Policies and Procedures
Policy 1236 – Trade-In Allowances
March 1, 1998
July 28, 2010
Director of Purchasing Services
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.
No trade-ins can be done under the small-order policy.
- 1236.1 – Documenting Trade-In Allowances
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.
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July 28, 2010
June 9, 2005