FHFA awards $13.05M to Duane Morris LLP for legal services over 3 years

Contract Overview

Contract Amount: $13,055,000 ($13.1M)

Contractor: Duane Morris LLP

Awarding Agency: Federal Housing Finance Agency

Start Date: 2007-09-18

End Date: 2010-09-30

Contract Duration: 1,108 days

Daily Burn Rate: $11.8K/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 8

Pricing Type: TIME AND MATERIALS

Sector: Other

Official Description: LEGAL SERVICES

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20552

State: District of Columbia Government Spending

Plain-Language Summary

Federal Housing Finance Agency obligated $13.1 million to DUANE MORRIS LLP for work described as: LEGAL SERVICES Key points: 1. Contract awarded via full and open competition, suggesting market availability. 2. Time and Materials contract type may pose cost control challenges. 3. The contract duration of over 3 years warrants close monitoring. 4. Legal services sector is essential for agency operations and compliance.

Value Assessment

Rating: fair

The contract value of $13.05M over 3 years for legal services appears reasonable given the nature of the work. Benchmarking against similar large-scale legal support contracts would provide a more precise assessment.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded under full and open competition, indicating that multiple vendors had the opportunity to bid. This method generally promotes competitive pricing and ensures the government receives fair market value.

Taxpayer Impact: The competitive award process aims to ensure taxpayer funds are used efficiently for necessary legal services.

Public Impact

Ensures the Federal Housing Finance Agency has access to legal expertise. Supports the agency's mission in housing finance regulation and oversight. Potential for significant impact on housing market stability through legal counsel.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Time and Materials contract type
Long contract duration

Positive Signals

Full and open competition
Awarded to established firm

Sector Analysis

Legal services are critical for government agencies to navigate complex regulations, manage litigation, and ensure compliance. Spending in this sector can vary significantly based on agency size and mission complexity.

Small Business Impact

The data does not indicate if small businesses were involved in this contract, either as prime contractors or subcontractors. Further analysis would be needed to assess small business participation.

Oversight & Accountability

The contract's duration and value suggest a need for robust oversight to ensure performance standards are met and costs remain within expectations.

Related Government Programs

Offices of Lawyers
Federal Housing Finance Agency Contracting
Federal Housing Finance Agency Programs

Risk Flags

Potential for cost overruns due to Time and Materials contract type.
Long contract duration may not reflect evolving needs.
Lack of specific detail on services rendered.
No indication of small business participation.

Frequently Asked Questions

What is this federal contract paying for?

Federal Housing Finance Agency awarded $13.1 million to DUANE MORRIS LLP. LEGAL SERVICES

Who is the contractor on this award?

The obligated recipient is DUANE MORRIS LLP.

Which agency awarded this contract?

Awarding agency: Federal Housing Finance Agency (Federal Housing Finance Agency).

What is the total obligated amount?

The obligated amount is $13.1 million.

What is the period of performance?

Start: 2007-09-18. End: 2010-09-30.

What specific legal services were provided under this contract?

The contract was for general legal services. Without further details, it's difficult to specify the exact nature of the services, which could range from regulatory advice and contract review to litigation support and policy development. Understanding the scope is crucial for assessing value.

How did the agency ensure cost control with a Time and Materials contract?

Agencies typically implement cost controls for Time and Materials contracts through mechanisms like labor hour limitations, fixed-price task orders for specific deliverables, and rigorous monitoring of hours billed. Regular performance reviews and audits are also essential to prevent cost overruns and ensure efficiency.

What was the competitive landscape for these legal services?

The award under 'full and open competition' implies that multiple qualified law firms were eligible to bid. The specific number of bids received and the relative strengths of each proposal would provide a clearer picture of the competitive intensity and the agency's selection rationale.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Legal Services › Offices of Lawyers

Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › PROFESSIONAL SERVICES

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE

Offers Received: 8

Pricing Type: TIME AND MATERIALS (Y)

Evaluated Preference: NONE

Contractor Details

Address: ONE LIBERTY PLACE STE 4200, PHILADELPHIA, PA, 90

Business Categories: Category Business, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $13,055,000

Exercised Options: $13,055,000

Current Obligation: $13,055,000

Timeline