Pol-Purchase of Pre-Owned and Reconditioned Equipment and Products
policy purchase pre-owned reconditioned equipment products used modified Mon Oct 17 2022 14:21:20 GMT-0400 (Eastern Daylight Time)
University of Louisville
Purchase of Pre-Owned and Reconditioned Equipment and Products
PUR – 35.00
This policy applies to University Administrators, Faculty, and Staff.
REASON FOR POLICY
Pre-owned, reconditioned, and demonstrator-type equipment and products may sometimes meet the needs of the University when available at current and fair market prices. Value analysis may also determine that "factory-seconds" products can meet this criterion.
The University may elect to purchase this type equipment or product provided a written determination is filed outlining the following:
- The purchase is fully justified.
- It is of proven value to the University.
- Bona fide statements of the condition of the materials accompany the letter.
- Independent appraisals of all equipment and/or other materials attesting to current market values accompany the request. Complete data and descriptions, model numbers, serial numbers, brand names, and accessories must also be included.
Procurement Services shall review such requests, and if they are determined to be in the best interest of the University, with purchase costs(s) reasonable, may issue the authority for purchases under established policies and procedures.
Vice President for Finance and Chief Financial Officer
RESPONSIBLE UNIVERSITY DEPARTMENT/DIVISION
Sally Molsberger, Director – Procurement Services
Service Complex, University of Louisville
Louisville, KY 40292
Original Date: Unknown
Reviewed Date(s): February 14, 2020
The University Policy and Procedure Library is updated regularly. In order to ensure a printed copy of this document is current, please access it online at http://louisville.edu/policies.