The Export-Import Bank of the United States (EXIM) seeks approval for a non-competitive contract with IA Group BV to provide legal recovery services for outstanding debts in Italy. This purchase order is justified under FAR regulations due to the unique qualifications of IA Group BV, which specializes in asset recovery and has prior experience with EXIM. The contractor's tasks will include asset searches, negotiations, and potential litigation. The firm’s knowledge of local legal processes is critical for successful debt collection, mitigating risks associated with international claims.
The estimated five-year contract, valued at several million dollars, aims for efficient recovery efforts to minimize taxpayer disadvantages, given the complexities of cross-border debt collection. Despite seeking potential sources, no other interested firms met the required criteria, reinforcing the decision not to pursue competitive bids. The document details a thorough justification for the sole-source acquisition, emphasizing the contractor's capability, experience, and understanding of EXIM's operational needs. EXIM also expresses no current intentions to open future contracts for these services unless new competent sources arise.
The Export-Import Bank of the United States (EXIM Bank) is seeking a contractor for loan recovery assistance related to paid claims under its credit guarantee and insurance programs. The scope of work includes collecting defaulted loans, facilitating borrower negotiations, and potentially initiating legal proceedings in Italy. Specifically, the contractor will provide comprehensive collection services including asset search, credit analysis, and reporting on recovery efforts. A written recovery plan and estimated collectable amounts must be submitted within 60 days of contract execution.
The goals of this initiative are to recover outstanding debts from debtors and guarantors efficiently. Successful recovery efforts will necessitate familiarity with the Italian judicial system and engagement of duly qualified legal representation if litigation is needed. Performance evaluations will be conducted semi-annually, focusing on the effectiveness and professionalism of the services provided.
EXIM Bank aims for a substantial recovery of financial assets, reinforcing its mandate to support U.S. goods and services financing by effectively managing and recouping losses related to credit risks it assumes. This request exemplifies the bank's commitment to utilizing external resources for optimizing recovery processes while adhering to regulatory frameworks.