual capabilities. Potential for cost overruns impacts taxpayer funds allocated for government operations.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Time and Materials pricing
Long contract duration (2018-2026)

Positive Signals

Full and open competition
Essential IT and AV services

Sector Analysis

This contract falls within the Wired Telecommunications Carriers sector, which is vital for government operations. Spending benchmarks for similar IT cabling and AV projects vary widely based on scope and complexity.

Small Business Impact

The contract was awarded under full and open competition, and there is no specific indication of small business participation or set-asides in the provided data. Further analysis would be needed to determine if small businesses were involved as subcontractors.

Oversight & Accountability

The long duration of the contract (2018-2026) necessitates ongoing oversight to ensure performance standards are met and costs remain within reasonable bounds, especially given the T&M pricing.

Related Government Programs

Wired Telecommunications Carriers
Securities and Exchange Commission Contracting
Securities and Exchange Commission Programs

Risk Flags

Time and Materials pricing model
Long contract duration
Lack of specific cost ceiling
Potential for cost overruns

Frequently Asked Questions

What is this federal contract paying for?

Securities and Exchange Commission awarded $11.8 million to VISION TECHNOLOGIES, LLC. COMPREHENSIVE IT CABLING AND AUDIO-VISUAL SOLUTION

Who is the contractor on this award?

The obligated recipient is VISION TECHNOLOGIES, LLC.

Which agency awarded this contract?

Awarding agency: Securities and Exchange Commission (Securities and Exchange Commission).

What is the total obligated amount?

The obligated amount is $11.8 million.

What is the period of performance?

Start: 2018-09-05. End: 2026-01-18.

What is the estimated total cost if the contract runs to its full duration?

The provided data shows an obligated amount of $11.8M with an estimated completion date in 2026. Without specific hourly rates, material cost markups, or projected labor hours, it's impossible to accurately estimate the total cost. The Time and Materials structure means the final cost is highly variable and dependent on actual usage and rates.

What are the risks associated with the Time and Materials pricing model for this contract?

The primary risk of a Time and Materials (T&M) contract is the potential for cost escalation. Unlike fixed-price contracts, T&M agreements do not have a defined ceiling, meaning the government pays for the actual labor hours and materials used. This can lead to unexpected cost overruns if not meticulously monitored and managed by the contracting officer.

How does the 'Wired Telecommunications Carriers' NAICS code impact the assessment of this contract?

The NAICS code 517110, Wired Telecommunications Carriers, indicates the contract is for services related to the infrastructure of telecommunications networks. This suggests the work involves physical cabling and potentially related equipment for data and voice transmission, crucial for the SEC's internal operations and connectivity.

Industry Classification

NAICS: Information › Wired and Wireless Telecommunications (except Satellite) › Wired Telecommunications Carriers

Product/Service Code: FIBER OPTIC

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY

Solicitation ID: 50310218Q0044

Offers Received: 1

Pricing Type: TIME AND MATERIALS (Y)

Evaluated Preference: NONE

Contractor Details

Address: 530 MCCORMICK DR STE G, GLEN BURNIE, MD, 21061

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Service Disabled Veteran Owned Business, Small Business, Special Designations, Subchapter S Corporation, U.S.-Owned Business, Veteran Owned Business

Financial Breakdown

Contract Ceiling: $11,845,113

Exercised Options: $11,845,113

Current Obligation: $11,845,113

Actual Outlays: $10,615,076

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES PROCEDURES NOT USED

Cost or Pricing Data: NO

Parent Contract

Parent Award PIID: GS00Q12NSD0011

IDV Type: IDC

Timeline