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Policies and Procedures

Procedure 1236.1 – Documenting Trade-In Allowances

Effective
March 1, 1998
Last Updated
October 1, 2014
Last Reviewed
October 1, 2014
Responsible University Officer
Director of Purchasing Services
Responsible Unit
Purchasing Services

Procedure Statement

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

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 Office for approval.

Related Data

602.2- Trading in Equipment

History

Revised:
October 1, 2014: Revised naming of requisition.
July 28, 2010
June 9, 2005