41 C.F.R. Subpart C—Exchange/Sale Methods and Reports
Title 41 - Public Contracts and Property Management
Exchange of property may be accomplished by either of the following methods: (a) The supplier (e.g., a Government agency, commercial or private organization, or an individual) delivers the replacement property to one of your organizational units and removes the property being replaced from that same organizational unit. (b) The supplier delivers the replacement property to one of your organizational units and removes the property being replaced from a different organizational unit. (a) You must use the methods, terms, and conditions of sale, and the forms prescribed in part 102–38 of this title, in the sale of property being replaced, except for the provisions of §§102–38.100 through 102–38.115 of this title regarding negotiated sales. Section 3709, Revised Statutes (41 U.S.C. 5), specifies the following conditions under which property being replaced can be sold by negotiation, subject to obtaining such competition as is feasible: (1) The reasonable value involved in the contract does not exceed $500; or (2) Otherwise authorized by law. (b) You may sell property being replaced by negotiation at fixed prices in accordance with the provisions of §102–38.120 and 102–38.125 of this title. [66 FR 48614, Sept. 21, 2001, as amended at 69 FR 11539, Mar. 11, 2004] You must account for sales proceeds in accordance with the general finance and accounting rules applicable to you. Except as otherwise directed by law, all proceeds from the sale of personal property under this part will be available during the fiscal year in which the property was sold and for one fiscal year thereafter for obligation for the purchase of replacement property. Any sales proceeds not applied to replacement purchases during this time must be deposited in the United States Treasury as miscellaneous receipts. (a) You must submit, within 90 calendar days after the close of each fiscal year, a summary report in a format of your choice on the exchange/sale transactions made under this part during the fiscal year (except for transactions involving books and periodicals in your libraries). The report must include: (1) A list by Federal Supply Classification Group of property sold under this part showing the: (i) Number of items sold; (ii) Acquisition cost; and (iii) Net proceeds. (2) A list by Federal Supply Classification Group of property exchanged under this part showing the: (i) Number of items exchanged; (ii) Acquisition cost; and (iii) Exchange allowance. (b) Submit your report electronically or by mail to the General Services Administration, Office of Travel, Transportation and Asset Management (MT), 1800 F Street, NW., Washington, DC 20405. (c) Report control number: 1528–GSA-AN. (d) If you make no transactions under this part during a fiscal year, you must submit a report stating that no transactions occurred. [66 FR 48614, Sept. 21, 2001, as amended at 71 FR 20900, Apr. 24, 2006]
Title 41: Public Contracts and Property Management
PART 102–39—REPLACEMENT OF PERSONAL PROPERTY PURSUANT TO THE EXCHANGE/SALE AUTHORITY
Subpart C—Exchange/Sale Methods and Reports
§ 102-39.60 What are the exchange methods?
§ 102-39.65 What are the sales methods?
§ 102-39.70 What are the accounting requirements for the proceeds of sale?
§ 102-39.75 What information am I required to report?
