Performance Contracting can provide an opportunity for organizations to fund much-needed projects. It can also be an opportunity for well-financed corporations to receive excessive compensation from unprepared decision-makers.
Titus Energy knows how to properly construct a performance contracting RFP to maximize value for organizations. We'll evaluate your options and protections using our technical, financial and regulatory expertise. Don't let your vendor design your RFP process for you! Each state has its own rules. In Wisconsin for instance, the performance contract laws are fairly lax. While this can provide flexibility for the purchasers, it also allows vendors to be fairly creative. While Wisconsin has additional procurement requirements for state-owned facilities, the smaller, local jurisdictions are left to protect themselves against aggressive and well-financed vendors. We provide the necessary protection for these organizations through careful scrutiny of each project before, during and after construction. As an example, Titus Energy recently provided a review of performance based contracts for two large public institutions in Wisconsin. Both of these investigations revealed billings exceeding market value by $10 to $15 million (20 to 30%). We found that these contracts did not meet statutory procurement requirements and our work eventually led to an internal investigation of the procurement process. The end result was that the organizations paid millions more of taxpayer dollars than they should have paid. Be safe. Call us before you start down the performance contract path. |
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