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Policies and Procedures

Policy 1236 – Trade-In Allowances

Effective
March 1, 1998
Last Updated
July 28, 2010
Responsible University Officer
Director of Purchasing Services
Responsible Unit
Purchasing Services

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.

Reason for Policy

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 section 01 NCAC 43A .0303.

Exclusions

No trade-ins can be done under the small-order policy.

Special Situations

None.

Procedures

  • 1236.1 – Documenting Trade-In Allowances

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 Office, adding 3 - 5 business days to the transaction.

Related Data

602.2 – Trading In Equipment
State Surplus Property Agency General Provisions policy per section 01 NCAC 43A .0303

Contacts

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