Introduction
Purpose
The University seeks to maximize the return on investment for equipment no longer useful to the University but eligible for trade-in on new equipment in compliance with the State Surplus Property Agency General Provisions policy per NC Administrative Code 01 NCAC 43A .0303.
Scope of Applicability
This policy applies to all Faculty and Staff at University of North Carolina at Chapel Hill.
Policy
Policy Statement
Trading in used property for credit against the purchase of a new item may provide a greater financial return to the State than selling such items through the Surplus Property System.
Exceptions
No trade-ins can be done under the small order policy.
Additional Information
Frequently Asked Questions
Q: I want to trade in a chair for credit on a new chair for my office. Is this possible?
A: Trade-ins are not allowed on small order policy transactions.
Q: My department has a piano it would like to trade in for a harp. Is this possible?
A: If the trade of dissimilar items will provide more value to the State than selling the item through Surplus Property, it is possible. See the Trade-In Allowances procedure for guidance.
Q: Does it take long to process a trade-in allowance through Purchasing Services?
A: Additional approval paperwork must be filed with the State Surplus Property Agency, adding 3 - 5 business days to the transaction.
Related Requirements
External Regulations and Consequences
University Policies, Standards, and Procedures
Contact Information
Policy Contact
Subject |
Contact |
Telephone |
Fax |
E-Mail |
Purchasing |
Purchasing - Goods |
919-962-3774 |
919-962-0636 |
purchasing_team@unc.edu |
History
Revised:
- July 28, 2010
- June 9, 2005