To provide direction to University departments regarding the trade-in of University funded equipment for new items through strategic alliances.
Powers and duties of the University President, ABOR Policy 3-801 and 3-802
The authority below applies ONLY to Federal Property (acquisition dollars or title):
Strategic Alliance Contracts – Ricoh and XEROX – As the University’s contracted vendors, in addition to offering the departments discounted pricing and a dedicated support team, Ricoh and XEROX are generally able to tender better allowances through trade-ins than the proceeds the departments can obtain via auction sales hosted by Surplus Property. As a way of practice, the departments are allowed to contact Ricoh or XEROX directly for photocopier and printer trade-ins.
- Determine the titleholder and source(s) of funding for the equipment item(s) proposed for trade-in.
- If the item is titled in a sponsor, or if the item is University titled, acquired on government funds, and has a trade- in value of $5,000 or more, follow the instructions in Property Management Policy 18.10.
- If the item is University titled, acquired on University funds, follow the standard University purchasing procedure by creating a Requisition to order the new item or items.
- Contact Ricoh or XEROX directly to negotiate the trade-in terms.
- Identify the items being traded, the UA property tag number (or indicate that a tag does not exist) and the value being received for the trade. The transaction will not be processed without a value being indicated for the item being traded.
- Prepare a Request for Authorization to Dispose of Property (RADP) form, note the REQ number at the top, and send to Purchasing as an attachment.
- Review the Purchase Requisition and the RADP and approve, or resolve any differences with the department, return form for completion, or request further justification.
- If approved, sign and forward to Ricoh or XEROX for processing.
- When the traded-in equipment is shipped or picked up by the vendor, obtain a receipt and notify FSO-Property Management to delete the item from the Capital Asset Module (CAM).
- Upon receipt of notification that the traded-in equipment has been delivered to the vendor, remove it from the Capital Asset Module (CAM).