Equipment Trade-In Process

Written by Bill Carlson.

Utilizing the university’s equipment trade-in process is the best way to ensure a department receives the highest value for used equipment. Let’s demystify the process. 

Equipment Trade-In Process

When a department is ready to replace a piece of equipment that has reached the end of its useful life, it may consult with a supplier who can provide a trade-in value for that item. The department must obtain a written supplier quote for the new equipment. The quote must contain the trade-in equipment name, description, serial number and the trade-in dollar amount.

Here is the step-by-step process for how to get the best value for trade-in equipment while adhering to the university’s regulation for the disposal of university property.

1. Discuss the new equipment with one or multiple suppliers.
2. Obtain a written supplier quote for the new equipment.
3. Complete a Trade-in Request Form.
4. Enter a requisition for the replacement item(s):
   1. Attach the vendor quote and completed trade-in-request form to requisition.
   2. Route the requisition for approval.
5. The Procurement Specialist will forward a request to the State Surplus Property Office. This step is omitted for IT equipment.  

For non-IT equipment:  

1. The Surplus Property Office must obtain approval for the trade-in.
2. The procurement specialist will complete a Purchase Order.
3. The department will retire the equipment with an asset disposal request form.

For IT equipment, the Procurement Specialist will:

1. Complete the Purchase Order.
2. Send instructions to retire the equipment with an asset disposal request form.

Remember: the transfer or sale of university property is governed by Regulation 07.40.01 – Disposal of University Property. More information about the equipment trade-in process is included in the Procurement Manual and the Asset Management Manual.