CFTC awards $2.5M for security services to Bradley Technologies Inc. amid limited competition

Contract Overview

Contract Amount: $2,487,760 ($2.5M)

Contractor: Bradley Technologies Inc

Awarding Agency: Commodity Futures Trading Commission

Start Date: 2020-04-01

End Date: 2025-03-31

Contract Duration: 1,825 days

Daily Burn Rate: $1.4K/day

Competition Type: NOT AVAILABLE FOR COMPETITION

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: CFTC SECURITY GUARD SERVICES

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20581

State: District of Columbia Government Spending

Plain-Language Summary

Commodity Futures Trading Commission obligated $2.5 million to BRADLEY TECHNOLOGIES INC for work described as: CFTC SECURITY GUARD SERVICES Key points: 1. Value for money assessed against market rates for security guard services. 2. Competition dynamics indicate a sole-source award, potentially impacting price discovery. 3. Risk indicators include reliance on a single vendor for critical security functions. 4. Performance context is a multi-year contract for essential security operations. 5. Sector positioning within security services, a mature and competitive market.

Value Assessment

Rating: fair

The contract value of $2.5 million over five years for security guard services appears within a reasonable range for the scope of work. However, without specific details on the number of guards, hours, and specific security requirements, a precise value-for-money assessment is challenging. Benchmarking against similar federal contracts for security services in the Washington D.C. area would provide a clearer picture of whether the pricing is competitive, especially given the limited competition.

Cost Per Unit: N/A

Competition Analysis

Competition Level: sole-source

This contract was awarded on a sole-source basis, meaning it was not openly competed. This approach is typically used when only one responsible source is available or authorized by statute. The lack of competition means that the Commodity Futures Trading Commission (CFTC) did not benefit from the price discovery mechanisms that typically occur in a competitive bidding process.

Taxpayer Impact: Taxpayers may not have received the most cost-effective solution due to the absence of competitive pressure to drive down prices.

Public Impact

The Commodity Futures Trading Commission (CFTC) benefits from continuous security coverage. Essential security guard services are delivered to protect federal facilities and personnel. The geographic impact is concentrated in the District of Columbia. The contract supports jobs within the security services industry.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Sole-source award limits competitive pricing benefits for taxpayers.
Potential for vendor lock-in due to lack of competition.
Reliance on a single provider for critical security functions could pose a risk if performance issues arise.

Positive Signals

Contract provides consistent security coverage for a federal agency.
Long-term contract (5 years) offers stability for both the agency and the contractor.
Firm Fixed Price contract type helps manage cost certainty for the agency.

Sector Analysis

The security guard services sector is a well-established industry with numerous providers. Federal agencies are significant consumers of these services, contracting for physical security at facilities nationwide. The market is characterized by varying levels of specialization, from basic guarding to more advanced security solutions. Benchmarking this contract against others in the security services industry, particularly those for government facilities in the D.C. metropolitan area, would be necessary for a comprehensive value assessment.

Small Business Impact

This contract was not awarded as a small business set-aside, and there is no indication of subcontracting requirements for small businesses. Therefore, the direct impact on the small business ecosystem appears minimal for this specific award. Future analysis could explore whether Bradley Technologies Inc. itself is a small business or if there are opportunities for small businesses to participate in subcontracting roles.

Oversight & Accountability

Oversight for this contract would typically fall under the Commodity Futures Trading Commission's contracting and procurement office. Accountability measures are inherent in the contract terms, including performance standards and payment schedules. Transparency is generally maintained through federal contract databases, though specific performance metrics and detailed pricing breakdowns may not be publicly available. Inspector General jurisdiction would apply if any fraud, waste, or abuse were suspected.

Related Government Programs

Federal Protective Service Contracts
Physical Security Services
Government Facility Security

Risk Flags

Sole-source award may limit cost-effectiveness.
Lack of competition could impact service innovation.
Dependence on a single vendor for critical security.

Frequently Asked Questions

What is this federal contract paying for?

Commodity Futures Trading Commission awarded $2.5 million to BRADLEY TECHNOLOGIES INC. CFTC SECURITY GUARD SERVICES

Who is the contractor on this award?

The obligated recipient is BRADLEY TECHNOLOGIES INC.

Which agency awarded this contract?

Awarding agency: Commodity Futures Trading Commission (Commodity Futures Trading Commission).

What is the total obligated amount?

The obligated amount is $2.5 million.

What is the period of performance?

Start: 2020-04-01. End: 2025-03-31.

What is the track record of Bradley Technologies Inc. in performing similar federal security contracts?

Information regarding Bradley Technologies Inc.'s specific track record on federal security contracts is not detailed in the provided data. A comprehensive review would involve examining past performance evaluations, contract history with federal agencies, and any reported issues or commendations. Without this historical data, it is difficult to assess their reliability and past success in delivering comparable services. Further research into federal procurement databases and contractor performance systems would be necessary to establish a baseline of their experience and capabilities.

How does the pricing of this contract compare to market rates for similar security guard services in the Washington D.C. area?

The provided data does not include specific pricing details beyond the total contract value and type (Firm Fixed Price). To compare this contract's pricing to market rates, one would need to analyze the number of hours, guard levels (e.g., armed vs. unarmed, experience), and specific duties performed. Benchmarking against publicly available data for security guard services in the D.C. metropolitan area, considering factors like prevailing wages and industry standards, would be essential. Given the sole-source nature, it is plausible that the pricing may not reflect the most competitive market rates achievable through open competition.

What are the primary risks associated with awarding this security contract on a sole-source basis?

The primary risk associated with a sole-source award for security services is the potential for inflated costs due to the lack of competitive pressure. Without multiple bidders vying for the contract, the awarded vendor may not have an incentive to offer the lowest possible price. Additionally, there's a risk of reduced innovation and service quality, as the agency has fewer alternatives to incentivize performance improvements. Dependence on a single provider also creates a vulnerability; if Bradley Technologies Inc. experiences performance issues or financial instability, the CFTC could face significant disruptions to its security operations with limited immediate recourse.

What specific security services are being provided under this contract?

The North American Industry Classification System (NAICS) code 561612 indicates that the contract is for 'Security Guards and Patrol Services.' This typically encompasses a range of services such as uniformed security guards for access control, patrolling premises, monitoring surveillance equipment, and responding to security incidents. However, the precise scope of services, including the number of guards, hours of operation, specific post orders, and any specialized security requirements (e.g., armed guards, background checks), are not detailed in the provided summary data. These specifics would be crucial for a thorough understanding of the contract's operational context.

What is the historical spending pattern for security guard services at the Commodity Futures Trading Commission?

The provided data only details a single contract award from April 1, 2020, to March 31, 2025, totaling approximately $2.5 million. To understand historical spending patterns, data from previous years and potentially other contracts for similar services would be required. Analyzing past expenditures would reveal trends in spending levels, the number and types of contracts awarded, and whether there has been a consistent reliance on sole-source procurements or a history of competitive bidding for these services. Without this broader historical context, it's impossible to discern specific spending patterns.

Are there any performance metrics or key performance indicators (KPIs) associated with this contract?

The provided data does not specify the performance metrics or Key Performance Indicators (KPIs) for this contract. Typically, federal contracts include clauses outlining expected performance standards, service level agreements, and methods for evaluating the contractor's adherence to these requirements. These KPIs are crucial for ensuring the effectiveness of the security services and for holding the contractor accountable. The absence of this information in the summary suggests that further review of the full contract documentation would be necessary to ascertain the specific performance expectations and evaluation criteria.

Industry Classification

NAICS: Administrative and Support and Waste Management and Remediation Services › Investigation and Security Services › Security Guards and Patrol Services

Product/Service Code: UTILITIES AND HOUSEKEEPING › HOUSEKEEPING SERVICES

Competition & Pricing

Extent Competed: NOT AVAILABLE FOR COMPETITION

Solicitation Procedures: ONLY ONE SOURCE

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 1700 ROCKVILLE PIKE STE 200, ROCKVILLE, MD, 20852

Business Categories: 8(a) Program Participant, Black American Owned Business, Category Business, Corporate Entity Not Tax Exempt, DoT Certified Disadvantaged Business Enterprise, Economically Disadvantaged Women Owned Small Business, Minority Owned Business, Small Business, Special Designations, U.S.-Owned Business, Woman Owned Business, Women Owned Small Business

Financial Breakdown

Contract Ceiling: $2,487,760

Exercised Options: $2,487,760

Current Obligation: $2,487,760

Actual Outlays: $1,956,642

Contract Characteristics

Commercial Item: PRODUCTS OR SERVICES PURSUANT TO FAR 12.102(F)

Cost or Pricing Data: NO

Timeline