Pol-Purchase of Pre-Owned and Reconditioned Equipment and Products

policy purchase pre-owned reconditioned equipment products used modified Fri May 01 2020 13:38:03 GMT-0400 (Eastern Daylight Time)

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University of Louisville

OFFICIAL
UNIVERSITY
ADMINISTRATIVE
POLICY

POLICY NAME

Purchase of Pre-Owned and Reconditioned Equipment and Products

EFFECTIVE DATE

POLICY NUMBER

PUR – 35.00

POLICY APPLICABILITY

This policy applies to University Administrators, Faculty, and Staff.

POLICY STATEMENT

The University may elect to purchase this type equipment or product provided a written determination is filed outlining the following:

  1. The purchase is fully justified.
  2. It is of proven value to the University.
  3. Bona fide statements of the condition of the materials accompany the letter.
  4. 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.
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.

RELATED INFORMATION

Items are still subjected to formal bidding.

RESPONSIBILITIES

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.

ADMINISTRATIVE AUTHORITY

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
502-852-8224
purchase@louisville.edu 

HISTORY

Original Date: Unknown
Revision Date(s):
Reviewed Date(s): 2/14/2020

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.