Procurement Contracts and Agreements
The Department of the Treasury (Treasury) obtains supplies and services from private institutions to implement the Emergency Economic Stabilization Act of 2008 (EESA). Financial institutions, law firms, accounting firms, consulting firms, and other entities support Treasury’s response to the nation’s financial crisis through implementation of TARP programs. These entities are selected and retained through procurement contracts or Financial Agency Agreements. In an effort to increase transparency and accountability, Treasury publishes procurement contracts and Financial Agency Agreements (FAAs) online with privacy and corporate proprietary information redacted pursuant to the Freedom of Information Act. Click here to view a complete listing of procurement contracts and agreements
Procurement Contracts
Procurement involves the acquisition of supplies or services by contract with appropriated funds from
non-federal sources by and for the use of the Federal Government. Treasury obtains supplies and
services through contracts issued pursuant to the Federal Acquisition Regulation (FAR) and the Department
of the Treasury Acquisition Regulation supplement.
Financial Agency Agreements
The National Bank Acts of 1863 and 1864 grant Treasury the authority to retain
financial agents to provide services on its behalf. Financial agents act on behalf of the Government
during the performance of their duties under an agent-principal relationship with Treasury.
Financial agents have the fiduciary obligation to protect the interests of the United States.
Financial Agency Agreements (FAA) entered into by Treasury do not constitute procurement contracts under the
purview of Federal Acquisition Regulations. The Secretary of the Treasury has designated
financial institutions to support the implementation of the EESA, including banks, savings
associations, credit unions, security brokers or dealers, insurance companies, and other entities to
serve as Treasury's financial agents.
Competition
The Competition in Contracting Act (CICA) of 1984 requires executive agencies to obtain full and open competition unless a specific exception applies, such as when the agency's need for supplies or services is of such an unusual and compelling urgency that the Government would be seriously injured unless the agency can limit the number of sources from which it solicits bids or proposals. Treasury awarded a number of contracts under the unusual and compelling standard in response to the exigencies of the national financial crisis. These contracts involved limited competitions among several competing offerors to obtain the best value for taxpayer dollars. Treasury is holding full and open competitions to continue to meet its contract needs, as the economy emerges from the crisis. Procurement opportunities are posted to the Federal Business opportunities website at: www.fedbizopps.gov. Companies interested in doing business with the Treasury in support of the TARP may submit capability statements to the Department's Office of Contract Administration at TARPContracts@do.treas.gov.
Small Business Utilization
Treasury actively encourages the participation of small, minority, veteran, and women-owned businesses in fulfilling its needs. Treasury’s Office of Small and Disadvantaged Business Utilization works closely with TARP and the Small Business Administration to optimize such participation. Where subcontracting opportunities exist for a given work requirement Treasury requires contractors to submit small business subcontracting plans with specific goals for small, minority, veteran, and women-owned business subcontracts. Contact Treasury's Office of Small and Disadvantaged Business Utilization at TreasuryOSDBU@do.treas.gov for information on how small businesses may participate in Treasury contracts and agreements.
