This is a notice of intent to issue a sole-source follow-on award for asset protection and recovery services in Brazil. The services include asset searches, site visits, negotiations, litigation, documentation of agreements, embargoing assets, and executing upon assets. This award is a follow-on to a previous contract for the same recovery case. The rationale for the sole-source award is the combination of contingency payment agreements, the long length of recovery processes, limited vendor availability, and the need to ensure fairness to the original vendor. The contracting officer has determined that the anticipated cost to the government will be fair and reasonable based on prior experience, comparison to similar firms, and review of published rates. Market research confirmed the commercial nature of the services and that Varella Advogados Associados is uniquely positioned to provide these services due to their specialized knowledge of Exim Bank's activities and legal experience in Brazil. Exim Bank has been satisfied with Varella Advogados Associados' services since 2003. There are no plans at this time to compete future contracts for these services.
The bid notice states that this is a sole-source award, implying that the award criterion is based on the unique qualifications of the selected contractor. The rationale for this is the combination of contingency payment agreement and the frequent long length of the recovery process, with limited vendor availability. The bid notice states: The rationale for this is the combination of contingency payment agreement and the frequent long length of the recovery process. With limited vendor availability, if we did not follow this practice, the original vendor could perform most of the work and the subsequent vendor would reap the rewards of any funds recovered.
The bid notice states that the contractor must have specialized knowledge to minimize risks and maximize chances of success in executing rights under finance documents, and a need for confidentiality. Specifically, the local counsel in Brazil must have experience in locating assets, especially potential hidden assets, and embargoing and executing upon such assets; drafting and negotiating restructuring agreements; and litigating collection matters in all levels of courts throughout the debtors country. They must also have experience handling collection matters on behalf of foreign entities, especially foreign government entities, and be familiar with Exim Bank's policies and procedures, handling of funds, facilitation of payments, and fraud. The firm Varella Advogados Associados is described as uniquely qualified due to seasoned recovery expertise, commercial legal expertise, and a full understanding of Exim Bank's activities, collection processes, rules, and regulations. The bid notice states: it is imperative to hire local counsel in brazil where the claim is to be litigated with experience in: locating assets, especially potential hidden assets,, and embargoing and executing upon such assets drafting and negotiating restructuring agreements appropriate for debtors of the type in this matter and litigating the collection matter in all levels of courts throughout the debtors country.
The bid notice mentions site visits as part of the services to be provided. The bid notice states: These efforts will include, as Exim may direct, asset searches, site visits, negotiations, litigation, documentation of agreements, embargoing assets and executing upon assets.
