803: Trade-In of Equipment

Property Management Policy & Procedure Manual
Section 800: Equipment Disposal
Effective: 07/01/1996
Revised: 09/10/2007

Purpose

To define a procedure for the trade-in of university capital equipment.

Departments are permitted to trade-in state owned property upon obtaining approval from Property Management.

Trade-in values that are substantially less than the market value of the equipment are prohibited.

Responsible Party	Action
Department	Contact Property Management (541-737-7350) to obtain approval to trade-in state owned property.
Property Management	Review asset records and determines if item is eligible for trade-in. If eligible, grant verbal authorization to department. If not eligible, department is not granted authorization for disposal of equipment via trade-in.
Department	Complete a Property Disposition Request (PDR) form available at the Inventory Control website. Submit PDR with Purchasing Requisition (see PRO 209: Acquisition-Trade) and quote form the vendor.
Property Management	Remove traded asset from inventory as new asset is being added to inventory.

See PRO 209: Acquisition-Trade.