Contract Information

Summary

Agency Name: DEPARTMENT OF FINANCIAL SERVICES	Agency Contract ID: 20-OIR-MC
Long Title: I0778 Madison Consulting Group	Vendor Name: MADISON CONSULTING GROUP, INC.
Total Contract Amount: $34,999.00	Total Budgetary Amount: $34,999.00
Total Payment To Date: $27,787.50	Date of Execution: 03/02/2021
General Description: The services of the Contractor as an expert witness in actuarial science is now required to complete the rule-making process and allow the Office to maintain compliance with Florida Statutes.

Details
Deliverables
Payments
Documents
Audits

Main Information

Agency Contract ID: 20-OIR-MC

FLAIR Contract ID: I0778

Short Title: I0778 MC

Long Title: I0778 Madison Consulting Group

Contract Type: Standard Two Party Agreement by Statute

Contract Status: Closed or Expired

Date of Execution: 03/02/2021

Date of Beginning: 03/02/2021

Original End Date: 03/01/2022

New Ending Date:

Agency Service Area: COS

Statutory Authority: FS 624-316 & Rule 690-138.005, FAC

Contract Involves State or Federal Financial Assistance: No

Recipient Type:

Provide for Administrative Cost: No

Provide for Periodic Increase: No

Procurement Information

Authorized Advanced Payment: No

Method of Procurement: Informally quoted purchase not exceeding Category Two [Rule 60A-1.002(3), F.A.C. & s. 287.017(2)]

State Term Contract ID:

Contract’s Exemption Justification:

Agency Reference Number:

Business Case Study Done: No

Legal Challenges to Procurement: No

Outsourcing / Capital Improvements

Was the Contracted Function Previously Performed by the State: No

Was the Contracted Function Considered for Insourcing back to the State: No

Did the Vendor Make Capital Improvements on State Property: No

Budget Information

Original Contract Amount: $34,999.00

Total Contract Amount: $34,999.00

Total Recurring Budgetary Amount: $0.00

Total Non-Recurring Budgetary Amount: $34,999.00

Total Budgetary Amount: $34,999.00

Total Unfunded Amount: $0.00

As of Date: 3/3/2021

Download Budget Information

No Recurring Budgetary records found for this contract.

Non-Recurring Budgetary Amount	Account Code	Fiscal Year Effective Date	FY	Cost Accumulator	Agency Amendment Reference
$34,999.00	43-10-2-393001-43900110-00-100777-00	03/03/2021	2020-2021

Contract Change

No Contract Changes found for the contract.

Vendor

Download Vendor

Name Line 1	Name Line 2	City State Zip	Minority Vendor Designation
MADISON CONSULTING GROUP, INC.		MADISON GA 306500000	Non-Minority

CFDA

No CFDA Codes found for the contract.

CSFA

No CSFA Codes found for the contract.

Expand All Deliverables Download Deliverables

Deliverable Number

Commodity/Service Type

Major Deliverable

Method of Payment

Legal services

Major Deliverable: a. The Contractor will perform the following tasks, duties, and responsibilities ...

Fixed Fee / Unit Rate

Major Deliverable: Major Deliverable: a. The Contractor will perform the following tasks, duties, and responsibilities necessary to complete work assigned by the Office's Project and Contract Manager in conformity with the attached timeline. b. Based on the Contractor's recent actuarial report that completed a comprehensive review of title insurance rates in the State of Florida, the Contractor will provide actuarial consultation and act as an expert witness for the Office in all matters relating to title insurance rates, rate sufficiency and in support of the Contractor's prior report. Such consultation shall include providing testimony on such matters at any public hearing or tribunal. The Contractor will continue to work with Office personnel to provide actuarial analysis of the data and further develop rate and other recommendations regarding title insurance regulation in Florida. All services shall be compensated at $300.00 per hour for Senior Consultants, $150.00 per hour for Technical Staff Assistants and $75.00 (per hour for Secretarial/Clerical work.

Deliverable Price: $34,999.00

Non Price Justification:

Performance Metrics: The Contractor warrants that: (1) the services will be performed by qualified personnel; (2) the services will be of the kind and quality described in Attachment 2, Statement of Work; (3) the services will be performed in a professional and workmanlike manner in accordance with industry standards and practices; (4) the services will not and do not infringe upon the intellectual property rights, or any other proprietary rights, of any third party; and (5) any person or entity, whether an agent or independent contractor, that performs work on the Contract for the Contractor (Contractor Representative) will comply with any security requirements and processes as provided by the Office, or provided by the Office's customer, for work done at the Office or other locations. The Office reserves the right to investigate or inspect at any time whether the services or qualifications offered by the Contractor meet the Contract requirements. Notwithstanding any provisions to the contrary, written acceptance of a particular deliverable/minimum requirement does not foreclose the Office's remedies in the event those performance standards that cannot be readily measured at the time of delivery are not met.

Financial Consequences: In addition to the specific, financial consequences explained in Attachment 2, Statement of Work, the state of Florida (State) reserves the right to withhold payment when the Contractor has failed to perform or comply with the provisions of this Contract. These consequences for nonperformance are not to be considered penalties.

Source Documentation Page Reference:

Deliverable Number:

Displaying 1 to 1 of 1

Payments are also referred to as expenditures (creating or incurring a legal obligation to disburse money) or disbursements (the payment of expenditures). Payments include disbursements and accounting adjustments made on a contract. Payments are always positive amounts while accounting adjustments may be positive or negative depending on the type of adjustment.

Payment Details

Expand All Payments Download Payments

"Date" in the listing below indicates the date the payment voucher was recorded in the system, not the date the payment was issued.

Fiscal Year

Total Amount

2021-2022

$27,787.50

If a payment or adjustment to a contract was made before July 1, 2012, the information may not be posted in this system.

Contract Documents

Click on the pdf icon or Agency Document Link to view the document

Document Type	Document Reference #	Executed Date	Document Add Date	Agency Document Link	View
Original Contract	Original Contract - I0778	03/02/2021	3/3/2021 11:06:00 AM

Audit results posted prior to June 30, 2012, appear in a summarized form. As of July 1, 2012, the audit reporting process was expanded to include additional questions and comments from the Bureau of Auditing. As audits are captured in electronic format, they will be posted to this system. If you are interested in seeing audit reports by Fiscal Year and Agency Action Plans, please click here to navigate to the Transparency Florida Contract Audit page.

No audits have been conducted on this contract at this time.

TestCancel

BACK TO TOP

Your session is about to expire due to inactivity in:

seconds.

Florida Department of Financial Services: F.A.C.T.S