41 C.F.R. § 102-39.20 What definitions apply to this part?
Title 41 - Public Contracts and Property Management
The following definitions apply to this part: Acquire means to procure or otherwise obtain personal property, including by lease. Combat material means arms, ammunition, and implements of war listed in the U.S. munitions list (22 CFR part 121). Exchange means to replace personal property by trade or trade-in with the supplier of the replacement property. Exchange/sale means to exchange or sell non-excess, non-surplus personal property and apply the exchange allowance or proceeds of sale in whole or in part payment for the acquisition of similar property. Executive agency means any executive department or independent establishment in the executive branch of the Government, including any wholly owned Government corporation. Federal agency means any executive agency or any establishment in the legislative or judicial branch of the Government (except the Senate, the House of Representatives, and the Architect of the Capitol and any activities under his/her direction). Historic item means property having added value for display purposes because its historical significance is greater than its fair market value for continued use. Items that are commonly available and remain in use for their intended purpose, such as military aircraft still in use by active or reserve units, are not historic items. Replacement means the process of acquiring property to be used in place of property that is still needed but: (1) No longer adequately performs the tasks for which it is used; or (2) Does not meet the agency's need as well as the property to be acquired. Similar means where the acquired item and replaced item: (1) Are identical; (2) Are designed and constructed for the same purpose; (3) Constitute parts or containers for identical or similar end items; or (4) Fall within a single Federal Supply Classification (FSC) group of property that is eligible for handling under the exchange/sale authority.
Title 41: Public Contracts and Property Management
PART 102–39—REPLACEMENT OF PERSONAL PROPERTY PURSUANT TO THE EXCHANGE/SALE AUTHORITY
Subpart A—General
§ 102-39.20 What definitions apply to this part?
