OSU PaCS 302-13: Trade-In

Purpose

To provide all OSU staff with information on trading in old equipment.

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Applicability

All employees.

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Background

Trading in equipment refers to exchanging an older piece of equipment for a reduction in cost on a new asset.

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Policy

All trades require prior approval from Property Management and must be fully documented in FIS Banner.  Property Management will check with Surplus Property to determine if it would be more cost effective to sell the item through Surplus or trade the item in.

Items acquired by trade are capitalized at their full value, not the amount after it was reduced by a trade-in allowance.

Departments are permitted to trade all or part of an asset to reduce the cost of a new asset. 

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Procedure

1. Contact Property Management via phone (541-737-7350) or email to request approval for the proposed trade.
2. Submit to Procurement and Contract Services (PaCS):

1. A Departmental Requisition and vendor quote of the item to be obtained.  
2. A Property Disposition Request (PDR) form containing the following:

• The asset(s) to be traded.
• Note under ‘resale price’ the credit that is to be received from the vendor for the traded asset(s).
• A description of the item to be received for the traded item.

Note: If multiple assets are being traded there must be a specific amount for each asset – not a lump sum for all.

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Cross Reference

For a detailed guide from start to finish of the trade-in process, see the following policies in the Property Management Manual:

PRO 209: Equipment Acquisition - Trade.

PRO 803:  Equipment Disposal – Trade-In of Equipment.

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