1236.1 - University of North Carolina at Chapel Hill Procedure on Documenting Trade-In Allowances

Introduction

Scope of Applicability

This procedure applies to all University Faculty and Staff.

Procedure

Equipment trade-ins require documentation and approval from the State Surplus Property Agency.

Forms and Instructions

Submit a requisition including the description of the item to be traded in, as follows:

Make and model, serial number, UNC decal number, original acquisition date, original cost, and original purchase order number, if available. If the item to be traded in is not a replacement or like item, the department must attach a signed justification letter stating the reasons the department believes that a trade-in would result in greater financial return to the State than a sale through Surplus.

The appropriate purchasing procedure for a trade-in is based upon the acquisition value of the new equipment (without the trade-in credit). If the acquisition value requires obtaining competitive quotes/bids, Purchasing Services will seek quotes/bids both with and without the application of the trade-in allowance.

Purchasing will submit the request for trade-in to the State Surplus Property Agency for approval.

Exceptions

None

Related Requirements

External Regulations and Consequences

None

University Policies, Standards, and Procedures

Contact Information

Primary Contact
Subject Contact Telephone Fax E-Mail
Purchasing Purchasing - Goods 919-962-3774 919-962-0636 purchasing_team@unc.edu

History

Revised:

  • October 1, 2014: Revised naming of requisition.
  • July 28, 2010
  • June 9, 2005
100% helpful - 1 review

Details

Article ID: 131432
Created
Thu 4/8/21 9:08 PM
Modified
Mon 8/9/21 4:15 PM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
12/09/2020 3:15 PM
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Director of Purchasing Services
Last Review
Date on which the most recent document review was completed.
12/09/2020 3:15 PM
Last Revised
Date on which the most recent changes to this document were approved.
12/09/2020 3:15 PM
Next Review
Date on which the next document review is due.
12/09/2021 12:00 AM
Origination
Date on which the original version of this document was first made official.
03/01/1998 12:00 AM
Responsible Unit
School, Department, or other organizational unit issuing this document.
Finance and Budget